USD/CHF steadies at multi-month low below 0.9100 ahead of US PMIs, employment data – by anilpanchal7 USDCHF RiskAversion Fed PMI Employment
evels since August 2021. In doing so, the Swiss Franc pair traces a corrective bounce in the US Treasury bond yields ahead of the key US employment and PMI data.
While portraying the bond market moves, the US 10-year and two-year Treasury bond yields take a breather around 3.35% and 3.86% respectively, after falling in the last five and three consecutive days. It’s worth noting that downbeat US employment clues joined previously easing hawkish Fed bias to weigh on the US bond coupons.
It should be noted that the downbeat US JOLTS Job Openings and Factory Orders for February weigh on the US Dollar. On the same line could be Russia’s likes for the Chinese Yuan and the China-Brazil pact to ignore the US Dollar as an intermediate currency.of Cleveland leader Loretta Mester join the cautious mood before the US ISM Services PMI and ADP Employment Change to allow the yields and the US Dollar to stabilize, especially amid off in China.
Against this backdrop, S&P 500 Futures struggle for clear directions near 4,130 while yields and the US Dollar lick their wounds. Moving on, USD/CHF may witness further consolidation ahead of the aforementioned US data. However, the likely downbeat outcome of the US statistics may drown the pair prices afterward.A clear downside break of the key ascending support line from early February, now immediate resistance near 0.9080, joins bearish MACD signals to directAdditional important levels
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