387 days ago
The dollar plummeted in light of falling rising interest rate expectations. The Swiss franc on the other hand surged lifted by exploding gold prices. Gold surged 2.3% on Monday to 1,910. The dollar looks oversold from a technical perspective and the USDCHF pair has support at just below 0.91.
395 days ago
The Swiss franc is on the move again! In fact, it has shown intense volatility lately. This Monday morning it is gaining strength versus the dollar after Swiss inflation data showed prices were pushing higher more than expected, which should pressure the Swiss National Bank to hike interest rates further. Note, the the SNB was ahead of the ECB last year in reactivity to hiking interest rates. CPI month on month came at 0.7% per year, versus 0.4% expected. Year over year it came at 3.4% versus 3.1%.
401 days ago
The surprise jump in French and Spanish inflation (CPI) helped the euro rebound. French consumer prices rose 7.2% in February, and Spanish 6.1%, increasing bets of further interest rate hikes by the European Central Bank. Stocks are expected to open lower in the US as treasury yields climbed slightly higher.
412 days ago
The recent solid US retail sales, jobs figures, and elevated inflation data (CPI, PPI) are pushing the dollar up. Treasury yields are now 4.6% for the 2-year and 3.9% for the 10-year. That's adding volatility (VIX +15% today) to markets: stocks but also FX and commodities (Oil -3.3% today). Looking at the Dollar-Swiss franc, it has started to weaken again versus the dollar. Technicals point to ∼0.94 as the next resistance.
413 days ago
The Philadelphia Federal Reserve Manufacturing Index fell to its lowest level since May 2020. Not a great sign for the global economy. Separately, Housing Starts & Building Permits Weakest Since COVID Lockdowns.
