USD/CHF climbs to fresh seven-week highs near 0.9800

  • Annual core CPI in US stayed unchanged at 2.3% in January.
  • US Dollar Index clings to small gains above 99.
  • 10-year US Treasury bond yield erases majority of early losses.

The USD/CHF pair dropped to 0.9760 area on Thursday as the risk-off atmosphere allowed the CHF to gather strength against its major rivals. The broad-based USD strength, however, helped the pair reverse its direction during the early American session. As of writing, the pair was trading at its highest level since late December at 0.9793, adding 0.12% on a daily basis.

China reported a sharp increase in the number of coronavirus infections after changing the counting method and triggered a flight to safety. Asian equity indexes suffered heavy losses and European stocks erased more than 1% earlier in the day before rebounding. Reflecting the recovering sentiment, the 10-year US Treasury bond yield, which lost more than 3%, retraced its fall and was last down 1% on the day.

USD stays strong after inflation data

In the meantime, supported by the US inflation report, the US Dollar Index climbed above the 99 mark to help the pair push higher. The data published by the US Bureau of Labor Statistics (BLS) on Thursday showed that the core Consumer Price Index stayed unchanged on a yearly basis at 2.3% to come in higher than the market expectation of 2.2%.

As of writing, the US Dollar Index was at its highest level since October 9th at 99.05.

There won't be any other macroeconomic data releases from the US in the remainder of the day and markets will be paying attention to Wall Street's performance and T-bond yields to see if the risk sentiment continues to improve.

Technical levels to watch for


Today last price 0.9791
Today Daily Change 0.0011
Today Daily Change % 0.11
Today daily open 0.978
Daily SMA20 0.9709
Daily SMA50 0.9746
Daily SMA100 0.9838
Daily SMA200 0.9868
Previous Daily High 0.9786
Previous Daily Low 0.974
Previous Weekly High 0.9782
Previous Weekly Low 0.9629
Previous Monthly High 0.9768
Previous Monthly Low 0.9613
Daily Fibonacci 38.2% 0.9769
Daily Fibonacci 61.8% 0.9758
Daily Pivot Point S1 0.9752
Daily Pivot Point S2 0.9723
Daily Pivot Point S3 0.9706
Daily Pivot Point R1 0.9797
Daily Pivot Point R2 0.9814
Daily Pivot Point R3 0.9843



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.

Feed news

Latest Forex News

Editors’ Picks

EUR/USD looks to test 1.0800 ahead of German ZEW

Despite the latest recovery attempt from a new 34-month of 1.0823 reached in early Asia, the sentiment around the EUR/USD pair remains undermined by the German economic growth concerns and broad US dollar strength. Focus on German ZEW, coronavirus updates.


GBP/USD extends losses to sub-1.3000 area, UK unemployment rate in focus

GBP/USD stays mildly negative just below 1.30 while heading into the London open on Tuesday. UK’s Brexit negotiator shares the same view as PM Boris Johnson, increases the risks of hard departure. UK employment statistics will be the key to clarify on the BOE’s bearish bias.


Forex Today: Risk sold amid coronavirus-led rising economic costs; a busy docket ahead

Despite upbeat US-China trade headlines and a slowdown in coronavirus infection in China, the risk appetite was battered in Asia this Tuesday, in light of the warning issued by Apple Inc. that highlighted rising economic costs due to the coronavirus impact.

Read more

Gold: Positive beyond six-week-old falling trendline

Gold prices take the bids above $1585, +0.35%, during the pre-European trading on Tuesday. The yellow metal recently broke a downward sloping trend line stretched from January 08. Early-month top on the buyer’s radar.

Gold News

FXStreet launches Real-Time Trading Signals

FXStreet Signals offers access to explanatory live webinars, real-time notifications when signals are triggered and exclusive membership to the company’s Telegram group, where users get direct guidance by our analysts and get room to discuss and interact.

More info