USD/CHF holds over 0.9900 as SNB’s Jordan, US elections loom.
To renew the intraday high and halt the two-day slump, USDCHF takes up bids. Before the important data/events, risk aversion and slow markets support the USDCHF recovery. The leading indicators to keep an eye on for obvious directions are the US CPI, the results of the midterm elections, and Jordan’s remarks for SNB.
The USDCHF shows modest advances at 0.9915 and breaks a two-day slump at its lowest point in a week. In doing so, the Swiss Franc (CHF) pair captures the market’s risk-off attitude and cautious attitude before Governor Thomas Jordan’s address at the Swiss National Bank (SNB).
The market’s nervousness about the upcoming US midterm elections may have contributed to the recent mood flip, along with a rise in China’s daily coronavirus count, which is the most since May 1.
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