USD/CHF stays pressured towards 0.9200 ahead of US PPI, Retail Sales – by anilpanchal7 USDCHF RiskAppetite PPI RetailSales Currencies
the Swiss currency pair cheers the US Dollar’s failure to benefit from upbeat Treasury bond yields and the softer Euro amid softer US data, as well as downbeat comments from the Federal Reserve officials. marked a dismal closing around 102.35, after an initially positive performance.
The data also helped the Federal Reserve Bank of Richmond’s President and CEO Thomas Barkin to state, “My hope is that we have passed the peak of inflation.” As a result, the US Dollar bulls had a tough ride. It’s worth noting that the dovish concerns surrounding the ECB’s next move, which weighed on the Euro, could be linked to Bloomberg’s news saying, “ policymakers are starting to consider a slower pace of interest-rate hikes after a likely 50 basis-point step in February.”
Amid these plays, Wall Street closed mixed and the benchmark 10-year US Treasury bond yields ended the day with nearly four basis points of an upside to 3.55% even as the two-year counterpart retreated to 4.20%. Moving on, mixed signals from the recently mixed US consumer-centric data, coupled with the Federal Reserve policymakers’ inability to defend the hawkish bias, highlight today’s US Retail Sales and the
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