USD/CHF retreats towards 0.9400 amid mixed sentiment, Swiss Retail Sales, US PMIs eyed – by anilpanchal7 USDCHF RiskAppetite GDP PMI Fed
US Dollar struggles to track upbeat yields amid strong China data, softer statistics at home.USD/CHF renews its intraday low around 0.9410 as bulls take a breather following the strong February performance during early Wednesday. In doing so, the Swiss currency pair fails to justify the market’s mildly offbeat tone amid fears of higher rates and inflation. The reason could be linked to China as recent activity data from the world’s largest industrial player came in impressive for February.
It should be noted that the month-start consolidation and the recently softer US data also seem to favor the USD/CHF bears. On Tuesday, the US Conference Board’s Consumer Confidence dropped for the second consecutive month to 102.9 versus 106.0 prior while US Housing Price Index drops 0.1% in December versus -0.6% market forecasts and -0.1% prior. On the same line, the S&P/Case-Shiller Home Price Indices grew 4.6% YoY during the said month compared to 6.1% market expectations and 6.
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