USDCHF on Thursday dropped -0.89% to 0.9367. What you need to know. What goes around.

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Thursday
Open High Low Close
0.94560 0.94605 0.93609 0.93670
Performance after Thursday
Period Pct Chg Momentum
Thursday -0.89% -84.4 Pips
Week to-date -0.85% -80.7 Pips
November -5.60% -561.2 Pips

Upcoming key events (London Time)

Fri 01:30 PM USD Nonfarm Payrolls

What happened lately

📆 ☢️ 🇺🇸 USD ISM Manufacturing PMI in November below forecast and dropped to 49 points compared to previous figure 50.2 points in October. Source
📆 🇺🇸 USD S&P Global Manufacturing PMI in November exceed forecast and rose to 47.7 points compared to previous figure 47.6 points in October. Source
📆 🇺🇸 USD Core Personal Consumption Expenditures – Price Index (YoY) in October dropped to 5% compared to previous figure 5.2, revised from 5.1% in September. Source
📆 USD In the week ending 26 November, the Initial Jobless Claims dropped to 225K compared to previous figure 241K (revised from 240K).. Source
📆 🇨🇭 CHF Real Retail Sales (YoY) in October below forecast and dropped to -2.5% compared to previous figure 2.6, revised from 3.2% in September. Source
📆 🇺🇸 USD Pending Home Sales (MoM) in October below forecast and improved to -4.6% compared to previous figure -8.7, revised from -10.2% in September. Source
📆 🇺🇸 USD Chicago Purchasing Managers’ Index in November below forecast and dropped to 37.2 points compared to previous figure 45.2 points in October. Source
📆 ☢️ 🇺🇸 USD Gross Domestic Product Annualized in Q3 preliminary estimate exceed forecast and rose to 2.9% compared to previous figure 2.6% in Q2. Source
📆 🇺🇸 USD Core Personal Consumption Expenditures (QoQ) in Q3 preliminary estimate exceed forecast and rose to 4.6% compared to previous figure 4.5% in Q2. Source
📆 ☢️ 🇺🇸 USD ADP Employment Change in November below forecast and dropped to 127K compared to previous figure 239K in October. Source
📆 🇨🇭 CHF ZEW Survey – Expectations in November exceed forecast and dropped to -57.5 points compared to previous figure -53.1 points in October. Source
📆 🇨🇭 CHF KOF Leading Indicator in November below forecast and dropped to 89.5 points compared to previous figure 90.9, revised from 90.9 points in October. Source
📆 🇺🇸 USD Housing Price Index (MoM) in September exceed forecast and rose to 0.1% compared to previous figure -0.7% in August. Source
📆 🇺🇸 USD S&P/Case-Shiller Home Price Indices (YoY) in September below forecast and dropped to 10.4% compared to previous figure 13.1% in August. Source


What can we expect from USDCHF today?

USDCHF on Thursday dropped -0.89% to 0.9367. Price is below 9-Day EMA while Stochastic is falling.

Updated daily direction for USDCHF looks bearish as the pair posted lower in Thursday trading session.

Looking ahead for the day, immediate support level is at 0.93318 (S1) with break below could see further selling pressure towards 0.92965 (S2). To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 0.9460 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. USDCHF need to break on either side to indicate a short-term bias. A close below 0.9361 would indicate selling pressure.

For the week to-date, take note that USDCHF is bearish as the pair posted lower by -0.85%.

Key levels to watch out:

R3 0.95310
R2 0.94957
R1 0.94314
Daily Pivot 0.93961
S1 0.93318
S2 0.92965
S3 0.92322

You might also be interested in:

October job openings edge down; hires and separations change little Source: Bureau of Labor Statistics Publications
Advance U.S. International Trade in Goods Source: Census Bureau
Advance Retail Inventories Source: Census Bureau
Advance Wholesale Inventories Source: Census Bureau
Swiss retail trade turnover remains unchanged in in October 2022 Source: Federal Statistical Office
Consumer prices remained stable in November 2022 Source: Federal Statistical Office
Gross Domestic Product, (Second Estimate) and Corporate Profits (Preliminary), 3rd Quarter 2022 Source: Bureau of Economic Analysis
Gross domestic product in the third quarter of 2022: growth underpinned by domestic economy Source: State Secretariat for Economic Affairs
Minutes of the Board’s discount rate meetings on October 3 through November 2, 2022 Source: Federal Reserve
Advance Retail Inventories Source: Census Bureau
Steady employment growth continued in Switzerland in 3rd quarter 2022 Source: Federal Statistical Office

Last updated: 01:58 am UTC, 02-Dec 2022

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