USD/CHF consolidates in a narrow range around 0.8760 amid a cautious market mood – by lilyfinancial USDCHF Majors Macroeconomics
On Monday, Moody's downgraded the credit ratings of several small to mid-sized US banks and issued a warning about possible cuts to the ratings of larger institutions. The giant credit rating company stated that the higher interest rates have also elevated the prospect of a recession, putting pressure on the banking industry as well as real estate to adapt to post-pandemic reality.
came in at 1.9% in July, matching expectations. The figure remained unchanged compared to the June reading and marked its lowest level since October 2022. In the absence of the economic data release from Switzerland, the US Consumer Price Index for July and the Produce Price Index will be in the spotlight this week. Also, the development of the US-China relationship remains in focus. Market participants will keep an eye on the data and find trading opportunities around the USD/CHF pair.Information on these pages contains forward-looking statements that involve risks and uncertainties.
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