USD/CHF remains around 0.8000 after the KOF advance indicator survey

• The USD/CHF maintains its position about 0.7957, the lowest level since September 2011.
• The advanced indicator KOF Swiss fell to 96.1 in June from 98.6 in May.
• The US dollar faces challenges in the midst of increasing probabilities that the Fed starts features of fees in September.

The USD/CHF remains stable after a five -day loss streak, quoting around 0.7990 during the European hours on Monday. The torque is maintained around 0.7957, the lowest level since September 2011, registered on Friday. The Swiss Franco (CHF) moves little against the US dollar (USD) after the KOF advanced indicator was published in Switzerland, which fell to 96.1 in June from 98.6 in May. The readings were below the market forecasts of 99.3, marking the lowest reading since October 2023.

Earlier this month, the Swiss National Bank (SNB) cut 0% interest rates in response to the decrease in inflationary pressures and indicated that it could enter negative territory if the downward risks persist. The Swiss Central Bank warned, in its second quarter bulletin, that the risks of global trade could weigh on growth, predicting an expansion of GDP between 1% and 1.5% this year.

The USD/ChF pair faced challenges while the US dollar fights in the middle of the growing expectations that the Federal Reserve (FED) cut interest rates at the September meeting. The president of the Bank of the Federal Reserve of Minneapolis, Neel Kashkari, said Friday that he remained in his opinion that inflation in cooling would allow the Fed to cut its policy rate twice that year, starting in September.

The data showed on Friday that personal spending in the US fell unexpectedly in May, the second decrease of this year. Meanwhile, personal income in the US fell 0.4% in May, the greatest decrease since September 2021. Operators will probably observe US labor market data scheduled to be published later this week to obtain more impulse on the Federal Reserve Policy Perspective (FED).