USD/CHF: Options market keeps bearish bias ahead of SNB

Anil Panchal FXStreet

One-month risk reversal (RR) of USD/CHF, a gauge of calls to puts, remains pressured for the third consecutive day, recently down by -0.025 per the data source Reuters. The options market gauge flashed 0.0000 and -0.0500 figures during the last two respective days after declining from the +0.050 level marked on Monday.

Although the pair traders portray bearish bias, per the options market data, monetary policy meeting by the Swiss National Bank (SNB) restricts the USD/CHF moves around 0.9250. That said, the quote drops to 0.9241 by the press time.

It’s worth noting that the SNB is expected to keep the monetary policy intact, with a benchmark rate of -0.75% during Thursday’s announcement. However, SNB Press Conference around 09:00 AM GMT will be the key to portraying short-term USD/CHF moves.

Above all, ECB monetary policy announcement and the US trader’s post-Fed reaction will be crucial for the pair.

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

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