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PT Solid Gold Berjangka | USD/CHF Rebounds From Three-Week Low Near 0.9050 on US Dollar Recovery

07:31 10 October in Commodity, PT SGB, SOLID GOLD BERJANGKA | SOLID GROUP by admin_sgb_tcc
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The provided text discusses the USD/CHF currency pair’s recent movements, factors influencing its value, and the broader geopolitical and economic context. Here’s a summary and breakdown of the information:

  1. USD/CHF Performance and Context:
    • USD/CHF has been experiencing a losing streak for the fifth consecutive day, trading lower around 0.9070 during the Asian session on a specific Tuesday.
    • Despite the losing streak, the pair rebounds from a three-week low as the US Dollar (USD) attempts to halt its decline.
  2. Factors Influencing USD/CHF Performance:
    • The Palestine-Israel military conflict is contributing to downward pressure on USD/CHF. The Swiss Franc (CHF) is gaining buying support due to its safe-haven status amid the conflict.
    • The US Dollar Index (DXY) is trading higher, but the USD’s strength is eroded by several factors:
      • The robust US Nonfarm Payrolls data didn’t lead to USD appreciation.
      • Decline in US Treasury yields, with the 10-year US Treasury bond yield at 4.66%.
      • Remarks by Federal Reserve (Fed) officials suggesting a cautious approach to rate hikes, which has impacted US bond yields and the Greenback’s strength.
  3. Upcoming Events and Economic Indicators:
    • The FOMC meeting minutes scheduled for release on Wednesday are expected to influence expectations regarding the Federal Reserve’s next policy move, potentially affecting demand for the Greenback.
    • While there’s no major data on the Swiss calendar, important economic indicators in the United States will be closely watched:
      • US Core Producer Price Index (PPI) on Wednesday.
      • Consumer Price Index (CPI) on Thursday, which are crucial for evaluating inflationary trends and economic conditions in the United States.

The information provides a snapshot of the current economic and geopolitical factors influencing the USD/CHF pair and outlines upcoming events that could impact the currency pair’s performance.

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