USD/CHF tests monthly highs near 1.0050

  • Greenback gains traction in the NA session.
  • Fed's Evans says economy is looking stronger than it did in December.
  • NY Fed's Empire State Manufacturing Index rises more than expected.

After closing the previous week above the critical parity mark, the USD/CHF pair continued to edge higher on Monday and was last seen trading at its highest level since March 15 at 1.0047, adding 0.23% on a daily basis.

Earlier today, the data from Switzerland showed that the Producer Price Index in March rose 0.3% following February's 0.2% increase but was largely ignored by the participants. In the meantime, heightened hopes of the U.S.-China trade conflict soon coming to an end and the announcement of the EU nations agreeing to kick off trade negotiations with the U.S. helped market sentiment remain positive and weighed on safe-havens such as the CHF on Monday.

On the other hand, Chicago Fed President Evans today said that the U.S. economy was looking stronger than it did back in September to provide a small boost to the greenback. On the policy outlook, Evans said that he'd like to see inflation rise before going for another rate hike. 

Moreover, the Federal Reserve Bank of New York in its Empire State Manufacturing Survey showed that the business activity expanded at a more robust pace than expected with the headline Manufacturing Index improving to 10.1 in April from 3.7 in March and supported the buck's recovery. At the moment, the US Dollar Index is up 0.12% on the day at 96.96.

Technical levels to consider

USD/CHF

Overview
Today last price 1.0045
Today Daily Change 0.0021
Today Daily Change % 0.21
Today daily open 1.0024
 
Trends
Daily SMA20 0.9976
Daily SMA50 1.0009
Daily SMA100 0.9961
Daily SMA200 0.9926
Levels
Previous Daily High 1.0037
Previous Daily Low 0.9997
Previous Weekly High 1.0047
Previous Weekly Low 0.9977
Previous Monthly High 1.0125
Previous Monthly Low 0.9894
Daily Fibonacci 38.2% 1.0012
Daily Fibonacci 61.8% 1.0022
Daily Pivot Point S1 1.0002
Daily Pivot Point S2 0.9979
Daily Pivot Point S3 0.9962
Daily Pivot Point R1 1.0042
Daily Pivot Point R2 1.0059
Daily Pivot Point R3 1.0082

 

 

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.

Feed news

Latest Forex News

Editors’ Picks

EUR/USD tumbles to weekly lows on disappointing PMI data

EUR/USD dropped below 1.1300 after Germany's Manufacturing PMI dropped to 44.5 points, below expectations and reflecting a deep contraction in the sector. Other PMIs are mostly weak as well. US retail sales are eyed.

EUR/USD News

GBP/USD bounces off 1.3000 on upbeat UK retail sales

GBP/USD escaped the 1.3000 line after UK retail sales beat with a jump of 1.1% in March, much better than expected. A risk-off mood weighed on it earlier. US retail sales are next.

GBP/USD News

USD/JPY: risk aversion likely to result in limited slides

April Japanese Nikkei Manufacturing PMI improved to 49.5 from 49.2, still in contraction territory. European data spurred demand for safe-haven assets amid renewed concerns of economic slowdown.

USD/JPY News

US Retail Sales Preview: Let the spending begin

Overall retail sales are predicted to rise 0.9% in March following February's 0.2% decline. Sales excluding automobiles are expected to climb 0.7% after falling 0.4% the prior month.

Read more

Gold: A dead cat bounce from 2019 lows?

Gold (futures on Comex) staged a sharp $4+ reversal last hour from fresh 2019 lows of 1273.05, as a sudden turnaround in the risk sentiment called on the gold bulls for rescue amid a resurgence of concerns over dwindling Eurozone economic growth.

Gold News

Majors

Cryptocurrencies

Signatures