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Caution before the US NFP gained extra strength after New York Fed's John Williams stated that the Fed has its own way in continuing to raise interest rates.
On the other hand, IMF’s Georgieva said that recessions are intensifying in many countries, making the global growth outlook highly uncertain and risky. Meanwhile, S&P Futures fell 0.30% intraday to 4,070 while the US 10-year Treasury yield posted a dissonance bounce from a 10-week low to 3.54%. However, behind the decline in the Swiss currency, there is still hope as the majority of Fed policymakers, including Jerome Powell, have suggested an easy rate hike. In line with that, US Treasury Secretary Janet Yellen commented on it. In addition, most of the US data that experienced a dim also weighed on the price of the CHF.
Swiss Currency News Today
It is worth noting that the economic downturn has also been a factor in the recent weakness of the Swiss currency against the Dollar. Swiss Real Retail Sales fell to 2.5% YoY in October compared to the previously anticipated growth figure of 3.3%.In short, USD/CHF shows a pre-data correction and there is a possibility of further currency decline after US statistics. It is estimated that NFP will also likely decline with a print of 200,000 against the previous data of 261,000, while unemployment is stable at 3.7%. That is the information we provide for you regarding the development of the Swiss currency. Update various interesting information about the Forex world through the GIC journal every day. Of course, you can also trade on the GICTrade application with the latest ECN account feature, enjoy trading starting from 0 Rupiah with the lowest spread! You can also have the opportunity to win billions of Rupiah in prizes without lottery conditions through the GIC Gebyar Hadiah.
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