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of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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Free AccessCHF Attracts Safe Haven Demand Amid Souring Risk Sentiment
- Equities are sliding to their worst levels of the session amid headlines from Politico stating that an Israeli ground invasion of Gaza is imminent. The Journal have also just published an article detailing that the Israeli military have confirmed that a number of a small raids have been conducted by their personnel inside the Gaza Strip. The first time that it has confirmed forces are on the ground.
- The USD index trades with a moderate upward bias, however, the real haven flow has seen the Swiss Franc outperform all others in G10.
- EURCHF now trades down 1.07% on the session and the move has been exacerbated by the break below the year’s lows at 0.9516, triggering an extension to lows of 0.9457 as of typing. The next notable downside target resides at 0.9410, the September 2022 lows.
- GBPUSD also trades with a downward bias, continuing to grind lower throughout the US session with US PPI, CPI and the University of Michigan inflation expectations data all beating expectations this week and underpinning the greenback recovery.
- For now, last week’s fresh cycle lows remain in view, which has reinforced bearish conditions over the medium-term. 1.2028, the Mar 16 low will be the key downside target and any short-term gains are considered corrective.
To read the full story
Sign up now for free trial access to this content.
Please enter your details below.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.