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Forex Friday: USD, GBP, TRY, CHF and JPY
In this week’s edition, we discuss the dollar’s latest big gains following this week’s central bank meetings, among other things.
Copper and USD/CHF have a high negative correlation!
As long as the correlation holds, traders who don’t have access to trade copper can use USD/CHF as a proxy.
SNB surprises everyone and hikes 50bps! USD/CHF falls 300 pips
The central bank also said the franc is no longer overvalued; however, they stand ready to intervene in the fx market if necessary.
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Dollar could find renewed strength ahead of CPI, FOMC
The USD/CHF is on watch as dollar catches bid against currencies where the central bank remains dovish
Swiss CPI strong; Is the SNB ready to act?
The CPI reading for Switzerland in April was 2.9% YoY, its highest level since September 2008!
Is it time for USD/CHF to pullback ahead of parity as DXY consolidates?
The US Dollar Index (DXY) and USD/CHF have a very strong positive correlation.
Technical Tuesday: DJIA, USD/CHF and Copper
Technical analysis on some of the most interesting markets right now
How to use the Gold USD correlation to trade fx
Since the start of the year, the correlation between Gold and the US Dollar has been negative a majority of the time
USD/CHF - Suspected Correction Stalls At A Pivotal Level
Near the end of March, we outlined USD/CHF’s potential to rebound before its next leg lower. With the rebound having since occurred, we’re now watching closely for signs of bearish momentum to return.
USD/CHF Nearing a Make-or-Break Test of Resistance
If you had checked USD/CHF’s exchange rate at Friday’s close and a mere 30 minutes after Monday’s open, you wouldn’t think anything was amiss…at least if you didn’t have any stop losses within 100 pips!
USD/CHF: Dollar undermined by dovish Fed
So, the Federal Reserve successfully helped to inspire a stock market rally that helped to push the major US stock indices to new highs for the year, while the Dollar Index was pushed back to its early January lows.
USD/CHF: Risk appetite turns sour
Safe-haven gold, yen and franc have all been supported by weakness in the stock markets, with the benchmark US indices turning red after a green open.
USD/CHF: Dollar falls for second day
The greenback has been undermined by growing speculation that, at best, the Federal Reserve will deliver a dovish rate hike, while there is a possibility – a small possibility, but a possibility nonetheless – that it could even hold off hiking altogether.
USD/CHF ignores stock market volatility
Although slightly higher today, the perceived safe-haven Swiss franc has been repeatedly hitting new lows on the year against the US dollar, despite the recent stock market sell-off.
USD/CHF: False Break to 17-Month Highs or a Mere Hesitation?
As you might expect from the undeniably “risk-off” tone throughout the month of October, the “safe haven” Japanese yen was last month’s best-performing major currency. The big surprise, however, came from a different safe haven currency; the Swiss franc was the weakest major on the month, edging out the euro.
Is USD/CHF’s Big Rally Stalling Below Parity?
It’s been another rough day for global stock investors (see my colleague Fawad Razaqzada’s note “Global stocks extend decline as Chinese markets resume slide” for more), so it’s not surprising that the safe haven Japanese yen is once again at the top of the FX relative performance charts. What is interesting is the price action in the US dollar, which is the worst-performing major currency on the day.
USD/CHF’s post-FOMC rally pauses as Italian banks drop
The big story of yesterday in the FX markets was the big breakout in the dollar following the Federal Reserve’s rate decision the day before.
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USD/CHF Oscillating Around 0.9700 Ahead of Next Week’s SNB Meeting
Political headlines and trade fears are dominating the headlines in today’s North American session, leading to a slight risk-off tone despite a positive open for risk assets. As a result, we’ve seen the US dollar, Japanese yen, and Swiss franc ascend to become the strongest major currencies on the day after bringing up the rear through the first four days of the trading week.
USD/CHF: Crowded Longs Scrambling to Abandon Ship?
A full six weeks ago, we highlighted how the combination of a bearish candlestick formation and a clear divergence in the RSI indicator suggested that USD/CHF could be topping (see “USD/CHF: Potential bearish reversal forming at 14-month highs” for more).
USD/CHF: Potential bearish reversal forming at 14-month highs
If you were just to look at the where the major currencies are trading relative to yesterday’s US close, you’d think it’s been a pretty quiet day; after all, none of the majors are trading more than 0.3% from the day’s open as of writing.
Dollar rises as import tariffs boost inflationary pressures
Trade war concerns resurfaced overnight when news broke out that the US will announce tariffs on further $200 billion of imports from China with levies of 10% on the products.
USD/CHF looks poised for breakout
The SNB still charges negative interest rates and maintains that despite the recent weakening of the Swiss franc that the currency remains overvalued. This makes the USD/CHF fundamentally supported.
USD/CHF drifts higher as US-Swiss monetary policy disparity grows
Ahead of Friday US jobs report, the USD/CHF has been among the strongest dollar pairs. This has been mainly due to a slumping CHF rather than a rallying USD.