Analysts report a steady rise in the EUR/CHF currency pair despite less than expected Swiss inflation figures. The Swiss National Bank (SNB) eyes a rate cut following the unsatisfactory Consumer Price Index (CPI) for February.
Lower limit triggers, chiefly 0.9500/0.9470 the previous week, are crucial for short-term support. On the contrary, short-term resistance is spotted above at 0.9650/0.9670. Market participants are keen on potential fallout from the SNB’s probable rate cut.
However, a swift recovery back above 0.9750 may placate the overwhelming bearish tendencies. Also, changes in economic indicators and other macroeconomic sentiments can substantially impact the market. As a precaution, prudent trading decisions and careful risk management are advisable.
The soon-to-be-released Swiss and Euro Zone growth data will likely sway the pair’s direction. Former SNB president, Jordan, suggests a positive path for the EUR/CHF pair, provided 0.9610 is surpassed. It might then drive towards prior highs at 0.9680 and 0.9775.
Investing in the open market carries the risk of full or partial loss of investment and emotional distress. The burden of any investment-related losses, liabilities, and costs lie squarely with the investor. It’s of paramount importance for all investors to be in tune with their financial standing and risk acceptance levels.
The thoughts expressed in this article are solely those of the authors, who are not certified investment advisors. The authors explicitly state this piece does not offer any investment advice but intends to provoke thought and dialog on the subject.
Conducting personal research, consulting a certified investment advisor, preparing for potential losses, and not relying on the information presented for financial decisions are all strongly recommended.
Other noteworthy currency pairs include the EUR/USD’s steady positive trend influenced by an uptick in Eurozone Sentix Investor Confidence. The GBP/USD pair is also fairing well amid a weaker US dollar. Similarly, the AUD/USD pair advanced above the 0.7250 mark while the USD/JPY pair and USD/CAD pair navigate through consolidative phases.
In crypto news, a significant altcoin stays above the critical $0.60 mark due to progress in a key legal case. Industry experts anticipate this progress could spur broader recognition and grow this cryptocurrency’s overall value.
The upcoming week holds prime importance for the US, with expected job data and Fed Chair Powell’s testimony. Expected job announcements and a possible shift focus towards improving wage growth and working conditions can potentially affect global economic dynamics.
