Financial markets showed their expectations regarding the US CPI rates for March, published the day before, as the reaction was observed among all participants. The US monthly consumer price index rose to 0.6%, beating previous and forecasts, while the annual rate also rose to 2.6% in similar circumstances.
The US dollar declined for the second day in a row on Wednesday, as the dollar index hit a new monthly low during the American session. All major US equity markets hit new record highs thanks to the weakening dollar.
The EUR/USD pair rose sharply and reached the current resistance level of 1.1964, which has not been observed since March 18. If the market continues to be dominated by buying interest, the next higher level could be the 1.1985 barriers, which were tested twice in March but were not overcome.
The Swiss franc narrowly escaped being ranked the worst of the largest companies in the G10 compared to the dollar in the first quarter and the Japanese yen. While the Swiss franc’s depreciation against the euro was a modest 2.2% during the quarter, the fact that the euro/Swiss franc is getting more comfortable above the 1.10 threshold underscores the central bank’s relative inertia, as reported by CIBC Capital Markets.
Following the Swiss National Bank’s (SNB) monetary policy announcement, Chairman Jordan said “we welcome the slight depreciation of the Swiss franc,” speaking at a post-political press conference.
The monthly risk reversal of the Swiss franc (CHF), a call-to-put indicator, has risen the most since February 9 but also broke a three-day losing streak on Wednesday. This runs counter to the USD/CHF downtrend, which is currently testing early March lows for its eighth day of decline.
Technically, the 50-day moving average near 0.9188 limits further declines in the price, while USD/CHF buyers are less likely to enter until prices cross the mid-March low around 0.9215 on the daily close.
- Broker
- Min Deposit
- Score
- Visit Broker
- Award-winning Cryptocurrency trading platform
- $100 minimum deposit,
- FCA & Cysec regulated
- 20% welcome bonus of upto $10,000
- Minimum deposit $100
- Verify your account before the bonus is credited
- Over 100 different financial products
- Invest from as little as $10
- Same-day withdrawal is possible
- Fund Moneta Markets account with a minimum of $250
- Opt in using the form to claim your 50% deposit bonus
Learn to Trade
Never Miss A Trade Again
Signal Notification
Real-time signal notifications whenever a signal is opened, closes or Updated
Get Alerts
Immediate alerts to your email and mobile phone.
Entry Price Levels
Entry price level for every signal Just choose one of our Top Brokers in the list above to get all this free.
