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- The CHF dollar is trading weaker in a quiet session where the feelings of the US dollar deteriorate before FOMC and amid indirect pressure caused by the TWD via the Asian FX.
- American economic data remains firm, but soft inflation in Switzerland and SNB DOVISH increases market expectations for negative prices.
- The technicians indicate, along with the continuation of the negative aspect of the US dollar/CHF, with support of less than 0.9050 and direction signals that tend to drop.
USD/CHF It is under pressure on Tuesday, as the husband decreased in the continuous softness in the wider US dollar (the US dollar). The spouses are traded in the lower range of its last range, as global markets weigh the implications of the unusual Taiwan movement on Monday (TwD) and their potential eating across Asian currencies. Although TWD reduced some gains after the central bank intervention, concerns about the broader FX transformations continue to pay cautious sites.
the US dollar The index (DXY) is traded near 99.74, and heads to the second consecutive day of losses. The markets are awaiting the results of a two -day policy meeting for the Federal Reserve (Fed), which started on Tuesday. No price changes are expected, and no updated predictions will be issued until the June 17-18 meeting. However, the tone will be examined from the Federal Reserve Chair closely as the markets are looking for guidelines about the timing and size of potential price discounts. Modern data – especially ISM Services in April at 51.6 and Solid Non -agricultural salary statements In 177000 – Suggest said that the Federal Reserve can wait, although Q2 gross domestic product Expectations It is still mixed, with models that show growth between 1.1 % and 2.3 %.
In Switzerland, Frank continues to attract safe demand, but its strong performance and flat inflation in April hold the position of the Swiss National Bank (SNB). The Swiss consumer price index came in the year unchanged on an annual basis, with the decrease in basic inflation to 0.6 % from 0.9 %. This has led to the strengthening of speculation that SNB may provide an additional reduction in the interest in its meeting on June 19, which may push politics again to negative lands. Market prices now reflect about 40 basis points for mitigation during the next quarter. SNB is still concerned about the dangers of contraction and kept FX’s intervention on the table as a policy option.
Geopolitical tensions in Europe and the Middle East also enhance the demand for safe havens. Parliament was elected from Germany, Fredchiich Mirz, a consultant by Parliament in a second round of voting after losing the first vote, and continuous conflicts in Ukraine and Gaza are still increasing risk flows.
Technical analysis
Technically, the USD/CHF remains under the pressure pressure. Although there is no complete technical collapse in this input, the prevailing trends show that the husband is biased for the negative side, as the region behaves 0.9100 -0.9050 as a major support range. If this range is broken, the next possible level of viewing is 0.9000. On the upper side, resistance is expected near 0.9150 and 0.9185, align with the last unification peaks. Wide domain momentum indicators, with direction signals indicating more softness unless FOMC leads to a transformation of morale in dollars.
With the high SNB rate reducing stakes and the Federal Reserve is unlikely to make a honest surprise, it appears that the less resistant path to the US dollar/CHF appears to be less in the short term.
