Waiting on a CHF breakout
USDCHF pair remains in holding pattern, but for how much longer?
Share this:
Here is a review of the week's economic data:
The Consumer Price Index rose 0.4% on month in August (+0.3% expected), compared to +0.6% in July.
The Monthly Budget Deficit jumped to 200.1 billion dollars on month in August (242.7 billion dollars expected), from 63.0 billion dollars in July.
The Producer Price Index Final Demand increased 0.3% on month in August (+0.2% expected), compared to +0.6% in July.
Initial Jobless Claims remained at 884K for the week ending September 5th (850K expected), in line with a revised reading from the week before. Continuing Claims unexpectedly rose to 13,385K for the week ending August 29th (12,904K expected), from a revised 13,292K a week earlier.
Wholesale Inventories declined 0.3% on month in the July final reading (-0.1% expected), compared to -0.1% in the July preliminary reading.
The Mortgage Bankers Association's Mortgage Applications rose 2.9% for the week ending September 4th, compared to -2.0% in the prior week. US Job Openings increased to 6.618 million on month in July (6.000 million expected), from a revised 6.001 million in June.
The NZD, CAD and GBP had the largest percentage move over the last week against the USD
The CHF was this week's leader against the USD showing a 0.44% gain against the greenback. The GBP and CAD were the week's biggest losers at -0.94% and -3.59% respectively.
Looking at the chart, The USD/CHF pair remains in a holding pattern just below its 50-day moving average between 0.91875 resistance and 0.899 support. A breakout is favored to the downside continuing the prior trend.
Source: GAIN Capital, TradingView
Happy Trading
The Consumer Price Index rose 0.4% on month in August (+0.3% expected), compared to +0.6% in July.
The Monthly Budget Deficit jumped to 200.1 billion dollars on month in August (242.7 billion dollars expected), from 63.0 billion dollars in July.
The Producer Price Index Final Demand increased 0.3% on month in August (+0.2% expected), compared to +0.6% in July.
Initial Jobless Claims remained at 884K for the week ending September 5th (850K expected), in line with a revised reading from the week before. Continuing Claims unexpectedly rose to 13,385K for the week ending August 29th (12,904K expected), from a revised 13,292K a week earlier.
Wholesale Inventories declined 0.3% on month in the July final reading (-0.1% expected), compared to -0.1% in the July preliminary reading.
The Mortgage Bankers Association's Mortgage Applications rose 2.9% for the week ending September 4th, compared to -2.0% in the prior week. US Job Openings increased to 6.618 million on month in July (6.000 million expected), from a revised 6.001 million in June.
The NZD, CAD and GBP had the largest percentage move over the last week against the USD
The CHF was this week's leader against the USD showing a 0.44% gain against the greenback. The GBP and CAD were the week's biggest losers at -0.94% and -3.59% respectively.
Looking at the chart, The USD/CHF pair remains in a holding pattern just below its 50-day moving average between 0.91875 resistance and 0.899 support. A breakout is favored to the downside continuing the prior trend.
Source: GAIN Capital, TradingView
Happy Trading
Here is a review of the week's economic data:
The Consumer Price Index rose 0.4% on month in August (+0.3% expected), compared to +0.6% in July.
The Monthly Budget Deficit jumped to 200.1 billion dollars on month in August (242.7 billion dollars expected), from 63.0 billion dollars in July.
The Producer Price Index Final Demand increased 0.3% on month in August (+0.2% expected), compared to +0.6% in July.
Initial Jobless Claims remained at 884K for the week ending September 5th (850K expected), in line with a revised reading from the week before. Continuing Claims unexpectedly rose to 13,385K for the week ending August 29th (12,904K expected), from a revised 13,292K a week earlier.
Wholesale Inventories declined 0.3% on month in the July final reading (-0.1% expected), compared to -0.1% in the July preliminary reading.
The Mortgage Bankers Association's Mortgage Applications rose 2.9% for the week ending September 4th, compared to -2.0% in the prior week. US Job Openings increased to 6.618 million on month in July (6.000 million expected), from a revised 6.001 million in June.
The NZD, CAD and GBP had the largest percentage move over the last week against the USD
The CHF was this week's leader against the USD showing a 0.44% gain against the greenback. The GBP and CAD were the week's biggest losers at -0.94% and -3.59% respectively.
Looking at the chart, The USD/CHF pair remains in a holding pattern just below its 50-day moving average between 0.91875 resistance and 0.899 support. A breakout is favored to the downside continuing the prior trend.
