(VIANEWS) - The USD/CHF pair gains momentum during the early European trading hours on Monday. The recovery of the US Dollar (USD) and higher US Treasury bond yields lend some support to the pair. USD/CHF currently trades near 0.8515, up 0.13% on the day. The better-than-expected US labor data on Friday weakens the Federal Reserve's (Fed) case for rate cuts. Traders are pricing in over 60% odds of rate cuts in the March meeting, according to the CME Fedwatch tool. On Friday, US Nonfarm Payrolls (NFP) grew by 216K jobs in December from 173K in November, exceeding the market consensus of 170K. Meanwhile, the Average Hourly Earnings rose 0.4% MoM, better than the estimated 0.3%, while the annual figure arrived at 4.1 YoY in December versus 4.0% prior, beating the expectation of 3.9%. Investors will take cues from the Swiss Consumer Price Index for December, due later on Monday. The annual CPI is estimated to show an increase of 1.5% YoY from 1.4% in the previous reading, while the monthly CPI is projected to remain steady at -0.2% MoM. The highlight of this week will be the US inflation data on Thursday. Market players project the headline Consumer Price Index (CPI) to show an increase of 3.2% YoY, while the Core CPI is estimated to ease from 4% to 3.8% YoY.
USD/CHF (USDCHF) has been up by 3.15% for the last 21 sessions. At 20:06 EST on Monday, 8 January, USD/CHF (USDCHF) is $0.85.USD/CHF's yearly highs and lows, it's 1.741% up from its 52-week low and 10.222% down from its 52-week high.
Volatility
USD/CHF's last week, last month's, and last quarter's current intraday variation average was a positive 0.26%, a negative 0.14%, and a positive 0.34%, respectively.
USD/CHF's highest amplitude of average volatility was 0.33% (last week), 0.37% (last month), and 0.34% (last quarter), respectively.
Forex Price Classification
According to the stochastic oscillator, a useful indicator of overbought and oversold conditions, USD/CHF's Forex is considered to be oversold (<=20).
Previous days news about USD/CHF (USDCHF)
- Usd/chf holds above 0.8500 ahead of swiss CPI data. According to FXStreet on Monday, 8 January, "The USD/CHF pair gains momentum during the early European trading hours on Monday. "
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