- USD / CHF is consolidating Tuesday’s gains, remaining calm around 0.8900.
- Broad USD weakness limits USD / CHF decline on Wednesday.
- Investors await US data and the SNB Quarterly Bulletin.
He USD/CHF It posted its highest daily close in two weeks at 0.8896 on Tuesday and entered a consolidation phase as investors await the release of US macroeconomic data before the Christmas holidays. At time of writing, the pair was moving sideways near 0.8900.
The focus is on US data.
The broad-based USD strength helped the USD / CHF rally higher earlier in the week. The lack of progress in trade negotiations between the UK and the EU and renewed fears over the coronavirus helped the dollar find demand as a safe haven. However, after gaining 0.7% on Tuesday, the US Dollar Index lost its traction and was last seen losing 0.27% to 90.40.
Modest gains seen in major European stock indices and US stock index futures point to relatively optimistic market sentiment on Wednesday, forcing the USD to remain on the defensive.
In the first US session, data on initial jobless claims, durable goods orders, personal expenses and personal income will be included in the US economic record In addition, the University of Michigan Consumer Sentiment Index will be considered to get a new boost.
On the other hand, the Swiss National Bank (SNB) will publish its quarterly newsletter for the fourth quarter.
Technical levels
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