USD/CHF sticks to modest gains around 0.9200 mark ahead of US ADP report By HareshMenghani USDCHF RiskAppetite RussianFederation Ukraine Currencies
A combination of supporting factors assisted the USD/CHF pair to attract some buying near the 0.9165 region on Wednesday and move into the positive territory for the second successive day. Receding safe-haven demand undermined the Swiss franc and acted as a tailwind for the major amid modestAs investors digest the recent developments surrounding the Russia-Ukraine saga, a goodish recovery in the equity markets drove investors away from traditional safe-haven assets.
Apart from this, the worsening situation in Ukraine continued benefitting the greenback's status as the global reserve currency and also extended support to the USD/CHF pair. In fact, reports indicated that Russia has intensified the bombardment of Ukrainian cities and a large Russian convoy was approaching the capital Kyiv.rate hike move in March held forced the USD to pare a part of its intraday gains to the highest level since June 2020.
Hence, it will be prudent to wait for strong follow-through buying before positioning for any further appreciating move. Market participants now look forward to the US ADP report on private-sector employment. This, along with Fed Chair Jerome Powell's semi-annual testimony, might provide some impetus to the
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
USD/CHF looks to surpass 0.9200 on upbeat US Manufacturing PMI and New Orders IndexThe USD/CHF pair faced barricades near 0.9200 as investors were shifting their funds into risk-sensitive assets after the market cheered the initial s
Read more »
GBP/USD retakes 1.3400 mark, fills the bearish gap amid modest USD pullbackGBP/USD retakes 1.3400 mark, fills the bearish gap amid modest USD pullback By HareshMenghani GBPUSD RussianFederation Ukraine RiskAppetite Currencies
Read more »
GBP/USD sellers attack 1.3300 ahead of US ADP Employment data, Fed Chair Powell’s TestimonyGBP/USD sellers attack 1.3300 ahead of US ADP Employment data, Fed Chair Powell’s Testimony By anilpanchal7 GBPUSD Brexit Ukraine RussianFederation Fed
Read more »
When is the US ADP jobs report and how could it affect EUR/USD?Wednesday's US economic docket highlights the release of the ADP report on private-sector employment, scheduled at 13:15 GMT. Consensus estimates sugg
Read more »
USD/IDR Price News: Rupiah pares intraday gains around $14,350 on mixed Indonesia inflationUSD/IDR Price News: Rupiah pares intraday gains around $14,350 on mixed Indonesia inflation By anilpanchal7 USDIDR Inflation Indonesia RussianFederation Ukraine
Read more »
Gold Price Forecast: XAU/USD extends weekly gains hovers around $1920 post-ISM Manufacturing PMIGold Price Forecast: XAU/USD extends weekly gains hovers around $1920 post-ISM Manufacturing PMI By christianborjon Gold XAUUSD Metals Commodities
Read more »