US Dollar Index fails to build on Wednesday’s recovery gains. Major European equity indexes suffer heavy losses on flight to safety. Coming up: Weekly Jobless Claims and Factory Orders data from US. The USD/CHF came under renewed bearish pressure on Thursday and started to push lower toward the critical 0.9500 hande. Pressured by the broad-based USD weakness and the dismal market mood, the pair touched a daily low of 0.9523 and was last seen trading at 0.9532, down 0.37% on the day. The relief rally witnessed in global equity indexes on Wednesday following the Fed’s emergency rate cut seems to have already faded away with investors shifting their focus to developments surrounding the coronavirus outbreak and its impact on the global economy. As of writing, European stock indexes were down more than 1% and the 10-year US Treasury bond yield was erasing 8.3% on its way to yet another all-time low. Moreover, Wall Street’s main indexes look to open the day deep in the negative territory to confirm the intense flight-to-safety. Will Fed cut rates again in March? Despite the Fed’s 50 basis points rate cut on Tuesday, the CME Group FedWatch Tool shows that markets are already pricing a 63.6% possibility of another 25 basis points rate cut on March 18th to weigh on the greenback. Ahead of the weekly Jobless Claims, fourth-quarter Unit Labor Costs and January Factory Orders data, the US Dollar Index is testing the 97 handle to keep the bearish pressure on the pair intact. Technical levels to watch for FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Canada: Two additional 25bps cuts expected – TDS FX Street 3 years US Dollar Index fails to build on Wednesday's recovery gains. Major European equity indexes suffer heavy losses on flight to safety. Coming up: Weekly Jobless Claims and Factory Orders data from US. The USD/CHF came under renewed bearish pressure on Thursday and started to push lower toward the critical 0.9500 hande. Pressured by the broad-based USD weakness and the dismal market mood, the pair touched a daily low of 0.9523 and was last seen trading at 0.9532, down 0.37% on the day. The relief rally witnessed in global equity indexes on Wednesday following the Fed's emergency rate cut seems to… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.