Mitrade Insights is dedicated to providing investors with rich, timely and most valuable financial information to help investors grasp the market situation and find timely trading opportunities.
    2021
    Best News & Analysis Provider
    FxDailyInfo
    2022
    Best Forex Educational Resources Global
    International Business Magazine

    USD/CHF rebounds ahead of Swiss ZEW Survey Expectations, trades near 0.8800

    Source Fxstreet
    Feb 28, 2024 05:32
    • USD/CHF improves to near 0.8800 ahead of Swiss ZEW Survey Expectations.
    • Swiss GDP is expected to report a decline in the fourth quarter of 2023.
    • US GDP is anticipated to remain unchanged at 3.3% in the fourth quarter of 2023.

    USD/CHF rebounds after two days of losses, improving to near psychological level of 0.8800 during the Asian trading hours on Wednesday. The Swiss Franc (CHF) receives downward pressure ahead of the Swiss ZEW Survey – Expectations, scheduled to be released later in the day.

    Furthermore, investors await the Gross Domestic Product (GDP) by the Swiss State Secretariat for Economic Affairs (SECO) on Thursday, which is expected to report a decline in the fourth quarter of 2023.

    Furthermore, the Swiss Real Retail Sales conducted by the Swiss Federal Statistical Office will be released on Thursday. The market expectation is to grow by 0.4% year-over-year in January, swinging from the previous decline of 0.8% in December.

    On the other side, market expectations anticipate that the US GDP will remain steady at 3.3% in the fourth quarter of 2023. The Federal Reserve (Fed) has signaled caution regarding any hasty reductions in interest rates, leading to a decreased likelihood of a rate cut in March. This has exerted downward pressure on the US Dollar (USD).

    According to the CME FedWatch Tool, the probability of rate cuts in March has decreased to 1.0%, while the likelihood of cuts in May and June stands at 21% and 49.8%, respectively.

    US Housing Price Index (MoM) increased by 0.1% in December, falling short of both the expected 0.3% increase and the prior 0.4% increase. Additionally, US Durable Goods Orders declined by 6.1%, contrasting with an expected decrease of 4.5% and a previous decrease of 0.3%.

     

    Disclaimer: For information purposes only. Past performance is not indicative of future results.
    placeholder
    GBP/JPY Price Analysis: Slumps below 192.00 amid risk-off moodAfter consolidating around 192.00 for the last three days, the GBP/JPY finally tumbled to the 191.00 handle.
    Source  Fxstreet
    After consolidating around 192.00 for the last three days, the GBP/JPY finally tumbled to the 191.00 handle.
    placeholder
    USD/JPY goes on a roller-coaster ride prompted by geopolitical riskUSD/JPY is trading in the 154.50s on Friday after declining to a low for the day in the 153.00s on the back of a spike in safe-haven demand that disproportionately favored the Japanese Yen (JPY).
    Source  Fxstreet
    USD/JPY is trading in the 154.50s on Friday after declining to a low for the day in the 153.00s on the back of a spike in safe-haven demand that disproportionately favored the Japanese Yen (JPY).
    placeholder
    GBP/USD remains on the defensive above 1.2420, eyes on UK CPI dataThe GBP/USD pair remains on the defensive around 1.2430 during the early Asian session on Wednesday.
    Source  Fxstreet
    The GBP/USD pair remains on the defensive around 1.2430 during the early Asian session on Wednesday.
    goTop
    quote