OctaFX | OctaFX Forex Broker
Open trading account

Forex: USD/CHF falls ahead of Swiss PPI

The USD/CHF is weakening in early European morning, erasing its few gains (to as high as 0.9182) and falling down to 0.9157 low, for now. The market is having trouble getting past the 0.9200/15 zone, having erased yesterday what Monday movements conquered.

The German Wholesale Price Index rose 0.3% (MoM) in January, but eased from +3.2% to +2.3% (YoY) while consensus was for +2.2%. The Swiss PPI will come soon, and a monthly +0.1% rise is expected for January data.

UBS analysts are bearish on the USD/CHF: “As long as resistance at 0.9249 holds, there is scope for rejection and resumption of downside”, wrote analyst Gareth Berry, pointing to support at 0.9154 ahead of 0.9002.

Forex: USD/JPY retracing Asian losses

From close to 93.50, the USD/JPY weakened during the Asian shift, also hurting Japan stocks' movement, reaching as low as 92.83. The market eventually bounced back to the 93.00 mark and is currently retracing its losses, already at 93.34 (-0.16%).
Read more Previous

Forex Flash: Tracing the origin of the G7 mystery voice – UBS

The USD/JPY traded nervously overnight as investors continue to speculate over the identity of the rogue G7 official who yesterday put a different spin on what seemed like a benign communiqué. The mystery voice indicated that the market had misinterpreted the text, and that the actual intent had been to signal concern about "excess moves in the yen".
Read more Next
Start livechat