Once again fails to sustain above the parity mark and retreats from 1.0025-30 supply zone. The global flight to safety continues to benefit the CHF and exerted some downward pressure. Holds above 200-day SMA as bulls now eye US ISM non-manufacturing PMI for a fresh impetus. The USD/CHF pair faded a knee-jerk bullish spike to over 2-1/2 month tops and quickly retreated around 40 pips during the early European session on Thursday. The pair continued with its struggle to capitalize on the momentum beyond the parity mark and once again met with some fresh supply near the 1.0025-30 region. The prevailing risk-off mood continued underpinning demand for traditional safe-haven currencies, including the Swiss Franc (CHF) and exerted some fresh downward pressure on the major. Risk-off mood continues to cap gains The global flight to safety was further reinforced by the ongoing downfall in the US Treasury bond yields to the lowest level since September 9. This coupled with concern about slowing economic growth in the United States forced investors to start pricing in another interest rate cut by the Fed in October and kept the US Dollar bulls on the defensive. It is worth recalling that data released on Tuesday showed that the US manufacturing sector activity recorded a sharp contraction in September. This was followed by the ADP report on Wednesday, which showed that the US private-sector employers added modest 135K jobs in the previous month and raised odds of further policy easing by the Fed. Despite the pullback, the pair traded with a mild positive bias and has also managed to hold its neck above the very important 200-day SMA, warranting some caution for bearish traders and positioning for any meaningful depreciating move ahead of Friday’s release of the closely watched US monthly jobs report – popularly known as NFP. In the meantime, Thursday’s US economic docket – highlighting the release of ISM non-manufacturing PMI – will be looked upon for some short-term trading opportunities later during the early North-American session. Technical levels to watch 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 RBNZ seen ‘on hold’ for the rest of the year – UOB FX Street 3 years Once again fails to sustain above the parity mark and retreats from 1.0025-30 supply zone. The global flight to safety continues to benefit the CHF and exerted some downward pressure. Holds above 200-day SMA as bulls now eye US ISM non-manufacturing PMI for a fresh impetus. The USD/CHF pair faded a knee-jerk bullish spike to over 2-1/2 month tops and quickly retreated around 40 pips during the early European session on Thursday. The pair continued with its struggle to capitalize on the momentum beyond the parity mark and once again met with some fresh supply near the 1.0025-30 region.… 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.
