US Dollar Index stays in the red near 94 ahead of employment numbers. Trade tensions continue to weigh on market sentiment. The USD/CHF pair is trading in a 30-pip range on Friday as investors are waiting for the nonfarm payrolls report from the United States and developments surrounding the trade tension between China and the U.S. As of writing, the pair was trading at 0.9927, down 0.06% on the day. As announced back in June, the United States’ tariffs on Chinese imports went into effect at 04:00 GMT on Friday. Li Keqiang, the current Premier of the State Council of China argued that a trade war would never solve anything and added they would do everything in their power to avoid one. “If any party resorts to increase of tariffs, China would take measures in response to protect China development interests and safeguard multilateral trade regime and rules.” Keqiang further added. How the stock markets in the U.S. start the day will provide a clear view of the overall market sentiment. If we see Wall Street slip in the early trading hours of the NA session, the CHF could find demand as a safe-haven. On the other hand, the monthly nonfarm payrolls report from the U.S. will be the next significant catalyst for the USD. “Market players are expecting the US economy to have added 195K new jobs in June, the unemployment rate is seen at record lows of 3.8%, while as usual, wages are barely expected to show signs of life, up monthly basis 0.3% and by 2.8% YoY,” writes Valeria Bednarik, FXStreet’s Chief Analyst. “Anyway, the report could have a limited influence on currency pairs, particularly if readings are in-line with market’s forecast, with the focus shifting then to risk-sentiment correlated to the trade war.” Technical levels to consider The pair could encounter the first technical resistance at 0.9945 (Jul. 5 high) ahead of 1.0000 (psychological level/parity), and 1.0055 (May 9 low). On the downside, supports align at 0.9920 (50-DMA), 0.9855 (Jun. 25 low), and 0.9790 (Jun. 7 high). 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 Forex Weekly Outlook July 2-6 – Fireworks and not only on July 4th Yohay Elam 4 years US Dollar Index stays in the red near 94 ahead of employment numbers. Trade tensions continue to weigh on market sentiment. The USD/CHF pair is trading in a 30-pip range on Friday as investors are waiting for the nonfarm payrolls report from the United States and developments surrounding the trade tension between China and the U.S. As of writing, the pair was trading at 0.9927, down 0.06% on the day. As announced back in June, the United States' tariffs on Chinese imports went into effect at 04:00 GMT on Friday. Li Keqiang, the current Premier of the State Council of… Top 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.
