USDCHF NEWS (US DOLLAR SWISS FRANC)
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EUR/USD holds steady below 1.0500 ahead of US data
EUR/USD rose toward 1.0500 in the European morning on Monday but struggled to gather bullish momentum. The cautious market stance makes it difficult for the pair to continue to stretch higher as investors await mid-tier data releases from the US.
GBP/USD consolidates below 1.2100 ahead of US jobs data
GBP/USD is trading below 1.2100, consolidating near a multi-month trough touched this Tuesday. The pair is finding a floor amid a pause in the US Dollar upsurge and an upbeat market mood. Traders await the US JOLTS Job Openings data for fresh trading impetus.
USD/JPY holds ground below 150.00, awaits US employment data
USD/JPY trades below the highest level in eleven months. Traders watch for BoJ’s intervention, which could limit the losses of the Japanese Yen. US Treasury yields elevate, providing support to the US Dollar.
Gold price struggles to capitalize on modest intraday recovery from multi-month low
Gold price (XAU/USD) has been trending lower over the past two weeks or so in the wake of the Fed signal that sticky inflation was likely to attract at least one more rate hike in 2023.
WTI trims intraday losses near $87.70 amid Turkey to resume operations on Iraq’s pipeline
Crude oil prices extend losses due to the hawkish sentiment on the Fed’s interest rates trajectory. Turkey made an announcement to resume operations on a pipeline from Iraq; weighing on oil prices. US Treasury yields rose after the US averted a partial government shutdown, bolstering the US Dollar.
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Influential Institutions & People for the USDCHF
On the other
FED Official Website, on Twitter and Facebook
The Swiss National Bank (SNB)
The Swiss National Bank conducts the country’s monetary policy as an independent central bank. It is obliged by the Constitution and by statute to act in accordance with the interests of the country as a whole. Its primary goal is to ensure price stability, while taking due account of economic developments. In so doing, it creates an appropriate environment for economic growth.
The official website, on Twitter and YouTube
Jerome Powell
Jerome Powell took office as chairman of the Board of Governors of the Federal Reserve System in February 2018, for a four-year term ending in February 2022. His term as a member of the Board of Governors will expire January 31, 2028. Born in Washington D.C., he received a bachelor’s degree in politics from Princeton University in 1975 and earned a law degree from Georgetown University in 1979. Powell served as an assistant secretary and as undersecretary of the Treasury under President George H.W. Bush. He also worked as a lawyer and investment banker in New York City. From 1997 through 2005, Powell was a partner at The Carlyle Group.
Jerome Powell Fed's Profile and Wikipedia
Thomas J. Jordan
Thomas J. Jordan was born in Bienne, Switzerland in 1963. Thomas J. Jordan is a member of the Board of Directors of the Bank for International Settlements (BIS) in Basle and the Steering Committee of the Financial Stability Board (FSB). He is the Governor of the International Monetary Fund (IMF) for Switzerland, and also Chairman of the G10 Central Bank Counterfeit Deterrence Group (CBCDG).
Jordan on SNB's Profile and Wikipedia
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About USDCHF
The pair reflects how many Swiss Francs are needed to purchase one American dollar. Both currencies are considered safe-havens, although after the SNB lifted the peg with its currency with the EUR back in January 2015, the CHF has partially lost attractive in turmoil times, with speculative interest more inclined then to buy the JPY or Gold. With sentiment in risk-off mode, the American dollar tends to weaken more than any other safe-haven asset.