Source: GAIN Capital, TradingView
Happy Trading
The Consumer Price Index rose 0.4% on month in August (+0.3% expected), compared to +0.6% in July.
The Monthly Budget Deficit jumped to 200.1 billion dollars on month in August (242.7 billion dollars expected), from 63.0 billion dollars in July.
The Producer Price Index Final Demand increased 0.3% on month in August (+0.2% expected), compared to +0.6% in July.
Initial Jobless Claims remained at 884K for the week ending September 5th (850K expected), in line with a revised reading from the week before. Continuing Claims unexpectedly rose to 13,385K for the week ending August 29th (12,904K expected), from a revised 13,292K a week earlier.
Wholesale Inventories declined 0.3% on month in the July final reading (-0.1% expected), compared to -0.1% in the July preliminary reading.
The Mortgage Bankers Association's Mortgage Applications rose 2.9% for the week ending September 4th, compared to -2.0% in the prior week. US Job Openings increased to 6.618 million on month in July (6.000 million expected), from a revised 6.001 million in June.
The NZD, CAD and GBP had the largest percentage move over the last week against the USD
The CHF was this week's leader against the USD showing a 0.44% gain against the greenback. The GBP and CAD were the week's biggest losers at -0.94% and -3.59% respectively.
Looking at the chart, The USD/CHF pair remains in a holding pattern just below its 50-day moving average between 0.91875 resistance and 0.899 support. A breakout is favored to the downside continuing the prior trend.
Source: GAIN Capital, TradingView
Happy Trading
Latest market news
Open an account in minutes
Experience award-winning platforms with fast and secure execution, and enjoy tight spreads from 0.5 pts on FX and 0.3 pts on indices.
Economic calendar
Web Trader platform
Our sophisticated web-based platform is packed with features.
Related articles
Australian Dollar Outlook: AUD/USD Holds 70c Ahead of RBA and CPI
AUD/USD faces an expected RBA hike and Australian CPI before attention turns to US PCE, ISM and nonfarm payrolls later in the week.
EUR/USD weekly outlook: Oil, inflation and NFP in focus
After coming under significant pressure in recent weeks, the EUR/USD came off its lows to finish the week on a positive note on Friday, albeit with only a mild rebound. That was not enough to prevent the exchange rate falling for the third consecutive week, as the US dollar and bond yields rallied across the board.
USD/JPY Weekly Outlook: Payrolls loom as US rates remain the dominant driver
Strong US growth and hawkish Fed pricing continue to support USD/JPY, while intervention risk appears to be kicking in at lower levels
This report is intended for general circulation only. It should not be construed as a recommendation, or an offer (or solicitation of an offer) to buy or sell any financial products. The information provided does not take into account your specific investment objectives, financial situation or particular needs. Before you act on any recommendation that may be contained in this report, independent advice ought to be sought from a financial adviser regarding the suitability of the investment product, taking into account your specific investment objectives, financial situation or particular needs.
StoneX Financial Pte. Ltd., may distribute reports produced by its respective foreign entities or affiliates within the StoneX group of companies or third parties pursuant to an arrangement under Regulation 32C of the Financial Advisers Regulations. Where the report is distributed to a person in Singapore who is not an accredited investor, expert investor or an institutional investor (as defined in the Securities Futures Act), StoneX Financial Pte. Ltd. accepts legal responsibility to such persons for the contents of the report only to the extent required by law. Singapore recipients should contact StoneX Financial Pte. Ltd. at 6826 9988 for matters arising from, or in connection with the report.
In the case of all other recipients of this report, to the extent permitted by applicable laws and regulations neither StoneX Financial Pte. Ltd. nor its associated companies will be responsible or liable for any loss or damage incurred arising out of, or in connection with, any use of the information contained in this report and all such liability is hereby expressly disclaimed. No representation or warranty is made, express or implied, that the content of this report is complete or accurate.
StoneX Financial Pte. Ltd. is not under any obligation to update this report.
Trading CFDs carries a high level of risk that may not be suitable for some investors. Consider your investment objectives, level of experience, financial resources, risk appetite and other relevant circumstances carefully. The possibility exists that you could lose some or all of your investments, including your initial deposits. If in doubt, please seek independent expert advice. Visit www.forex.com/en-sg/terms-and-policies for the complete Risk Disclosure Statement.