USD/CHF remains on track to gain beyond 0.9240 ahead of Swiss data.


  • USD/CHF prints minute gains on Friday in the Asian session.
  • US Dollar Index remains steady above 93.00 on stronger economic data.
  • The Swiss franc settles lower after SNB’s fx intervene stance.

After touching the high of 0.9240 in the overnight session, USD/CHF continues to trade higher in the Asian trading hours on Friday The pair hovers in a narrow trade band with an upward bias.

At the time of writing, USD/CHF is trading at 0.9234, up 0.02% for the day.

The appreciative move in the US dollar sponsored the move in the pair. The US dollar index remains strong above 93.00 

The US Initial Jobless Claims fell for the third consecutive week, the readings came at 375K in the week ended on August 7 whereas, the Producer Purchase Index (PPI) gained 1% in july, higher than the market forecast of 0.6%.

Meanwhile, Kansas City Federal Reserve President Esther George said that the time had come to end the central bank’s asset purchase program.

On the other hand, the Swiss franc surrenders gains against the stronger US dollar.
As for now, traders are waiting for the Swiss Producer and Import price, US Michigan Consumer Sentiment data to gauge the market sentiment.

USD/CHF additional levels

 



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