Swiss Franc Dips in Muted Trade, Bitcoin Eyes Uptrend Resumption
| Action Insight Daily Report 3-25-24 |
Swiss Franc Dips in Muted Trade, Bitcoin Eyes Uptrend Resumption |
Swiss Franc traded broadly lower in Asian session today, amidst a backdrop of general market inactivity with all other major pairs and crosses staying inside Monday's range. Still, it remains to be seen whether the Franc's sell-off could extend beyond last week's lows, a downturn initiated by SNB's unexpected rate cut. Meanwhile, Euro and Sterling appears to be benefitting slightly from buying against Swiss Franc. But Aussie is slightly stronger Australian despite weak consumer sentiment data. These contrast the softer performance of Dollar and Yen alongside Franc. As European session presents limited data, with German Gfk consumer sentiment being an exception, market participants are shifting their focus towards the US, where upcoming durable goods orders and consumer confidence data may inject some much-needed volatility into the markets... |
EUR/CHF Daily Outlook Daily Pivots: (S1) 0.9710; (P) 0.9729; (R1) 0.9767; More.. EUR/CHF is staying below 0.9786 temporary top despite today's recovery. Intraday bias remains neutral and more consolidations could be seen. but downside of retreat should be contained by 0.9630 resistance turned support to bring rebound. On the upside, above 0.9786 will resume the rally from 0.9252 towards 1.0095 resistance next. | |
| GMT | Ccy | Events | Actual | Forecast | Previous | Revised |
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| 23:30 | AUD | Westpac Consumer Confidence Mar | -1.80% | 6.20% | | 23:50 | JPY | Corporate Service Price Index Y/Y Feb | 2.10% | 2.00% | 2.10% | | 07:00 | EUR | Germany Gfk Consumer Confidence Apr | -27.8 | -29 | | 12:30 | USD | Durable Goods Orders Feb | 1.30% | -6.20% | | 12:30 | USD | Durable Goods Orders ex-Trans Feb | 0.40% | -0.40% | | 12:30 | USD | Durable Goods Orders ex Defense Feb | 1.30% | -7.40% | | 13:00 | USD | S&P/CS Composite-20 HPI Y/Y Jan | 6.20% | 6.10% | | 13:00 | USD | Housing Price Index M/M Jan | 0.20% | 0.10% | | 14:00 | USD | Consumer Confidence Mar | 107.2 | 106.7 |
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