• Sat, Jan 17, 2026|
  • JKT --:--
  • TKY --:--
  • HK --:--
  • NY --:--

Indonesia News Portal for Traders | Financial & Business Updates

31 October 2024 15:16  |

USD/CHF softens to near 0.8650 ahead of US PCE inflation data

The USD/CHF pair drifts lower to around 0.8655 during the early European session on Thursday. Persistent safe-haven flows amid the uncertainty surrounding the US presidential election on November 5 and Middle East tensions continue to support the Swiss Franc (CHF).

The US economic data continues to suggest that the US economy remains strong and supports prospects for less aggressive policy easing by the Federal Reserve (Fed). This, in turn, might cap the downside for the Greenback in the near term. Markets are pricing in about 96% odds of a 25 basis points (bps) rate cut by the Fed, according to CME's FedWatch Tool.

Traders will keep an eye on the US Personal Consumption Expenditure (PCE) Price Index, which is due later on Thursday. On Friday, the US employment data will take center stage, including the Nonfarm Payrolls (NFP), Unemployment Rate, and Average Hourly Earnings.

The race between Republican Donald Trump and Democrat Kamala Harris remains close ahead of the November 5 US presidential election. The ongoing geopolitical tensions in the Middle East and the uncertainty related to the outcome of the US election could lift the CHF and act as a headwind for USD/CHF for the time being.

Source: FXStreet

Related News

USD/CHF

The Swiss Franc traded around 0.86 per USD

The Swiss Franc traded around 0.86 per USD, close to two-month lows, pressured by a stronger dollar ahead of the looming U.S....

24 October 2024 16:52
USD/CHF

USD/CHF is reaching its upper limit

The USD/CHF pair has been on a rollercoaster ride of late, but after a period of US dollar strength UBS thinks the pair may b...

21 October 2024 16:54
USD/CHF

USD/CHF softens to near 0.8650 ahead of US PCE inflation dat...

The USD/CHF pair drifts lower to around 0.8655 during the early European session on Thursday. Persistent safe-haven flows ami...

31 October 2024 15:16
BIAS23.com NM23 Ai