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Market News USD/CHF Exceeds 0.9580 Due to Deteriorating Market Sentiment; Attention is on Swiss GDP and US NFP

USD/CHF Exceeds 0.9580 Due to Deteriorating Market Sentiment; Attention is on Swiss GDP and US NFP

The USD/CHF is attempting to break above 0.9580 as the risk-off impulse recovers. Investors will focus on the announcement of the US nonfarm payrolls and Swiss gross domestic product figures. Market participants anticipate a substantial improvement in Swiss GDP figures.

Daniel Rogers
2022-05-30
549

截屏2022-05-30 下午12.02.52.png 

 

Early in the Tokyo session, the USD/CHF pair is steadily climbing higher as a little improvement in market sentiment irritates risk-perceived currencies. After a slight decline in the first hour of trade, the pair has reached a session high of 0.9583 in Asia.

 

A two-week decline in an asset is typically followed by a modest recovery. Following the same logic, the US dollar index (DXY) is getting bids near its monthly lows of 101.43. The probability that the Federal Reserve (Fed) will raise interest rates by 50 basis points (bps) in its monetary policy statement for June increases with each trading session. Rising pricing pressures and a congested labor market have an influence on household incomes.

 

This week, investors will be focused on Friday's release of the US Nonfarm Payrolls (NFP). The US Bureau of Labor Statistics is anticipated to report an increase of 310,000 jobs in the labor market. The US NFP statistic remained unchanged at 428k last month.

 

Regarding the Swiss franc, market participants await Tuesday's Gross Domestic Product report (GDP). The quarterly GDP is anticipated to increase to 0.4% from the previous reading of 0.3%. While the annual GDP rate may increase greatly to 4.4% from 3.7% in the future, the rate was previously 3.7%. The expectations appear to be considerably more lucrative than the prior figures, and oh God, what will occur if the print outperformance exceeds the predictions?


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