The USD/CHF pair trades with a mild positive bias for the seventh successive day on Wednesday and is currently placed just below its highest level in over a month touched the previous day.
USD/CHF stands tall near its highest level in over a month, albeit lacks bullish conviction. The SNB’s position as a frontrunner in the global policy easing cycle undermines the CHF. Traders await the release of US economic data and
meeting minutes, due later during the US session. Apart from this, traders will take cues from the US economic docket – featuring the ADP report on private-sector employment and the ISM Services PMI. The attention will then shift to the closely-watched US monthly jobs data, popularly known as the Nonfarm Payrolls report on Friday. This will play a key role in influencing the near-term US Dollar price dynamics and help in determining the next leg of a directional move for the USD/CHF pair.
stands for The Federal Open Market Committee that organizes 8 meetings in a year and reviews economic and financial conditions, determines the appropriate stance of monetary policy and assesses the risks to its long-run goals of price stability and sustainable economic growth.
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