- USD/CHF jumps to 0.9000 even though soft US core PCE inflation for May dampens US Dollar’s appeal.
- Fed officials want to see inflation declining for months before considering rate cuts.
- Investors await the Swiss CPI to get more cues about SNB’s interest rate outlook.
The USD/CHF pair moves higher to near the psychological resistance of 0.9000 in Monday’s European session. The Swiss Franc asset rises even though the US Dollar (USD) has faced a sharp sell-off after the United States (US) core Personal Consumption Expenditure Price Index (PCE) data for May fuelled expectations of early rate cuts by the Federal Reserve (Fed).
The US PCE report showed on Friday that price pressures declined expectedly. US annual core PCE price index, a Fed’s preferred inflation measure decelerated to 2.6% from the prior release of 2.8%.
The CME FedWatch tool shows that there will be two rate cuts this year and the policy-normalization process will begin from the September meeting.
Contrary to market expectations, Fed officials see only one rate cut this year and they want to see inflation declining for months before cutting interest rates.
- USD/CHF jumps to 0.9000 even though soft US core PCE inflation for May dampens US Dollar’s appeal.
- Fed officials want to see inflation declining for months before considering rate cuts.
- Investors await the Swiss CPI to get more cues about SNB’s interest rate outlook.
The USD/CHF pair moves higher to near the psychological resistance of 0.9000 in Monday’s European session. The Swiss Franc asset rises even though the US Dollar (USD) has faced a sharp sell-off after the United States (US) core Personal Consumption Expenditure Price Index (PCE) data for May fuelled expectations of early rate cuts by the Federal Reserve (Fed).
The US PCE report showed on Friday that price pressures declined expectedly. US annual core PCE price index, a Fed’s preferred inflation measure decelerated to 2.6% from the prior release of 2.8%.
The CME FedWatch tool shows that there will be two rate cuts this year and the policy-normalization process will begin from the September meeting.
Contrary to market expectations, Fed officials see only one rate cut this year and they want to see inflation declining for months before cutting interest rates.
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