- USD/CHF is mainly driven by the current sentiment on markets and renewed interest in the US dollar.
- San Francisco Federal Reserve President John Williams sees median interest rates in the US hovering between 3% and 4% by 2020.
- Swissy is now trading close to 2-week highs about 20 pips away from its 200-period simple moving average.
The USD/CHF is trading at around 0.9646 up 0.49% on Tuesday as the US dollar bulls took the lead in the European session.
Freshly released, the US industrial production data came in better than anticipated and rose to 0.5% m/m in March while the capacity utilization came in better-than-expected at 78%.
Four Fed’s officials' speeches are slated on the US calendar on Tuesday and the next one coming up is the one of Randal Quarles, Federal Reserve Governor, who is set to testify on supervision and regulation before the House Financial Services Committee at 14:00 GMT in Washington DC.
The US dollar is enjoying a solid rebound on Tuesday as the geopolitical tensions over the military conflict in Syria ease while the US Federal Reserve officials see interest rates higher in two-years from now. While speaking in Madrid, San Francisco Federal Reserve President John Williams said he expects median interest rates in the US hovering between 3% and 4% by 2020.
Traders are now focusing their attention on the earnings season. The three main US indices (the S&P 500, the Dow Jones and the Nasdaq) are gaining some positive traction following Monday’s bull move as the risk-on mood is back on the table.
The pair is facing resistance at 0.9658 with the daily 200-period simple moving average. A break above can lead to 0.9700 figure. While a failure at the 0.9658 resistance can lead to a retest of the 0.9600 figure and then 0.9533 swing low.
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 securities. 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 Forex 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.