Categories: Markets

USD / CHF jumps to multi-day highs near 0.8850

  • USD / CHF is recovering strongly from 2015 lows and has the best day in months.
  • The dollar advanced on all fronts Thursday, recovering recently lost ground.

He USD / CHF extended the bounce from 0.8756, Wednesday’s low and lowest level since 2015, and rose to 0.8844, the maximum since January 4. The price remains above 0.8830, with the bullish tone intact supported by the general strength of the dollar.

He The dollar’s advance is the main factor behind the USD / CHF rally. The dollar index (DXY) rises 0.35% and operates at 89.85, advancing from a two-year low. It’s the DXY’s best performance in weeks and I could anticipate some kind of floor. The rise in Treasury yields has been a key factor in the strength of the dollar.

The chaos in Washington on Wednesday did not affect markets significantly. Major indices remain near record highs. Congress confirmed the triumph of Biden, who will begin his term on January 20. The market also took positively the outcome of the elections in Georgia, which imply that the Senate now has a majority of the Democratic party.

Today I know will publish several relevant economic reports in the US. which include requests for unemployment benefits, the ISM for services and the foreign trade report. Friday will be the turn of the employment report that gained attention after Wednesday’s negative numbers from the ADP.

Technical levels