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SWITZERLAND: USDCHF Extends Session Declines to 1%, Swiss GDP Data Monday

SWITZERLAND
CEEMEASwitzerlandBulletMarketsFixed Income BulletsForeign Exchange Bullets
  • Lower core yields, a softer greenback and the hotter-than-expected core CPI print in Switzerland are all contributing to the ongoing weakness for USDCHF on Thursday. The pair has traded as low as 0.9044 in recent minutes, extending session losses to 1% and narrowing the gap to an area of key support.
  • As a reminder, it’s the 50-day EMA that remains the downside focus, having underpinned the significant rally in the aftermath of the US election. Despite multiple attempts in recent weeks, USDCHF has continually failed to close below this average, which currently intersects at 0.9024. Below here, the January low resides at 0.8965.
  • On the domestic docket, the preliminary reading of Q4 sport event adjusted GDP will be released on Monday, currently expected to rise 0.5% Q/q, versus a prior reading of 0.2%.
  • For full details of today’s inflation data release, please see our earlier bullet: https://mni.marketnews.com/4gDZC4I
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  • Lower core yields, a softer greenback and the hotter-than-expected core CPI print in Switzerland are all contributing to the ongoing weakness for USDCHF on Thursday. The pair has traded as low as 0.9044 in recent minutes, extending session losses to 1% and narrowing the gap to an area of key support.
  • As a reminder, it’s the 50-day EMA that remains the downside focus, having underpinned the significant rally in the aftermath of the US election. Despite multiple attempts in recent weeks, USDCHF has continually failed to close below this average, which currently intersects at 0.9024. Below here, the January low resides at 0.8965.
  • On the domestic docket, the preliminary reading of Q4 sport event adjusted GDP will be released on Monday, currently expected to rise 0.5% Q/q, versus a prior reading of 0.2%.
  • For full details of today’s inflation data release, please see our earlier bullet: https://mni.marketnews.com/4gDZC4I