USD/CHF extends sideways grind around 0.9050 after Swiss data

  • USD/CHF is moving sideways following last week's decline.
  • Annual CPI in Switzerland edged higher to 0.7% in July as expected.
  • US Dollar Index stays relatively calm around 92.00 ahead of US data.

The USD/CHF pair closed in the negative territory for five straight days and lost more than 100 pips last week. On Monday, the pair stays in a consolidation phase following the data releases from Switzerland. As of writing, USD/CHF was flat on the day at 0.9053.

DXY holds near 92.00 as investors await PMI reports

The data from Switzerland showed on Monday that the Consumer Price Index (CPI) rose to 0.7% on a yearly basis in July from 0.6% in June. This reading matched the market expectation. On a negative note, annual Retail Sales grew by 0.1% in June, down from 2.8% expansion registered in May.

Later in the session, the IHS Markit will release the final Manufacturing PMI for July. More importantly, the ISM's Manufacturing PMI will be watched closely by market participants.  Investors expect the headline PMI to show that the business activity in the manufacturing sector continued to expand at a robust pace. However, the Prices Paid Index, which touched a series high of 91.2 in June, will be the key component of the survey. 

Ahead of these data, the US Dollar Index is staying relatively quiet around 92.00. Meanwhile, Wall Street's main indexes remain on track to open in the positive territory, suggesting that the greenback could have a tough time gathering strength if risk flows continue to dominate the markets.

Technical levels to watch for


Today last price 0.9052
Today Daily Change -0.0004
Today Daily Change % -0.04
Today daily open 0.9056
Daily SMA20 0.9167
Daily SMA50 0.911
Daily SMA100 0.9152
Daily SMA200 0.9074
Previous Daily High 0.9076
Previous Daily Low 0.904
Previous Weekly High 0.9202
Previous Weekly Low 0.904
Previous Monthly High 0.9274
Previous Monthly Low 0.904
Daily Fibonacci 38.2% 0.9053
Daily Fibonacci 61.8% 0.9062
Daily Pivot Point S1 0.9039
Daily Pivot Point S2 0.9021
Daily Pivot Point S3 0.9003
Daily Pivot Point R1 0.9075
Daily Pivot Point R2 0.9093
Daily Pivot Point R3 0.9111



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. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Feed news

How do emotions affect trade?
Follow up our daily analysts guidance

Subscribe Today!    

Latest Forex News

Latest Forex News

Editors’ Picks

EUR/USD jumps to three-week highs near 1.1650 amid falling dollar, yields

EUR/USD is trading close to 1.1650, recovering ground to clinch three-week highs. The pair cheers risk-on mood-led decline in the US dollar. Treasury yields pullback, as poor US industrial data tempers hawkish Fed’s expectations. Focus on ECB and Fedspeak.


GBP/USD extends rally beyond 1.3800 on USD selloff

GBP/USD extended its rally in the European trading hours and reached its strongest level in a month above 1.3800. The broad-based selling pressure surrounding the greenback and the BoE rate hike expectations ahead of UK CPI data fuel the pair's upside.


XAU/USD targets $1791 on turnaround Tuesday

Gold price jumps 1% as the US dollar keeps losing ground across the board. Retreat in Treasury yields, risk-on mood aid the rebound in gold price. 

Gold News

Bitcoin open interest skyrockets as investors prepare for BTC price at $250,000

The open interest of Binance and CME Bitcoin futures hit a record high of $9.2 billion when combined. Bitcoin investment products saw an inflow of over $70 million last week, ahead of the ETF approval by the SEC.

Read more

Netflix (NFLX): Will Q3 earnings after the close be enough?

Netflix (NFLX) shares continued to perform strongly on Monday with results just around the corner. The stock has been very strong for some time, setting new all-time highs on the back of the global success of Squid Game.

Read more