Confirming you are not from the U.S. or the Philippines

By giving this statement, I explicitly declare and confirm that:
  • I am not a U.S. citizen or resident
  • I am not a resident of the Philippines
  • I do not directly or indirectly own more than 10% of shares/voting rights/interest of the U.S. residents and/or do not control U.S. citizens or residents by other means
  • I am not under the direct or indirect ownership of more than 10% of shares/voting rights/interest and/or under the control of U.S. citizen or resident exercised by other means
  • I am not affiliated with U.S. citizens or residents in terms of Section 1504(a) of FATCA
  • I am aware of my liability for making a false declaration.
For the purposes of this statement, all U.S. dependent countries and territories are equalled to the main territory of the USA. I accept full responsibility for the accuracy of this declaration and commit to personally address and resolve any claims or issues that may arise from a breach of this statement.
Cancel Confirm
We are dedicated to your privacy and the security of your personal information. We only collect emails to provide special offers and important information about our products and services. By submitting your email address, you agree to receive such letters from us. If you want to unsubscribe or have any questions or concerns, write to our Customer Support.
Confirm
Trading news
Back
17 Jan 2024

USD/CHF reaches one-month highs near 0.8650 ahead of US Retail Sales

 

  • The US Dollar rallies to fresh one-month highs on dwindling hopes of Fed cuts.
  • Later today, the US Retail Sales and an array of Fed speakers will be observed with attention.
  • USD/CHF recovery might find resistance at the 0.8665 area.

The US Dollar keeps marching higher after having rallied 1.5% over the last five trading days. The pair has reached its highest price in the mid-range of 0.8650 with investors scaling back Feed rate cut expectations, ahead of the release of US Retail Sales figures.

Retail consumption is expected to have increased at a faster 0.4% pace in December, with the mild weather pushing shoppers to the high street. This is likely to confirm that the US economy remains resilient and that the Fed has still some work to do to bring inflation to target.

After the release, the focus will shift to the speeches of Fed policymakers. NY Fed president John Williams and Board member Michelle Bowman, traditional hawks, plus vice-chair Michael Bar, with a more neutral profile, are likely to share their views on the monetary policy outlook.

A wider perspective shows the pair in a corrective recovery after having depreciated nearly 10% in the last quarter of 2023. The pair is approaching the 38.2% Fibonacci retracement of the mentioned decline, at 0.8665 where it might find some sellers. Above here, the next target is 0.8720.

Supports are at 0.8575 previous resistance area and 0.8460.

Technical levels to watch

 

 

Jan 17, 2024

US Dollar likely to stay strong in the months ahead – HSBC

The US Dollar (USD) is likely to remain strong in the months ahead, according to economists at HSBC.
Read more Previous
Jan 17, 2024

US Dollar erases losses as Fed’s Waller backtracks

The US Dollar (USD) roars with the US Dollar Index (DXY) popping above a few important technical levels. The move comes with markets finally realizing that rate cuts will not take place before June for either the US Federal Reserve (Fed), the
Read more Next