USD/CHF stays below 0.9200 amid risk-off mood, US PMI eyed

USD/CHF edges lower on Friday in the initial Asian session.
Higher US Treasury yields fail to uplift the demand for the US dollar.
The pair posts losses for the third-straight session.

Rekha Chauhan Independent Analyst

USD/CHF remains poised for weekly losses on Friday in the early Asian session. The pair started the October series on a lower note, after testing the high of 0.9368 on September 30. At the time of writing, USD/CHF is trading at 0.9181, down 0.01% for the day.

The US Dollar Index (DXY), which tracks the greenback performance against its six major rivals, trades below 94.00 following mixed US data. The US Initial Jobless Claims came at 290K in the week ended October,16 below the market expectations of 300K. The Philadelphia Fed Manufacturing Index dropped 23.8 in October from 30.7 in September.

On the other hand, the Swiss franc gained momentum on its safe-haven appeal. The risk sentiment worsened after China’s debt-ridden Evergrande failed to commit its $2.6 billion deal on Wednesday. Investors remain concerned about its more than $300 billion debt. It is worth noting that, S&P 500 Futures is trading at 4,531, down 0.22% for the day.

As for now, traders are looking for the US Markit Manufacturing Purchasing Managers Index (PMI), Markit Services PMI to take fresh trading insight.

USD/CHF additional levels

Overview
Today last price	0.9183
Today Daily Change	0.0000
Today Daily Change %	0.00
Today daily open	0.9183

Trends
Daily SMA20	0.9263
Daily SMA50	0.9216
Daily SMA100	0.9177
Daily SMA200	0.9141

Levels
Previous Daily High	0.9206
Previous Daily Low	0.9171
Previous Weekly High	0.9313
Previous Weekly Low	0.9194
Previous Monthly High	0.9368
Previous Monthly Low	0.9116
Daily Fibonacci 38.2%	0.9184
Daily Fibonacci 61.8%	0.9193
Daily Pivot Point S1	0.9167
Daily Pivot Point S2	0.9151
Daily Pivot Point S3	0.9131
Daily Pivot Point R1	0.9202
Daily Pivot Point R2	0.9222
Daily Pivot Point R3	0.9238

Author

Rekha Chauhan

Independent Analyst

Rekha Chauhan has been working as a content writer and research analyst in the forex and equity market domain for over two years.

AUD/USD edges higher as hot CPI inflation and hawkish RBA lift rate hike bets

The AUD/USD pair gathers strength to near 0.7035 during the Asian trading hours on Friday. The Australian Dollar edges higher against the US Dollar as hotter Australian CPI inflation data has bolstered expectations of Reserve Bank of Australia rate hikes.

USD/JPY meets support near 157.00

USD/JPY retreats for the third consecutive day on Friday, revisiting the 157.00 region before attempting some recovery as investors continue to assess the latest BoJ meeting, where the central bank left rates unchanged, as widely anticipated.

Gold sinks to fresh yearly lows despite risk-off mood as Fed rate hike bets weigh

Gold slips to fresh year-to-date lows on Friday. The metal struggles despite a risk-off mood across markets, as expectations of further Federal Reserve (Fed) interest rate hikes continue to dominate price action, leaving Gold on track to end the month in negative territory.

Ripple Price Forecast: XRP bulls defend $1.20 as sell-side pressure triggers liquidations

Ripple (XRP) trades around $1.25 on Friday, rising from a short-term support level established at $1.20. This minor upward correction follows a sharp sell-off, triggered amid reports of a hack attack on the Binance exchange that impacted approximately $6.3 billion. The attack drove the broader crypto market on edge, as Binance suspended both deposits and withdrawals to contain the situation.

BoJ recap: A pause for now... but Japan has entered a new inflation phase

The Bank of Japan left its short-term policy rate unchanged at 1.25% but delivered a distinctly hawkish message on the risk of an inflation overshoot. The decision passed by 8-1, with board member Takata dissenting in favour of an increase to 1.5%, while Governor Kazuo Ueda stressed that the Bank would continue adjusting policy as needed.

The 2% inflation target came from a throwaway remark. It now moves trillions

The Federal Reserve's 2% inflation goal grew out of an off-the-cuff remark by a New Zealand politician in 1988. Bond investors still price long-term US debt as if 2% holds, so a change in how the Fed measures inflation would move markets.