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The USD/CHF pair continues to trade within a narrow range, attempting to capitalize on a modest rebound from the 0.9030 level, which marks a two-week low. Currently, spot prices are hovering around 0.9060, with little change on the day, indicating restrained market activity, particularly for the US dollar.
The US Dollar Index (DXY), which measures the dollar's performance against a basket of currencies, is also struggling to sustain its rebound from yesterday's monthly low.
Expectations that the Federal Reserve may cut interest rates twice this year are weighing on the dollar. However, the rise in US Treasury yields is providing some support to the greenback, which, in turn, supports the USD/CHF pair.On the other hand, comments from Swiss National Bank (SNB) Chairman Martin Schlegel hinting at the possibility of introducing negative interest rates continue to pressure the Swiss franc (CHF). Additionally, the bullish trend in equity markets is weakening demand for safe-haven assets like the CHF, limiting the potential for significant declines in the USD/CHF pair.
Traders appear to be adopting a wait-and-see approach ahead of US President Donald Trump's speech at the World Economic Forum, where important announcements regarding tariffs may be made. This could trigger volatility in global financial markets and impact the USD's performance, influencing the USD/CHF pair and providing new trading opportunities.
Today, attention will also focus on the US weekly initial jobless claims data, scheduled for release during the early North American session. However, the current fundamental backdrop suggests caution before taking positions to continue the recent pullback from the 0.9200 level, which is the highest level since May 2024, reached earlier this month.
From a technical perspective, oscillators on the daily chart remain in positive territory, preventing the pair from experiencing deeper losses.
*এখানে পোস্ট করা মার্কেট বিশ্লেষণ আপনার সচেতনতা বৃদ্ধির জন্য প্রদান করা হয়, ট্রেড করার নির্দেশনা প্রদানের জন্য প্রদান করা হয় না।
ইন্সটাফরেক্স বিশ্লেষণমূলক পর্যালোচনাগুলো আপনাকে মার্কেট প্রবণতা সম্পর্কে পুরোপুরি সচেতন করবে! ইন্সটাফরেক্সের একজন গ্রাহক হওয়ায়, দক্ষ ট্রেডিং এর জন্য আপনাকে অনেক সেবা বিনামূল্যে প্রদান করা হয়।
