USD/CHF loses momentum above the 0.9000 area, eyes on Israel-Palestine tensions
The post USD/CHF loses momentum above the 0.9000 area, eyes on Israel-Palestine tensions appeared on BitcoinEthereumNews.com. USD/CHF struggles to gain around 0.9018 on Monday. US Michigan Consumer Sentiment Index fell to 63.0 versus 68.1 prior, below the market estimations of 67.4. The escalating geopolitical tensions between Israel and Palestine might boost the traditional safe-haven Swiss Franc. Market players will monitor the US Retail Sales, and Swiss Trade Balance later this week. The USD/CHF pair remains under selling pressure above the 0.9000 area during the early Asian session on Monday. The downtick of the pair is bolstered by the softer US Dollar (USD) and a decline in US Treasury yield amid the rising geopolitical tensions in the Middle East. The pair currently trades near 0.9018, unchanged for the day. On Friday, the University of Michigan (UoM) one-year Inflation expectations climbed from 3.2% to 3.8%, and five-year inflation estimates jumped from 2.8% to 3%. Additionally, the preliminary US Michigan Consumer Sentiment Index data on Friday fell to 63.0 versus 68.1 prior, below the market estimations of 67.4. With the higher inflation expectation and the upbeat inflation data, investors anticipate a possible rate rise by the Federal Reserve (Fed) by the end of the year. The US Consumer Price Index (CPI) annually and monthly for September came in at 3.7% and 0.4%, respectively. However, the dovish comments from Fed officials might warrant bull traders on the aggressive bullish bets. The economic data from the Swiss Federal Statistical Office on Friday reported that the nation’s Producer and Import Prices dropped 1.0% YoY in September from a 0.8% drop in the previous month. On a monthly basis, the figures declined 0.1% versus a 0.8% drop prior. On Sunday, Israeli Prime Minister Benjamin Netanyahu vowed to “demolish Hamas” as his military got ready ground operations in Gaza to root out the militant group. Israel has been signaling that it is making preparations for…
The post USD/CHF loses momentum above the 0.9000 area, eyes on Israel-Palestine tensions appeared on BitcoinEthereumNews.com.
USD/CHF struggles to gain around 0.9018 on Monday. US Michigan Consumer Sentiment Index fell to 63.0 versus 68.1 prior, below the market estimations of 67.4. The escalating geopolitical tensions between Israel and Palestine might boost the traditional safe-haven Swiss Franc. Market players will monitor the US Retail Sales, and Swiss Trade Balance later this week. The USD/CHF pair remains under selling pressure above the 0.9000 area during the early Asian session on Monday. The downtick of the pair is bolstered by the softer US Dollar (USD) and a decline in US Treasury yield amid the rising geopolitical tensions in the Middle East. The pair currently trades near 0.9018, unchanged for the day. On Friday, the University of Michigan (UoM) one-year Inflation expectations climbed from 3.2% to 3.8%, and five-year inflation estimates jumped from 2.8% to 3%. Additionally, the preliminary US Michigan Consumer Sentiment Index data on Friday fell to 63.0 versus 68.1 prior, below the market estimations of 67.4. With the higher inflation expectation and the upbeat inflation data, investors anticipate a possible rate rise by the Federal Reserve (Fed) by the end of the year. The US Consumer Price Index (CPI) annually and monthly for September came in at 3.7% and 0.4%, respectively. However, the dovish comments from Fed officials might warrant bull traders on the aggressive bullish bets. The economic data from the Swiss Federal Statistical Office on Friday reported that the nation’s Producer and Import Prices dropped 1.0% YoY in September from a 0.8% drop in the previous month. On a monthly basis, the figures declined 0.1% versus a 0.8% drop prior. On Sunday, Israeli Prime Minister Benjamin Netanyahu vowed to “demolish Hamas” as his military got ready ground operations in Gaza to root out the militant group. Israel has been signaling that it is making preparations for…
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