- USD / CHF falls back towards the 0.9000 level ahead of US data.
- The US Dollar DXY Index continues to hold above 90.00 on Thursday.
- The major Wall Street indices appear to start the day little changed.
After spending the first half of the day around 0.9050, USD / CHF has lost its traction and has fallen close to the 0.9000 level just prior to the release of the US data.
DXY Index tests the 90.00 level ahead of US data.
The USD market valuation continues to drive the USD / CHF movements. The US Dollar DXY Index snapped a four-day losing streak and closed in positive territory on Wednesday. driven by the relatively upbeat tone seen in the minutes of the April FOMC meeting. In addition, the sharp rally in the 10-year US Treasury yield helped the dollar outperform its rivals. However, the DXY index appears to have entered a consolidation phase on Thursday, shedding 0.2% on the day at 90.02.
The post showed that some lawmakers wanted to start talking about asset purchase adjustments in upcoming meetings if the economy continued to improve towards the Fed’s goals.
Later in the session, the US Department of Labor will release weekly data on initial jobless claims. The Federal Reserve Bank of Philadelphia will also release its manufacturing survey for May.
Meanwhile, Nasdaq futures are flat on the day and S&P futures are posting modest losses, suggesting that it is US stocks likely to start the day near Wednesday’s closing levels.
USD / CHF technical levels
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