USD/CHF advances towards 0.9650 ahead of FOMC minutes and ZEW Survey
|- USD/CHF is aiming higher amid a recovery in the DXY.
- A preliminary estimate of the ZEW Survey- Expectations shows an outperformance by the economy.
- FOMC minutes and the US Durable Goods Orders will remain the key events to watch out for today.
The USD/CHF pair is displaying a quiet mood by oscillating in a minor range of 0.9606-0.9629 in the early European session. A bullish open drive session has been shown by the asset and is now preparing for an initiative buying action. The pair has rebounded after hitting a low of 0.9587 amid exhaustion in the downtrend.
Earlier, the pair remained in a negative trajectory as the US dollar index (DXY) witnessed a steep fall after an improvement in the risk appetite of the market participants. In today’s session, a minor rebound in the DXY has supported the greenback-dominated currencies. The DXY has attracted bets amid uncertainty over the Federal Open Market Committee (FOMC) minutes, which will release in the New York session. Apart from that, the US Durable Goods Orders are on the investor’s radar.
The US Census Bureau is expected to report the monthly Durable Goods Orders at 0.6% against the prior print of 1.1%. Also, the core Durable Goods Orders that don’t include defense goods are expected to land at 0% vs. 1.4% reported earlier.
On the Swiss front, investors are eyeing the release of the ZEW Survey- Expectations, which dictates research on the present condition of the business, employment, and other catalysts. A preliminary estimate shows that the ZEW Survey- Expectations could improve to -39.3 against the prior print of -51.6.
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