USD/CHF took a downturn in Friday’s session, plummeting to 0.9016, after slightly rising to 0.9070 earlier in the session. Following US inflation figures coming in line with market expectations, markets may be anticipating a less aggressive Fed stance. The potential for rate cuts in September has increased slightly. This change came in despite inflation figures, signaled by the Personal Consumption Expenditures Price Index,holding steady at 2.7% YoY in April which matched market expectations.
USD/CHF technical analysis In the daily analysis, the Relative Strength Index has plunged into negative territory, indicating a momentum shift that favors sellers for the time being. Simultaneously, the Moving Average Convergence Divergence displays red bars, pointing toward a growing bearish momentum. USD/CHF daily chart The USD/CHF seems to have lost some of its sheen from earlier in the week, when it stayed above the 20, 100, and 200-day Simple Moving Averages .
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Source: FXStreetNews - 🏆 14. / 72 Read more »
Source: FXStreetNews - 🏆 14. / 72 Read more »
Source: FXStreetNews - 🏆 14. / 72 Read more »