- The US dollar breaks below 0.9100 to test two-week lows at 0.9075.
- The Swiss franc appreciates amid a sourer market sentiment.
- The market is awaiting the release of FOMC’s minutes.
The US dollar has pushed lower against the Swiss franc on Wednesday’s North American trading session, with the pair breaking below 0.9100 to test the bottom of the last two weeks range, at 0.9075.
The swissie picks up as risk appetite vanishes
The safe-haven Swiss franc is regaining lost ground on Wednesday as the risk appetite of the previous sessions vanished. Market enthusiasm about the progress on COVID vaccines and Joe Biden’s nomination of Janet Yellen as the next Treasury secretary has been offset by not so positive macroeconomic data.
US Weekly Jobless claims increased to 778,000 in the week of November 20, well above the 730.000 claims anticipated by the market. These figures mark the second consecutive weekly increase on fillings for unemployment benefits for the first time since July, showing that the pandemic is starting to strangle the US labour market.
The sourer market sentiment, probably also due to closing positions ahead of the Thanksgiving break, has reflected on the equity markets. The major European indexes have been mixed, while in Wall Street, the S&P 500 index trades 0.21% with the Nasdaq 0.3% up and the Dow Jones dropping 0.24%.
At the moment of writing, the market is awaiting the release of the FOMC last meeting’s minutes, eager to find any hint about the possibility of further monetary easing action in December to soften the economic impact of the surging coronavirus infections
Technical levels to watch
Share
