USDCHF The pair had reduced the second consecutive day. By 12:00 Moscow time the US currency against the franc is quoted at 0.9867, gradually approaching the 0.9850 support. The importance of this level due to the fact that in spite of repeated attempts to push the pair below the sellers, none of them did not succeed in the last three months.
With regard to the fundamental background of the Swiss economy, the figures continue to be published in line with market expectations: for example, the unemployment rate remained at around 2.3%, as in the previous reporting period. The increased demand for the Swiss franc at this stage is associated with its protective properties as a safe haven. In the market there is still a possibility that on December 15, the United States will strengthen tariff pressure on China by introducing 15% duties on Chinese imports worth $ 160 billion. The probability of the decision confirmed on the eve of the chief White House advisor Larry Kudlou.
Market participants fear that the increase in trade tensions between the two countries will cast doubt on the ability of the United States and China to overcome the protracted trade dispute and greatly worsen the prospects for global economic growth. Significant impact on the couple can also have the results of the two-day meeting of the US Federal Reserve, which will be announced tomorrow evening. Despite the fact that rates are reduced on the basis of the last three meetings, there is a likelihood that the Fed's policy will remain "soft" and more. If confirmed this at a press conference the chairman of the Fed Jerome Powell, the US currency will continue to weaken. In this scenario, the pair USDCHF target the movement in the area of 0.97.
USDCHF SellLimit 0,9880 TP 0,97 SL 0,9930
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