USDCHF Technical Analysis – The SNB decision fails to weaken the CHF ...Middle East

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Fundamental OverviewThe US Dollar came under renewed pressure recently following the surprisingly weak US consumer confidence report on Tuesday. The labour market data in the report softened a lot and it generally leads the unemployment rate. The market responded by raising the probabilities for the Fed to cut by 50 bps in November to roughly 60%. The question now is whether this is just about the low hiring rate or something worse. We will have to wait for the NFP report next Friday. The focus is now on the economic data. If we start to see an improvement, then Treasury yields will likely rise and drive USDCHF higher. Conversely, if the data weakens significantly, the market will start to w

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USDCHF Technical Analysis – The SNB decision fails to weaken the CHF ...Middle East

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