- The USD/CHF resumes its weekly upward trend after the decision of a Federal Court of the US that blocked Trump’s tariffs.
- Wednesday’s hard FOMC minutes drive the USD and contribute to upward movement.
- The operators now expect the macroeconomic data of the US of Thursday for short -term opportunities.
The USD/ChF pair recovers positive traction after the price movement without direction from the previous day and jumps more than a week, around the area of ​​0.8345-0.8350 during the Asian session on Thursday. In addition, the fundamental background supports the prospects of an extension of a upward trend of several days from levels below 0.8200, or a minimum of almost three weeks reached on Monday.
The feeling of global risk receives a strong impulse after the International Trade Court blocked on Wednesday the reciprocal commercial tariffs proposed by US President Donald Trump. Wall Street futures and actions in Asia rise sharply in reaction to the Court’s decision, which, in turn, is considered to weigh on the Swiss Franco (CHF) of safe refuge. This, together with a strong purchase of the US dollar (USD), turns out to be another factor that acts as a tail wind for the USD/CHF torque.
In fact, the USD (DXY) index, which tracks the value of the dollar against a foreign exchange basket, goes up for the third consecutive day after the news of the tariff block and the hard line minutes of the FOMC published on Wednesday. Federal Reserve officials (FED) agreed to maintain a waiting approach to uncertainty about economic perspectives and commercial policies. This moderates the hopes of more aggressive rate cuts by the Fed and continues to push the up upward.
However, operators are still valuing the possibility that the US Central Bank will make at least two rate cuts of 25 basic points (BPS) by the end of this year. This, in turn, slows the USD bulls when opening aggressive positions and limits the USD/CHF torque. Market participants now expect the US economic agenda, which includes the public GDP publication of the first quarter, the usual weekly applications for unemployment subsidy and the sales data of pending housing, for short -term trading opportunities.
American dollar today
The lower table shows the percentage of US dollar change (USD) compared to the main coins today. US dollar was the strongest currency against the Swiss Franco.
| USD | EUR | GBP | JPY | CAD | Aud | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.39% | 0.25% | 0.63% | 0.10% | 0.12% | 0.53% | 0.68% | |
| EUR | -0.39% | -0.13% | 0.23% | -0.29% | -0.20% | 0.13% | 0.28% | |
| GBP | -0.25% | 0.13% | 0.35% | -0.15% | -0.06% | 0.25% | 0.33% | |
| JPY | -0.63% | -0.23% | -0.35% | -0.53% | -0.52% | -0.15% | -0.04% | |
| CAD | -0.10% | 0.29% | 0.15% | 0.53% | -0.03% | 0.43% | 0.47% | |
| Aud | -0.12% | 0.20% | 0.06% | 0.52% | 0.03% | 0.34% | 0.39% | |
| NZD | -0.53% | -0.13% | -0.25% | 0.15% | -0.43% | -0.34% | 0.05% | |
| CHF | -0.68% | -0.28% | -0.33% | 0.04% | -0.47% | -0.39% | -0.05% |
The heat map shows the percentage changes of the main currencies. The base currency is selected from the left column, while the contribution currency is selected in the upper row. For example, if you choose the US dollar of the left column and move along the horizontal line to the Japanese yen, the percentage change shown in the box will represent the USD (base)/JPY (quotation).
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
