USD/CHF rebounds from 0.9200 as safe-haven appeal of Swiss Franc dents, USD Index tumbles


Share:
  • USD/CHF has shown a recovery above 0.9200 despite the further correction in the US Dollar.
  • The reputation of the Swiss Franc as a safe-haven has been significantly dented after the Credit Suisse collapse.
  • It seems that stubborn US inflation would be handled by tight credit conditions from US banks ahead.

The USD/CHF pair has recovered after a minor correction below 0.9200 in the early Tokyo session. The Swiss Franc asset has shown a recovery despite a firm correction in the US Dollar Index (DXY). The demise of Credit Suisse has dented the reputation of the Swiss Franc as a safe-haven.

The Swiss Franc used to be the first choice of investors if the US Dollar went through turbulent times. US banking shakedown resulted in a sheer demand for the Japanese Yen and the Gold while Swiss Franc weakened further against the mighty US Dollar after the Credit Suisse collapse. Money managers ditched the Swiss franc at the fastest rate in two years last week in the run-up to the dramatic takeover of Credit Suisse by UBS, as reported by Reuters.

Meanwhile, correction in the USD Index has extended to near 102.40 as the Federal Reserve (Fed) is expected to take the route of steady monetary policy in times when the US banking system is going through major headwinds. While stubborn inflation would be handled by tight credit conditions from US banks. Disbursement of advances to households and businesses will go through more filters as banks are required to remain precautions in times of higher interest obligations.

Going forward, the release of the Quarterly Bulletin (Q1) by the Swiss National Bank (SNB) will be keenly watched. The Quarterly Bulletin will be filled with monetary policy report and business cycle trends in the Swiss region. Inflationary pressures in the Swiss region are beyond the control of the SNB. And, SNB Chairman Thomas J. Jordan has already confirmed more rates head to contain higher Consumer Price Index (CPI).

USD/CHF

Overview
Today last price 0.9204
Today Daily Change 0.0048
Today Daily Change % 0.52
Today daily open 0.9156
 
Trends
Daily SMA20 0.9283
Daily SMA50 0.9252
Daily SMA100 0.9319
Daily SMA200 0.9528
 
Levels
Previous Daily High 0.92
Previous Daily Low 0.9154
Previous Weekly High 0.9317
Previous Weekly Low 0.912
Previous Monthly High 0.9429
Previous Monthly Low 0.9059
Daily Fibonacci 38.2% 0.9172
Daily Fibonacci 61.8% 0.9182
Daily Pivot Point S1 0.914
Daily Pivot Point S2 0.9124
Daily Pivot Point S3 0.9095
Daily Pivot Point R1 0.9186
Daily Pivot Point R2 0.9216
Daily Pivot Point R3 0.9231

 

 

Share: Feed news

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.

Follow us on Telegram

Stay updated of all the news

Join Telegram

Recommended content


Follow us on Telegram

Stay updated of all the news

Join Telegram

Recommended content

Editors’ Picks

EUR/USD hovers around 1.0800 ahead of NFP

EUR/USD hovers around 1.0800 ahead of NFP

EUR/USD recovered from three-week lows and peaked at 1.0817. It is hovering around the 1.800 area. The pair rose on Thursday supported by a weaker US Dollar amid risk appetite. The focus turns to Friday’s NFP report.

EUR/USD News

USD/JPY remains volatile below 144.00 after Japan's GDP miss

USD/JPY remains volatile below 144.00 after Japan's GDP miss

USD/JPY is moving back and forth while below 144.00 in Friday's Asian trading. The pair recovered ground after Japan's Q3 GDP missed estimates. However, the Yen holds the upper hand against the US Dollar on hints of BoJ's policy pivot. US NFP awaited. 

USD/JPY News

Gold eyes acceptance above $2,050 on dismal US Nonfarm Payrolls data Premium

Gold eyes acceptance above $2,050 on dismal US Nonfarm Payrolls data

Gold set new all-time highs this week at $2,144.48 in a hard bid rally early Monday, and the XAU/USD has spent the rest of the week in thin trading above $2,000 after paring away Monday’s opening gains. US NFP data is in focus for a fresh directional impetus. 

Gold News

Bitcoin price could retrace to $42,000 if US Nonfarm Payroll comes in at 180,000

Bitcoin price could retrace to $42,000 if US Nonfarm Payroll comes in at 180,000

Bitcoin price just like other assets, is highly impacted by the macro-financial developments. This includes the Nonfarm Payrolls (NFP) report released by the Bureau of Labor Statistics (BLS) of the United States. This time around, the NFP data is expected to cause a dip in the value of BTC.

Read more

US NFP Forecast: Nonfarm Payrolls gains expected to accelerate slightly in November

US NFP Forecast: Nonfarm Payrolls gains expected to accelerate slightly in November

The high-impact Nonfarm Payrolls (NFP) data from the United States (US) will be published by the Bureau of Labor Statistics (BLS) on Friday at 13:30 GMT.

Read more

Forex MAJORS

Cryptocurrencies

Signatures