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Sep. 29, 2022

Dollar-Swiss currency pair posts 0.56% gain

Live - Updated 24 minutes ago.

Tentatively higher from an earlier low of 0.9752, Dollar-Swiss is up to 0.9818 today, adding 54 pips, or 0.56%, to yesterday's closing price of 0.9763.

Dollar-Swiss upside coincides with further encouraging market factors as Crude Oil Inventories in United States fell short of market expectations (443,000) with a reading of -215,000, continuing the decline from the previous figure of 1.14 million.

On the flip side, highly important Initial Jobless Claims data from United States beat analyst expectations of 215,000 with a reading of 193,000. Highly important GDP data from United States beat analyst expectations of -0.6 with a reading of -0.6.

USD/CHF made an initial breakout above its 5 day Simple Moving Average at 0.9842, a potential indicator of a newly emerging bullish phase. Having stamped out a session range of 0.9752 to 0.9856, Fibonacci-inclined Dollar-Swiss traders were highly concentrated around active Fibonacci resistance at 0.9842.

Overall, looking at the technical analysis landscape, it seems Dollar-Swiss might continue pointing upwards in the short term.

A look at other currencies also shows bullish price action as GBP/NZD is up 1.9%. GBP/CAD is up 1.63%. Having closed the previous session at 1.6987, EUR/NZD is up 1.08% today to currently trade at around 1.7171.

Elsewhere, Switzerland KOF Leading Indicators (Sep) is scheduled for tomorrow at 07:00 UTC. Switzerland Retail Sales is expected tomorrow at 06:30 UTC. Switzerland SNB Gov Board Member Maechler speech is scheduled today at 23:45 UTC.

Dollar-Swiss has managed to gain 7.03% so far this year despite trading at lows around 0.9091 previously.

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Week to date

Dollar-Swiss increases slightly to 0.9818 (a 0% gain) after closing the previous session at zero .

Trading week at a glance - USD/CHF is up to 0.9818, after closing yesterday at zero. Overall, a 0% move or 9,817 pips this week. (Trade Dollar-Swiss with FXTM now).

Uptick comes while some more positive signs for Dollar-Swiss are out as United States Crude Oil Inventories published yesterday at 14:30 UTC came out at -215,000, falling short of the 443,000 projections and continuing its decline from the previous 1.14 million figure. Highly important Pending Home Sales data from United States beat analyst expectations of -1.4% with a reading of -2%.

Nevertheless, highly important Initial Jobless Claims data from United States beat analyst expectations of 215,000 with a reading of 193,000. Highly important GDP data from United States beat analyst expectations of -0.6 with a reading of -0.6.

Meanwhile, United States New Home Sales (Aug) came out at 685,000, while a consensus of analysts was expecting 500,000.

Elsewhere, Switzerland Consumer Price Index figure is projected at 0.2%. It previously stood at 0.3%; data will be released Monday. Switzerland KOF Leading Indicators (Sep) is scheduled for tomorrow at 07:00 UTC. Switzerland procure.ch PMI (Sep) will be released Monday.