USD/CHF Stays Strong Near 0.8000 Before US Inflation Data
The USD/CHF currency pair is moving steadily around 0.8000 as traders wait for fresh U.S. inflation numbers. The U.S. dollar is getting support from strong economic reports.
The revised Q2 GDP showed the U.S. economy grew by 3.8%, better than the earlier estimate of 3.3%. Also, jobless claims dropped to 218,000, lower than the forecast of 235,000, showing the job market is still strong.
In Switzerland, the Swiss National Bank (SNB) kept its interest rate at 0%. The bank is worried about low inflation and trade pressure from U.S. tariffs. It also suggested that rates could be cut again if inflation continues to fall.
The big focus now is the U.S. Personal Consumption Expenditures (PCE) inflation data for August, which will be released at 12:30 GMT. The core PCE, which is the Federal Reserve’s main inflation measure, is expected to rise by 0.2% month-on-month and 2.9% year-on-year.
Impact:
If U.S. inflation data is stronger than expected, USD/CHF could move higher. If weaker, the pair might fall as traders adjust their outlook.