USD/CHF holds its ground after soft Swiss CPI

The USD/CHF extended its decline despite soft CPI figures from Switzerland. US ADP employment report and ISM Services PMI data for June from the UScame in weaker than expected which pressures down the pair. Due to softening inflation, the SNB might embrace further cuts. In Thursday's session, the USD/CHF pair slightly declined, with markets showing a less enthusiastic attitude towards the USD after weak data outcomes.

Anticipation grows for the US labor market figures, notably the Nonfarm Payrolls for June and Unemployment and wage inflation figures due on Friday. These figures have drawn enhanced scrutiny due to growing concerns among Fed officials about the health of the labor market and may shift the expectations of thetiming of the easing cycle. On the Swiss front, the June Consumer Price Index announced on Thursday showed a decline to 1.3% YoY vs the 1.4% YoY expected. The Core slightly declined to 1.

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