USDCHF Technical Analysis – The NFP report was better than feared ...Middle East

Fundamental OverviewThe USDCHF pair eventually dropped to a new low as a series of soft US data pushed Treasury yields lower giving the CHF a boost. The NFP report on Friday wasn’t bad, on the contrary, the data under the hood was better than the prior month. Nevertheless, the trend in the labour market continues to remain skewed to the downside. The probabilities for the Fed to cut by 50 bps at the upcoming meeting dropped to 27% following the NFP report with a total of 110 bps of easing expected by year-end. For the SNB, the market sees a 73% probability of a 25 bps cut at the upcoming meeting with a total of 52 bps of easing by year-end.Right now, it looks like the Fed is going to cut rat

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