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European Open: China’s Imports Rise, CPI Up Next

Whilst China's exports missed expectations, imports rose an impressive 38.1% YoY to show demand from the world's second largest economy is also on the rise. Asian Indices: Australia's ASX 200 index fell by -6 points (-0.09%) to close at 6,968.00 Japan's Nikkei 225 index has risen by 248.91 points (0.48%)...

USD/CHF Retreats To Major Support

The US dollar is treading water as traders await inflation data which would dictate the next movement. The greenback has fallen back to test the medium-term support (0.9210) from the daily chart after a three-month-long rally. An RSI divergence right above the key level is a sign that the correction has...

Euro Reversed Course on Less Pessimistic European Outlook, Commodity Currencies Ignored Risk Rallies

Swiss Franc and Euro ended as the strongest ones last week, as investors reversed their short positions accumulated in Q1. In particular, such reversals pushed Sterling to be the worst performing one, suffering heavy pressure against both Euro and Franc. The outlook for European looked a bit less pessimistic...

CFTC Commitments of Traders – Net Long Trimmed on All Majors

As suggested in the CFTC Commitments of Traders report in the week ended April 6, NET LENGTH of USD index futures dropped -1 277 contracts to 4 449. Speculative long positions declined -2 807 contracts while shorts fell -1 530 contracts. Concerning European currencies, NET LENGTH in EUR futures...

USD Prepares To End The Week Lower

The greenback seems poised to end the week lower against a number of its counterparts, in one of the worst weeks of the year. On the monetary front Fed officials tended to remain rather dovish, with Fed Chairman Powell downplaying inflationary risks for the US economy while St. Louis...

CHF/JPY 4H Chart: Reveals Narrow Channel

The Swiss Franc has edged higher by 1.18% against the Japanese Yen since April 1. The currency pair revealed a narrow ascending channel pattern during this week's trading sessions. As for the near future, the exchange rate could continue to surge in the narrow ascending channel. The potential target for...

CAD/CHF 4H Chart: Decline Likely To Continue

The Canadian Dollar has declined by 2.32% against the Swiss Franc since April 1. The currency pair breached the 50– and 200– period SMAs during this week's trading sessions. All things being equal, the exchange rate is likely to edge lower during the following trading sessions. The potential target for...

USD/CAD Forms Double Top Pattern Ahead Of Canada Jobs Numbers

The US dollar wavered after the weak initial jobless claims numbers. According to the Bureau of Labour Statistics (BLS), the number of people filing for initial jobless claims rose from 728,000 to 744,000 last week. This was a bigger increase than the median estimate of 680,000. In the same...

USDCHF Breaks 6-Week Bullish Streak, Medium-Term Uptrend Intact

USDCHF came under significant downside pressure this week, quickly trimming its six-week bullish streak and diving back below the 0.9300 level. Although the pair has dipped below the supportive 20-day simple moving average (SMA), the medium-term market structure remains skewed to the upside, with the golden cross between the 50-...

EUR/USD Tests Key Resistance As The Dollar Sell-Off Accelerates

The Australian dollar wavered in early trading as the market reflected on the strong services and construction data. According to Markit, the country’s services PMI rose from 53.4 in February to 55.5 in March as demand and optimism rose. In the same period, the construction index rose from 57.4...

Euro and Franc Strong in Mixed Markets, Dollar Await FOMC Minutes

Euro and Swiss Franc are currently the strongest ones for the week, but overall markets are relatively mixed. The rise in Euro owes a large part to Sterling's pull back, as well as Dollar's weakness for now. While overall risk sentiments are positive, there is no clear strength in...

USD/CHF Corrects Lower, 0.9300 Holds The Key

Key Highlights USD/CHF struggled near 0.9475 and started a downside correction. It traded below a major bullish trend line with support at 0.9415 on the 4-hours chart. EUR/USD is attempting a steady recovery above 1.1850, GBP/USD failed to settle above 1.3900. Gold price is showing positive signs above $1,700...

Australian Dollar Steady After The Hawkish RBA Decision

The Japanese yen was little changed even after relatively weak economic numbers from the country. The country’s statistics agency said that household spending rose by 2.4% in February after falling by 7.3% in the previous month. This improvement was worse than the expected increase of 2.8%. Spending declined by...

EURCHF Fluctuates in Neutral Phase Below 1.11

EURCHF has been trading in a horizontal trajectory over the last month, struggling within the short-term simple moving averages (SMAs) in the 4-hour chart. The RSI is holding marginally above the 50 level, however, the stochastic posted a bearish crossover within its %K and %D lines, suggesting a downside movement. A drop...

Sterling Rises in Subdued Markets, Stocks to Extend Record Runs

Sterling rises together with commodity currencies today. Trading has been rather subdued with most markets closed. But activities should come back to life in US session. US futures point to sharply higher open with DOW likely to ride on the sentiment to extend recent record runs. Euro and Dollar...

GBP rises against EUR and CHF in quiet trading

Sterling surges broadly in quiet holiday trading today, in particular against other European majors. GBP/CHF resumes recent up trend by breaking through last week's high of 1.3059. Rise from 1.1683 is seen as the third leg of the whole up trend from 1.1102. Next target is 1.3310 medium term...

