USD/CHF: Options market keeps bearish bias ahead of SNB
|One-month risk reversal (RR) of USD/CHF, a gauge of calls to puts, remains pressured for the third consecutive day, recently down by -0.025 per the data source Reuters. The options market gauge flashed 0.0000 and -0.0500 figures during the last two respective days after declining from the +0.050 level marked on Monday.
Although the pair traders portray bearish bias, per the options market data, monetary policy meeting by the Swiss National Bank (SNB) restricts the USD/CHF moves around 0.9250. That said, the quote drops to 0.9241 by the press time.
It’s worth noting that the SNB is expected to keep the monetary policy intact, with a benchmark rate of -0.75% during Thursday’s announcement. However, SNB Press Conference around 09:00 AM GMT will be the key to portraying short-term USD/CHF moves.
Above all, ECB monetary policy announcement and the US trader’s post-Fed reaction will be crucial for the pair.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.