USD/CHF renews seven-week high near 0.9100 on downbeat Swiss data, risk catalysts eyed – by anilpanchal7 USDCHF RiskAversion Macroeconomics Fed Politics
Mixed Swiss GDP, US data fails to provide any clear directions but hawkish Fed bets keep US Dollar bulls hopeful.Updates from US House of Representatives, Fed’s Beige Book will be crucial for fresh impulse.justifies softer Swiss statistics amid the risk-off mood heading into Wednesday’s European session as it renews the monthly top near 0.9090 at the latest. In doing so, the Swiss Franc pair extends the previous day’s rebound from a one-week low to print the highest level since April 11.
On the other hand, the US Conference Board's Consumer Confidence Index edged lower to 102.30 for May from an upwardly revised 103.70 prior marked in April . Additional details of the survey report mentioned that the one-year consumer inflation expectations ticked down to 6.1% in May from 6.2% in April. Further, the Dallas Fed Manufacturing Business Index for May dropped to -29.1 from -23.4 and versus -19.6 market expectations.
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