Menu

Search

  |   Commentary

Menu

  |   Commentary

Search

FxWirePro: USD/CHF trapped in bull/bear fight

Thanks to the recent weakness in the value of USD against a wide range of currencies has helped the USD/CHF bears to regain control from the bulls. The bears have been gaining control since May, as the rate declined from 1.024 area to 0.99 area. However, the dovish comments from the U.S. Federal Reserve accompany with a dovish rate cut forecast to the tune of 50 bps has given the final push.

The exchange rate has now declined to 0.972 area.

Forecasts:

The bears are clearly in near term control and the rate is already down more than 500 pips from the last peak. Further downside possibility remains with Bears aiming for a test of 0.92 support area.

However, a drop of another 500 pips unlikely to be smooth with sharp decline as the Bulls has a very strong base around 0.95 area, where longer horizon speculators likely to enter positions aiming 1.07 area.

  • ET PRO
  • Market Data

Market-moving news and views, 24 hours a day >

July 2 15:00 UTC Released

DKCurrency Reserves

Actual

449.6 Stale

Forecast

Previous

451.7 Stale

July 2 13:45 UTC Released

USISM NY Biz Conditions

Actual

50 %

Forecast

Previous

48.6 %

January 31 00:00 UTC 773662773662m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 773662773662m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 22 19:00 UTC 785482785482m

ARTrade Balance

Actual

Forecast

Previous

-1541 %

January 31 00:00 UTC 773662773662m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 22 19:00 UTC 785482785482m

ARTrade Balance

Actual

Forecast

Previous

-1541 %

January 31 00:00 UTC 773662773662m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 773662773662m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 773662773662m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.