USD/CHF Live News

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Dec. 2, 2022

Mixed sentiment sees Dollar-Swiss currency pair ending the session broadly flat; establishes tight 0.9357 to 0.9386 range

Live - Updated 3 minutes ago.

Dollar-Swiss trades at 0.9377 after gaining 6 pips (0.07%).

Nevertheless, highly important Initial Jobless Claims data from United States beat analyst expectations of 235,000 with a reading of 225,000.

Meanwhile, United States ISM Manufacturing PMI (Nov) released yesterday at 15:00 UTC with a figure of 49, while the previous figure was 50.2. United States Core PCE Price Index (MoM) (Oct) came out at 0.2, while a consensus of analysts was expecting 0.3.

Trend and momentum analysis indicates that the Commodity Channel Index (CCI) indicator is below -100, meaning the market price is unusually low and below its rolling moving average. Technical analysis indicates that a new, strong downtrend could be forthcoming with short positions favored. According to asset volatility analysis, Dollar-Swiss's lower Bollinger Band® is at 0.935, indicating that the market is oversold and fertile for new buyers. As the trading day commences, technical analysis suggests Dollar-Swiss broke through the 0.9374 resistance, climbing 2 pips above it.

With market volatility ebbing, the current technical outlook indicates Dollar-Swiss will remain range-bound for the immediate future.

While Dollar-Swiss is up today, these currencies are lagging behind: EUR/JPY is down to 142.13, losing 25 pips, after closing at 142.39 in the preceding trading session. GBP/JPY closed at 165.48 (down 0.22%). USD/SGD is trading around 1.352 (down 18 pips).

Positive indicators for Dollar-Swiss are expected going forward as projections for United States Non Farm Payrolls are set for a continuation of decline with 200,000 while previous data was 261,000; data will be released today at 13:30 UTC.

Also worthy of note, United States Unemployment Rate is expected today at 13:30 UTC.

Dollar-Swiss is now trading 7.55% away from its significant high of 1.0135 first tested 29 days ago.

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Week to date

Stalemate for Dollar-Swiss bulls and bears .

As the trading week gets on its way, USD/CHF is up to 0.9377, after closing yesterday at zero. Overall, a 0% move or 9,376 pips this week. (Start trading Dollar-Swiss at FXTM today).

On the flip side, data for United States Initial Jobless Claims published yesterday at 13:30 UTC came out at 225,000, beating projections of 235,000 and showing improvement over the preceding figure of 241,000.

At the same time, United States ISM Manufacturing PMI (Nov) released yesterday at 15:00 UTC with a figure of 49, while the previous figure was 50.2. United States Core PCE Price Index (MoM) (Oct) came out at 0.2, while a consensus of analysts was expecting 0.3. Switzerland procure.ch PMI (Nov) came out at 53.9. Retail Sales in Switzerland fell short of market expectations (3.5%) with a reading of -2.5%, continuing the decline from the previous figure of 2.6%.

Also worthy of note, United States Crude Oil Inventories is projected to outperform its last figure with -2.76 million. It previously stood at -12.58 million; data will be released Wednesday.

Furthermore, the market is looking at Wednesday data for Switzerland Unemployment Rate will be released, with an expected decline to two from the preceding figure of 1.9. Switzerland Unemployment Rate s.a. (Nov) will be released Wednesday.