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  • USD/CHF is trading in a tight range on Friday.
  • US Dollar Index is clinging to small daily gains near 93.80.
  • Nonfarm Payrolls in the US increased by 661,000 in September.

The USD/CHF pair gained traction during the European trading hours on Friday and rose above 0.9200. However, the pair struggled to make a decisive move in either direction after key macroeconomic data releases from the US and was last seen gaining 0.2% on the day at 0.9202. On a weekly basis, the pair is losing around 80 pips.

DXY stays below 94.00 after US NFP data

The monthly data published by the US Bureau of Labor Statistics showed on Friday that Nonfarm Payrolls in September rose by 661,000. This reading fell short of the market expectation of 850,000. On a positive note, however, the Unemployment Rate dropped to 7.9% from 8.4% and came in better than analysts’ estimate of 8.2%. 

The US Dollar Index (DXY), which tested 94.00 earlier in the day, showed no immediate reaction to the mixed jobs report and is currently up modestly on the day at 93.80.

Meanwhile, Wall Street’s main indexes trade in the negative territory as markets remain risk-averse while investors are waiting for fresh headlines regarding US President Donald Trump’s condition after testing positive for the coronavirus.

Although US Treasury Secretary Steven Mnuchin sounded relatively optimistic about possible reaching a deal on additional COVID relief aid, the market mood remains sour into the weekend and helps the CHF stay resilient against its rivals.

Technical levels to watch for