USD/CHF stays below 0.8000 before US Consumer Sentiment data
The USD/CHF pair is moving quietly under the important 0.8000 level as traders wait for the US Michigan Consumer Sentiment report. The Swiss Franc is holding steady, while the US Dollar is under pressure because investors are unsure about the Federal Reserve’s next move on interest rates.
Recent data showed Consumer Sentiment in the US dropped to 58.2 in August from 61.7 in July. This fall reflects weaker confidence in the economy, with households expecting slower business activity and staying cautious about inflation. Such worries are making the Dollar less attractive against the safe-haven Swiss Franc.
In Forex trading, the 0.8000 level is acting as a strong barrier. If USD/CHF fails to cross above, the pair could remain weak. On the other hand, if the Consumer Sentiment data surprises with a strong reading, the Dollar might recover and retest 0.8000.
Impact:
USD/CHF might stay weak if sentiment numbers remain low. A better reading could support a short-term rebound, but major gains seem less likely.
