USD/CHF climbs above 0.9100 as focus shifts to US data
|- USD/CHF is rising modestly on the last trading day of the week.
- SNB Chairman Jordan reiterated their willingness to intervene in forex markets.
- Annual Core PCE Price Index in US is expected to rise to 1.8% in March.
Following a sharp decline on Wednesday, the USD/CHF pair struggled to find direction on Thursday before edging higher on Friday. As of writing, the pair was up 0.22% on the day at 0.9103.
SNB commentary weighs on CHF
Earlier in the day, Swiss National Bank (SNB) Chairman Thomas Jordan repeated that it remains essential for them to continue to use negative interest rates and stay ready to intervene in forex markets. "Swiss franc has weakened but remains highly valued," Jordan added and made it difficult for the CHF to preserve its strength.
On the other hand, the US Dollar Index (DXY) extends rebound toward 91.00 on Friday, allowing USD/CHF to stay in the positive territory.
Ahead of the US Bureau of Economic Analysis' Personal Consumption Expenditures (PCE) Price Index, Personal Income and Personal Spending data, the DXY is up 0.28% on the day at 90.88.
Investors expect the Core PCE Price Index, the Federal Reserve's benchmark inflation gauge, to rise to 1.8% on a yearly basis in March from 1.4% in February. If US T-bond yields gain traction on a stronger-than-expected reading, the USD could look end the week on a firm footing and help USD/CHF push higher.
Technical levels to watch for
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