We recently noticed that some third-party companies and individuals impersonated the TOPONE Markets brand and illegally misappropriated our trademarks.

We Hereby Reiterate Our Statement:

TOPONE Markets does not provide discretionary account operation trading services, nor does it cooperate with other third-party vendors and/ or agents to provide such services.
TOPONE Markets staff will not promise to our customer the definite profit, please do not trust any kind of the profit promise or profit related picture, such as screenshot/ chat history, etc, all investment profit can be only viewed on our official website and application.
TOPONE Markets is a professional online trading platform with low spreads and zero handling fees. Be wary of any behavior that asks you for any fees directly and privately. TOPONE Markets does not charge a fee at any stage of its trading process or other fee.

If you have any questions or concerns, please feel free to reach us by clicking the "Online Customer Support" or send an email to our customer care team cs@top1markets.com. We will answer your questions and assist you promptly.

Understood

We use cookies to learn more about how you use our website and what we can improve. Continue to use our website by clicking "Accept". Details

This website does not provide services to residents of United States.

Trader Affiliates

Market News USD/CHF Falls Toward 0.9050 As Fed Policymakers Advocate a Hiatus And As The Us Nfp Is Anticipated

USD/CHF Falls Toward 0.9050 As Fed Policymakers Advocate a Hiatus And As The Us Nfp Is Anticipated

USD/CHF is anticipated to extend its decline to 0.9050 in the wake of dovish Fed Harker commentary. Fed Harker is confident that the US economy will not experience a recession. SNB Jordan is committed to reducing inflation to below 2% as quickly as feasible, as he views inflation risks as being greater than deflation risks.

TOP1 Markets Analyst

2023-06-02

8236

USD:CHF.png

The USD/CHF pair is in a bearish phase in early Asian trading and is anticipated to continue falling toward the crucial 0.9050 support level. Following dovish remarks from Federal Reserve (Fed) policymakers, the value of the Swiss Franc plummeted sharply.

S&P500 futures have added some gains in Asia following a bullish session on Thursday, reflecting an appetite for risk. Fed officials' dovish comments infused risk-perceived assets with new life and weighed significantly on the US Dollar Index (DXY).

After an intense sell-off, the US Dollar Index (DXY) is assessing intermediate support around 103.50. Patrick Harker, president of the Philadelphia Federal Reserve Bank, stated on Thursday that he believes it is appropriate for the central bank to 'pause' for at least one meeting, reiterating his comments from Wednesday regarding a possible pause at the next meeting. Harker argued that such a move at this juncture would be prudent.

Fed Harker is confident that the U.S. economy will not experience a recession, but a significant decline in the labor market cannot be ruled out.

The subsequent issuance of the US Nonfarm Payrolls report will shed more light on the Employment situation. Analysts at Danske Bank stated, "We anticipate another relatively optimistic US Employment Report." Up to this point, leading indicators have pointed to robust employment growth, which could be bolstered by a renewed increase in labor force participation. We estimate that NFP increased by 200,000."

On the Swiss Franc front, annual Real Retail Sales (April) decreased by 3.7%, whereas the consensus forecast was for a contraction of 1.4% and previous data showed a decrease of 1.9%. Due to deglobalization, Swiss National Bank (SNB) Chairman Thomas Jordan stated on Wednesday that inflation must be brought back below 2% as soon as feasible and that inflation risks in the future are greater than deflation risks.