The USD/CHF pair trades on a weaker note near 0.9145 during the early European session on Thursday. Traders seem to prefer to wait on the sidelines ahead of the release of the US preliminary Gross Domestic Product (GDP) Annualized for the first quarter (Q1) later in the day. In the meantime, any development surrounding escalating tensions in the Middle East might boost safe-haven assets like the Swiss Franc (CHF).
The US Federal Reserve's (Fed) policymakers agreed with the central bank’s position to remain on hold. The hawkish tone of the Fed has provided some support to the Greenback in recent weeks. However, investors have doubts about exactly when monetary policy easing will come. The US GDP growth number might offer some hints about how the US economy performs in Q1 of 2024.
The first estimated US GDP growth number is estimated to grow at a 2.5% annualized pace during the first quarter, compared to the previous reading of 3.4%. In case the report shows stronger-than-expected data, this might trigger speculation that the US Fed will delay the rate cut cycle, which might lift the US Dollar (USD).
On Wednesday, data released from the Centre for European Economic Research showed that Switzerland’s ZEW Survey Expectations improved to 17.6 in April compared to 11.5 in the previous reading. Apart from this, the ongoing geopolitical tensions in the Middle East might lift the CHF, a traditional safe-haven currency, and drag the USD/CHF lower.
Overview | |
---|---|
Today last price | 0.9143 |
Today Daily Change | -0.0008 |
Today Daily Change % | -0.09 |
Today daily open | 0.9151 |
Trends | |
---|---|
Daily SMA20 | 0.9083 |
Daily SMA50 | 0.8942 |
Daily SMA100 | 0.8784 |
Daily SMA200 | 0.8842 |
Levels | |
---|---|
Previous Daily High | 0.9153 |
Previous Daily Low | 0.9114 |
Previous Weekly High | 0.9152 |
Previous Weekly Low | 0.9012 |
Previous Monthly High | 0.9072 |
Previous Monthly Low | 0.873 |
Daily Fibonacci 38.2% | 0.9138 |
Daily Fibonacci 61.8% | 0.9129 |
Daily Pivot Point S1 | 0.9125 |
Daily Pivot Point S2 | 0.91 |
Daily Pivot Point S3 | 0.9086 |
Daily Pivot Point R1 | 0.9165 |
Daily Pivot Point R2 | 0.9178 |
Daily Pivot Point R3 | 0.9204 |
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