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- USD/CHF holds steady around 0.8290 in Friday’s Asian session.
- Easing trade tensions might weaken safe-haven demand.
- The US April NFP report will be in the spotlight later on Friday.
The USD/CHF pair trades on a flat note around 0.8290 during the Asian trading hours on Friday. Traders prefer to wait on the sidelines ahead of the release of the highly anticipated US Nonfarm Payrolls (NFP) report, which is due later on Friday.
US President Donald Trump announced potential trade deals with India, South Korea, and Japan, seeking to convert his tariff policy into trade agreements. US officials, including Treasury Secretary Scott Bessent and White House economic adviser Kevin Hassett, also expressed hope for progress in easing trade tensions.
Early Friday, China said it is considering the possibility of trade talks with the United States, the first sign since US President Donald Trump raised tariffs in April. Optimism about de-escalation in the global trade conflict might lift the US Dollar (USD) against the Swiss Franc (CHF).
However, uncertainty about the effect of tariffs on inflation and the economy raises the fear of an economic slowdown in the US, which might cap the upside for the Greenback. The US economy contracted at an annualised rate of 0.3% in the first quarter (Q1) of 2025, according to the US Commerce Department on Wednesday. This figure came in weaker than the estimation of 0.4%. Traders will closely watch the NFP report on Friday for fresh impetus, which is expected to show 130K job additions in April.
Meanwhile, the persistent geopolitical tensions could boost the safe-haven flows, benefiting the CHF. US Secretary of State Marco Rubio said on Friday that Ukraine and Russia positions are still a little far apart, adding that it’s going to take a breakthrough soon in Ukraine to make this possible.
