Swiss Franc Showing Weakness Against Majors

RTTNews | 947 days ago
Swiss Franc Showing Weakness Against Majors

(RTTNews) - The Swiss franc dropped against its major counterparts in the European session on Tuesday amid safe-haven status, as comments from European Central Bank chief economist Philip Lane soothed concerns about inflation and German factory orders rose more than expected in October.

Although more rate hikes will be required to tame price pressures, headline inflation is nearing a peak, Lane said in an interview with Italian newspaper published today.

"It's probably too early to make that judgement" whether inflation has already peaked, "but I would be reasonably confident in saying that it is likely we are close to peak inflation," Lane added.

Data from Destatis showed that German factory orders posted a monthly growth of 0.8 percent in October, in contrast to the revised 2.9 percent decrease in September. Orders were expected to gain marginally by 0.1 percent.

Elsewhere, media reports suggested that China's capital Beijing is likely to scale back more COVID restrictions under its strict zero-COVID strategy.

The franc was down against the greenback, at a 5-day low of 0.9456. On the downside, 0.97 is possibly seen as its next support level.

Against the pound, the franc reached as low as 1.1524. The franc is seen finding support around the 1.22 level.

The franc eased to 144.73 against the yen, from a 5-day high of 145.51 logged at 2:20 am ET. The franc is poised to challenge support around the 119.00 region.

The franc edged down to 0.9909 against the euro, off its prior high of 0.9865. If the franc falls further, it may challenge support around the 1.05 level.

Looking ahead, U.S. and Canadian trade data for October and Canada Ivey PMI for November will be out in the New York session.

read more
Commodity Currencies Rise Amid Renewed Tariff Concerns; USD Slide

Commodity Currencies Rise Amid Renewed Tariff Concerns; USD Slide

The commodity currencies such as Australia, the New Zealand and the Canadian dollars strengthened against their major counterparts in the early European session on Thursday, as traders are optimistic about an end to the tariff uncertainty after U.S. President Donald Trump made it clear that he will not extend the August 1 deadline for trade deals, though he gets aggressive with tariff imposition. They are also optimistic about a potential trade deal between the U.S. and the European Union.
RTTNews | 3h 37min ago
Yen Falls As Traders Speculate BoJ Rate Hike Pause

Yen Falls As Traders Speculate BoJ Rate Hike Pause

The Japanese yen weakened against other major currencies in the late Asian session on Wednesday, as traders reduced their bets on an immediate interest rate hike by the Bank of Japan (BoJ) due to worries about the possible economic effects of US President Donald Trump's trade tariffs.
RTTNews | 1 day ago
Antipodean Currencies Rise Amid Risk-on Mood; Yen Slides

Antipodean Currencies Rise Amid Risk-on Mood; Yen Slides

The antipodean currencies such as the Australia and the New Zealand dollars strengthened against their major currencies in the Asian session on Tuesday, as Asian markets traded higher following Trump's softened stance on tariff hikes.
RTTNews | 2 days ago
Yen Slides Against Majors

Yen Slides Against Majors

The Japanese yen weakened against other major currencies in the Asian session on Tuesday.
RTTNews | 2 days ago