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30 Mar 2018

USD/CHF beginning to sag after pricing in a new high at 0.9580

  • USD/CHF declining as US Dollar recedes in the broader market, lacking the conviction to extend the mid-week's Dollar rally.
  • Holiday markets are thin heading into the major Friday session, with the US and most major European exchanges shuttered for the long weekend.

The USD/CHF is drifting lower on choppy holiday volumes, declining from a session high of 0.9564 to trade at 0.9544 heading into the European market session. With Germany and other major economies within Europe shuttered for the Easter long weekend, volatility will be directionless and volumes thin heading into the final trading day of the week.

The US Dollar had a gainer week against the Swiss Franc this week, as renewed Dollar confidence sent the USD higher across the broader currency bloc, but conviction has been lacking and the bull run is already shaping up to be over with the Dollar receding heading into the end of the week.

Macro data for the Franc is spread few and far between, but as ING noted recently, the KOF economic barometer fell from 108.0 to 106.7 in March, implying a steeper contraction of growth than previously expected as sentiment within Switzerland's metals and manufacturing sectors dries up.

USD/CHF Levels to watch

With the USD/CHF pricing in a turnaround on Daily candles, Resistance is sitting close by in a rough zone from 0.9550 to 0.99580, with support dropping away into the early week's swing high at 0.9495, with further support from the week's low at 0.9435.

Mar 30, 2018

US: Data to continue to point to a strong economy - Nomura

Analysts at Nomura expect next week’s data to continue to point to a strong economic picture of United States. Key Quotes “For nonfarm payrolls (NFP
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Mar 30, 2018

US: Quiet developments in Washington - Nomura

This week was relatively quiet in Washington as Congress was on recess and the President did not make any new major policy announcements, points out t
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