CFTC Commitments of Traders – Bets on Lower Euro Soared on Rising US Yields and Renewed Lockdowns

As suggested in the CFTC Commitments of Traders report in the week ended March 30, NET LENGTH of USD index futures added +343 contracts to 5 726. Speculative long positions gained +2 667 contracts while shorts added +2 324 contracts. Concerning European currencies, NET LENGTH in EUR futures slumped...

USDCHF Jittery ahead of Long-Term Restrictive Line

USDCHF’s attempts to navigate towards the looming long-term restrictive trend line may not be in vain, even though its positive spark seems to be fading. As mentioned, the bullish impetus appears to be withering from its fresh nine-month high of 0.9472, however, the Ichimoku lines are suggesting that the...

USDCHF sees rally over-stretched

The US dollar tanked after an increase in US jobless claims tempered market optimism. The pair has met stiff selling pressure at 0.9470 since last July. The RSI has repeatedly ventured into the overbought area and suggested that the rally could have overextended itself. 0.9400 is the immediate support and a bearish...

Swissie Falls Despite Sparkling Swiss KoF

The Swiss franc is trading in negative territory in the Tuesday session. Currently, USD/CHF is trading at 0.9422, up 0.35% on the day. On the fundamental front, Switzerland releases the Credit Suisse Economic Expectations Index (Wednesday, 8:00 GMT). KoF Economic Barometer soars The KoF Economic Barometer, a key indicator of business confidence,...

Swissie at 8-Month Lows, KoF Barometer Next

The Swiss franc has started the week quietly. Currently, USD/CHF is trading at 0.9398, up 0.08% on the day. Swiss franc steady ahead of KoF Economic Barometer The KoF Economic Barometer, a key indicator of business confidence, will be released on Tuesday (7:00 GMT). The KoF slipped below its long-term average of...

EUR/GBP downside breakout, is GBP/CHF following?

Sterling rises broadly in early part of European session, with downside breakout in EUR/GBP. The break of 0.8537 support confirms resumption of the fall from 0.9291, as the third leg of the pattern from 0.9499 high. Deeper decline would now be seen towards 0.8276 key long term support level. One...

CFTC Commitments of Traders – Net Length for Commodity Currencies Declined

As suggested in the CFTC Commitments of Traders report in the week ended March 23, NET LENGTH of USD index futures dropped -454 contracts to 5 383. Speculative long positions gained +1 271 contracts while shorts added +1 725 contracts. Concerning European currencies, NET LENGTH in EUR futures rose...

USDCHF Spikes to 0.9417 But Struggles to Beat 123.6% Fibonacci Extension

USDCHF is tackling the 0.9414 level, which happens to be the 123.6% Fibonacci extension of the down leg from 0.9375 to 0.9213. The soaring simple moving averages (SMAs) are nurturing the positive structure, while the Ichimoku lines are reflecting a minor pausing in bullish sentiment. However, the short-term oscillators are...

USD/CHF Rallies Above Double Top

The US dollar continues its advance against the Swiss franc after solid GDP growth last month. The buck's previous bounce from the 20-day moving average (0.9220) and then a close above 0.9300 have put the uptrend back on track. The bullish breakout above the double top at 0.9375 would trigger...

Sterling Forms Double Bottom Ahead Of The UK Retail Sales

The British pound rose against the US dollar ahead of important UK retail sales numbers. The median estimate is for the country’s core retail sales to rise from -8.8% in January to 1.9% in February. This will lead to an annualised decline of 1.5%. The headline retail sales are...

After SNB Decision, Will Swiss Franc Resume its Decline?

The Swiss franc is unchanged in Thursday trading. Currently, USD/CHF is trading at 0.9353, down 0.02% on the day. Swiss franc steady as SNB holds the course There were no surprises from the Swiss National Bank, which held its policy meeting on Wednesday. As expected, the bank maintained its key rate at...

Swiss Franc Decline Slows after SNB, Dollar Attempting Rise after Jobless Claims

Sterling trades mildly higher in rather quiet market today while Euro and Yen turn softer. Dollar is attempting to extend this week's rally after better than expected jobless claim data. But no follow through buying is seen in the greenback yet. Swiss Franc's selloff slowed mildly after SNB upgraded...

SNB Appears Less Concerned about Franc’s Strength, Raises Inflation Forecasts

The SNB left all its monetary policy measures unchanged. It kept the policy rate and interest on sight deposits at −0.75% and pledged to continue intervening the FX market if necessary. While leaving the growth outlook intact, the central bank upgraded slightly the inflation forecasts. In the accompanying statement, the...

CHF/JPY 4H Chart: Decline Likely To Continue

The Swiss Franc has edged lower by 213 pips or 1.80% against the Japanese Yen since last week's trading sessions. The exchange rate breached the 50– and 200– period SMAs this week. Technical indicators flash selling signals on the 4H and daily time-frame charts. Most likely, the currency pair could...