USD/CHF juggles above 0.8900 as investors await US CPI for more guidance


  • USD/CHF is showing a sideways auction around 0.8900 ahead of US Inflation.
  • The US NFP puzzle bolstered the expression of neutral Fed policy ahead.
  • Swiss annual CPI softened to 2.6% from the consensus of 2.85 and the former release of 2.9%.

The USD/CHF pair is displaying a back-and-forth action near the round-level cushion of 0.8900 in the Asian session. The Swiss franc asset has turned sideways as investors are awaiting the release of United States Consumer Price Index (CPI) data, which will release on Wednesday.

S&P500 futures are showing nominal losses in the Asian session after a super bullish Friday, portraying a minor caution in the overall cheerful market mood. The US Dollar Index (DXY) has retreated after a less-confident pullback and is looking to further downside below the immediate support of 101.17.

On Friday, the USD Index showed a stellar recovery after an upbeat US Employment report but surrendered gains knowing that the report was contaminated. March’s payroll additions were downwardly revised to 165K from the disclosed figure of 263K, which indicated that fresh additions were mere 2% higher than the former figure. The Unemployment Rate dropped to 3.4% from the consensus of 3.5%.

After the US Nonfarm Payrolls (NFP) puzzle, investors are shifting their focus toward the release of the US inflation data, which is scheduled for Wednesday. According to the preliminary report, the monthly headline Consumer Price Index (CPI) accelerated by 0.4% in April against a 0.1% pace recorded in March. The core CPI gained by 0.3%, at a slower pace than recorded for March at 0.4%.

On the Swiss franc front, annual CPI softened to 2.6% from the consensus of 2.85 and the former release of 2.9%. Monthly inflation remained stagnant while the street was anticipating an escalation by 0.5%. This might provide some relief to Swiss National Bank (SNB) policymakers.

USD/CHF

Overview
Today last price 0.8901
Today Daily Change -0.0008
Today Daily Change % -0.09
Today daily open 0.8909
 
Trends
Daily SMA20 0.8939
Daily SMA50 0.9116
Daily SMA100 0.9184
Daily SMA200 0.9431
 
Levels
Previous Daily High 0.8974
Previous Daily Low 0.8835
Previous Weekly High 0.8995
Previous Weekly Low 0.882
Previous Monthly High 0.9198
Previous Monthly Low 0.8852
Daily Fibonacci 38.2% 0.8921
Daily Fibonacci 61.8% 0.8888
Daily Pivot Point S1 0.8838
Daily Pivot Point S2 0.8767
Daily Pivot Point S3 0.8699
Daily Pivot Point R1 0.8977
Daily Pivot Point R2 0.9045
Daily Pivot Point R3 0.9116

 

 

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