TrendsWide
Contact US
  • Home
  • Trending
  • Health
  • Life Style
  • NBA
  • Reviews
No Result
View All Result
TrendsWide
  • Home
  • Trending
  • Health
  • Life Style
  • NBA
  • Reviews
No Result
View All Result
TrendsWide
No Result
View All Result
Home Economie

USD/CHF sinks to 6-week low as US bond yields retreat

by souhaib
April 19, 2021
in Economie
0
USD/CHF sinks to 6-week low as US bond yields retreat
74
SHARES
1.2k
VIEWS
Share on FacebookShare on TwitterShare on Reddit
ADVERTISEMENT


The USD/CHF price declined by more than 0.75% on Monday as the market reflected on the weaker US dollar. The pair fell to 0.9133, which was the lowest level since March 1.

You might also like

‘momentum is continuing into 2022’

Astra Space stock closed down 20% on Monday: here’s why

Ripple, Dogecoin, Litecoin price forecast for February 2022

Swiss franc
Swiss franc price action

Swiss franc gains momentum

The Swiss franc gained momentum against the US dollar as the Treasury yields continued to drop. The 10-year bond yield declined to 1.56%, which was below the year-to-date high of 1.76%. The 30-year yield declined to 2.26%, which is a sign that investors expect that the Federal Reserve will not hike rates any time soon. 


Are you looking for fast-news, hot-tips and market analysis?

Sign-up for the Invezz newsletter, today.

In addition to the Swiss franc, the US dollar dropped by more than 0.50% against most currencies like the euro, sterling, and Japanese yen. However, the Swiss franc was generally unmoved against other currencies like the sterling and euro, as shown below.

USD/CHF sinks to 6-week low as US bond yields retreat
Swiss franc vs British pound, euro, and the US dollar

The USD/CHF has been in a steep sell-off recently even after the divergent economic numbers from the US and Switzerland. In the US, recent numbers showed that the unemployment rate dropped to 6.0% in March while the economy added more than 900k people. As the country ramps up its vaccination drive, this trend will likely continue. 

Further, the US is considering implementing a major infrastructure project that could cost more than $2 trillion. This will be the biggest spending on record. Analysts expect a few Republicans will support the spending in a bid to improve the country’s key infrastructure projects like roads and bridges.

Last week, data from the US showed that consumer prices and retail sales rallied last month. The industrial and manufacturing sectors have also done well. 

Therefore, while these numbers should be good for the USD/CHF, the Fed’s hesitancy on rates has led to a weaker dollar. The Fed has insisted that interest rates will remain at the current level for a few more years. 

Tip: looking for an app to invest wisely? Trade safely by signing-up with our preferred choice,
eToro:

visit & create account

USD/CHF outlook

USD/CHF
USD/CHF technical chart

The USD/CHF pair has been in a strong downward trend in the past few weeks. On the four-hour chart, the pair has dropped close to the 50% Fibonacci retracement level. It has also moved below the short and longer-term moving averages. It has also tested the second support of the standard pivot points. You can learn about these concepts in our free forex trading course.

Therefore, the pair will likely continue falling as bears target the third support level at 0.9075, which was the lowest level since February 25. However, we should not rule out a retest of the first support at 0.9165.



Source link

Share30Tweet19Share

souhaib

Recommended For You

‘momentum is continuing into 2022’

by souhaib
February 7, 2022
0
‘momentum is continuing into 2022’

Shares of Chegg Inc (NYSE: CHGG) are up 10% in extended trading on Monday after the student services company said it performed better-than-expected in Q4, despite COVID-19 uncertainty....

Read more

Astra Space stock closed down 20% on Monday: here’s why

by souhaib
February 7, 2022
0
Astra Space stock closed down 20% on Monday: here’s why

Read more

Ripple, Dogecoin, Litecoin price forecast for February 2022

by souhaib
February 7, 2022
0
Ripple, Dogecoin, Litecoin price forecast for February 2022

The cryptocurrency market is advancing this Monday, and this situation also supports the price of Ripple XRP/USD, Dogecoin DOGE/USD, and Litecoin LTC/USD. Bitcoin is trading above the $44,000...

Read more

Analyst: ‘Apple would be forced into it if Amazon goes after Peloton’

by souhaib
February 7, 2022
0
Analyst: ‘Apple would be forced into it if Amazon goes after Peloton’

Read more

Should I buy Uber shares in February 2022?

by souhaib
February 7, 2022
0
Should I buy Uber shares in February 2022?

Uber Technologies, Inc. (NYSE: UBER) will announce fourth-quarter earnings results this Wednesday, February 09, after the market closes. Uber shares have weakened more than 10% since the beginning...

Read more
No Result
View All Result

Recent Posts

  • Exploring the Benefits of GMO-Free, Chemical-Free Organic Formulas  
  • Boosting Your Travel Insurance
  • 8 Common AI Tools for Implementing Test Automation
  • Lamar Odom looks unscathed as he is seen for the first time after crashing his Mercedes into two parked cars
  • DeSantis’s Relentless Retaliation Efforts To Destroy Disney Cuts Road Maintenance, Ends Minority Programs And Floats Building A State Prison Near Theme Parks

Browse by Category

  • Australia
  • Automotive
  • Business
  • Celebrity
  • Cryptocurrency
  • Deals
  • Economie
  • Education
  • Entertainment
  • Euro
  • Forex
  • Gaming
  • Health
  • Life Style
  • NBA
  • News
  • Politics
  • Reviews
  • Sports
  • Switzerland
  • Trending
  • U.S.
  • Uncategorized

Categories

  • Australia
  • Automotive
  • Business
  • Celebrity
  • Cryptocurrency
  • Deals
  • Economie
  • Education
  • Entertainment
  • Euro
  • Forex
  • Gaming
  • Health
  • Life Style
  • NBA
  • News
  • Politics
  • Reviews
  • Sports
  • Switzerland
  • Trending
  • U.S.
  • Uncategorized

Pages

  • Contact US
  • Newsletter
  • Privacy Policy
  • Terms & Conditions

© 2021 - TrendsWide

No Result
View All Result
  • Home
  • Contact US
  • Privacy Policy
  • Trending
  • U.S.
  • Economie
  • Deals
  • Reviews
  • Cryptocurrency
  • Health
  • Life Style
  • NBA

© 2021 - TrendsWide