USD/CHF extends recovery above 0.9550 as DXY eyes a rebound, US ISM PMI in focus By Sagar_Dua24 USDCHF Inflation Fed RetailSales PMI
index is eyeing a rebound after displaying a significant fall on Thursday.
The DXY witnessed a vertical downside move after attempting to renew its 23-year high at 105.78. The asset is trying to hold itself around 104.70 and may attempt a rebound amid its broader strength. A significant fall in the DXY is backed by an in-line rerelease of the US core Personal Consumption Expenditures Price Index.
It is worth noting that the critical indicator of price levels has been advancing for the past few months and a minor slippage from the prior release of 4.9% indicates that the policy tightening measures have started showing their impact. However, the odds of a consecutive rate hike by 75 basis points are intact as the inflation rate at 8.6% is still more than four times higher than the desired rate of 2%.
In today’s session, investors’ focus will remain on the release of the US ISM PMI. As per the market consensus, theOn the Swiss franc front, the release of the improved Real Retail Sales data has failed to provide any support to the Swiss franc bulls. The economic data released at -1.6%, higher than the prior print of -5.5% but lower than the estimates of 3.8%.
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