USD/CHF trades slightly higher around 0.8030 ahead of US PCE inflation data
The USD/CHF pair attracts slight bids and rises to near 0.8025 during the European trading session on Friday. The Swiss Franc pair ticks up as the US Dollar (USD) trades marginally higher ahead of the United States (US) Personal Consumption Expenditure Price Index (PCE) data for July, which will be published at 12:30 GMT.
During the press time, the US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, edges higher to near 98.00.
Investors will pay close attention to the core PCE inflation data – which excludes volatile items such as food and energy – as it is closely tracked by Federal Open Market Committee (FOMC) members for decision-making on interest rates.
The core PCE inflation is expected to come in higher at 2.9% on an annualized basis, against 2.8% in June. On a monthly basis, the underlying inflation is estimated to have grown steadily by 0.3%. The inflation data will influence market expectations for the Federal Reserve’s (Fed) monetary policy outlook.
Source: FXstreet
