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
이 웹사이트 미국 거주자에게 서비스를 제공하지 않습니다.
Market News USD/CHF Remains Unchanged Below The 0.9000 Threshold Advance Of Swiss Trade Balance And US Data

USD/CHF Remains Unchanged Below The 0.9000 Threshold Advance Of Swiss Trade Balance And US Data

The USD/CHF exchange rate remains unchanged at 0.8970 amidst cautious sentiment. At its September meeting, the Federal Reserve (Fed) is widely anticipated to suspend interest rates. The Swiss National Bank (SNB) is anticipated to increase interest rates by 25 basis points (bps), from 1.75 percent to 2 percent. On Wednesday and Thursday, respectively, the Fed and SNB will announce their respective interest rate decisions.

TOP1 Markets Analyst
2023-09-19
11688

 USD:CHF 2.png

 

During Tuesday's early Asian trading hours, the USD/CHF currency pair fluctuates around 0.8970. In the meantime, the US Dollar Index (DXY), a measure of the value of the USD relative to six other major currencies, is experiencing some follow-through selling but remains above 105.10. Markets prefer to wait on the periphery ahead of the interest rate policy announcement from the Federal Reserve (Fed) and the Swiss National Bank (SNB) on Wednesday and Thursday, respectively.

 

The Federal Reserve (Fed) is slated to announce the two-day monetary policy meeting on Wednesday, and it is widely anticipated that interest rates will remain unchanged. There is a 99% chance that the Federal Reserve will maintain the status quo with interest rates. According to the CME Fedwatch Tool, the probability of a meeting in November has dropped below 30%. In turn, this may push the US Dollar lower against its competitors and act as a headwind for the USD/CHF pair. Traders will attentively monitor Federal Reserve Chairman Jerome Powell's press conference, which may provide hints about the future direction of interest rates.

 

On Thursday, the Swiss National Bank (SNB) is anticipated to increase additional interest rates by 25 basis points (bps) from 1.75 percent to 2 percent. The Swiss central bank is anticipated to maintain its restrictive stance in order to maintain price stability, as the most recent year-over-year inflation rate of 1.6% is still below the 2% target.

 

On Monday, US Secretary of State Antony Blinken conferred with Chinese Vice President Han Zheng on the sidelines of the General Assembly of the United Nations. The US Department of State stated that the discussion was "open and productive." Traders will closely monitor the news regarding the US-China relationship. Nonetheless, the renewed trade war tensions between the United States and China may benefit the traditional safe-haven Swiss franc and operate as a headwind for USD/CHF.

 

The Swiss Trade Balance, US Housing Starts, and US Building Permits will be released later in the day. Before Thursday's SNB meeting, market participants will intently monitor Wednesday's Fed interest rate decision. These events may spark market volatility and provide a distinct direction for the USD/CHF pair.

Bonus rebate to help investors grow in the trading world!

Need Assistance?

7×24 H

Download the APP for Free