USD/CHF struggles to breakthrough 0.8700 mark, eases from two-week peak on softer USD – by hareshmenghani USDCHF Fed RiskAppetite China Currencies
A positive risk tone could undermine the safe-haven CHF and help limit losses.pair faces rejection near the 0.8700 mark and retreats a few pips from a nearly two-week high touched during the Asian session earlier this Tuesday. Spot prices currently trade around the 0.8685 region, down 0.
It is worth mentioning that the markets have been pricing out the possibility of any further rate hikes after the widely expected 25 bps lift-off at the end of a two-day FOMC policy meeting on Wednesday. Investors, however, remain sceptic if the US central bank will commit to a more dovish policy stance or stick to itsfor a 50 bps rate hike by the end of this year. Hence, the focus will be on the accompanying policy statement and Fed Chair Jerome Powell's remarks.
In the meantime, the latest optimism over additional stimulus measures from China remains supportive of the risk-on rally across the Asian equity markets. Stateagency Xinhua cited the Politburo - the top decision-making body of the ruling Communist Party - saying that China will step up economic policy adjustments, focusing on expanding domestic demand, boosting confidence and preventing risks.
Market participants now look to the US macro data - the Conference Board's Consumer Confidence Index and the Richmond Fed Manufacturing Index - for some impetus later during the early North American session. This week's rather packedalso features the Advance Q2 GDP print and the Core PCE Price Index , which should help determine the next leg of a directional move for the USD/CHF pair.
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 reclaims the 0.8700 mark as USD gains momentumThe USD/CHF pair gains traction on Tuesday. The pair is trading at 0.8700, up 0.03% after hitting a low of 0.8637. Investors will focus on the Federal
Read more »
USD/CHF oscillates in a range just above mid-0.8600s, upside potential seems limitedUSD/CHF oscillates in a range just above mid-0.8600s, upside potential seems limited – by hareshmenghani USDCHF Fed InterestRate Recession Currencies
Read more »
Pairs in Focus This Week \u2013 GBP/USD, EUR/USD, Silver, USD/CADGet the Forex Forecast using fundamentals, sentiment, and technical position analyses for major pairs for the week of July 23rd, 2022 here.
Read more »
Trading Support and Resistance \u2013 EUR/USD, USD/CADThis week I will begin with my monthly and weekly Forex forecast of the currency pairs worth watching.
Read more »
Weekly Forex Forecast \u2013 NASDAQ 100 Index, EUR/USD, USD/JPYThe difference between success and failure in Forex / CFD trading is highly likely to depend mostly upon which assets you choose to trade each week and in which
Read more »
NZD/USD sticks to gains above 0.6200 amid modest USD pullback from two-week highThe NZD/USD pair rebounds nearly 35 pips from the Asian session low and turns positive for the second straight day on Tuesday. Spot prices currently t
Read more »