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- USD/CHF gains traction to around 0.8825 in Friday’s early European session.
- The US economy expanded at an annual 2.4% pace in the final three months of 2024.
- The US February PCE inflation report will be the highlight later on Friday.
The USD/CHF pair trades in positive territory near 0.8825 during the early European session on Friday. The Greenback edges higher as traders assess how severe tariffs scheduled to be revealed by US President Donald Trump next week are likely to impact the global economy. The US February Personal Consumption Expenditures (PCE) data will be in the spotlight later on Friday.
Rising optimism that Trump will be flexible in determining tariffs could boost risk sentiment and the US Dollar (USD). Trump stated on Monday that automobile tariffs will be implemented shortly, but that not all of his threatening duties would be levied on April 2 and some nations may get exemptions. However, any signs of escalating trade tensions could underpin the Swiss Franc (CHF), the safe-haven currency, and act as a headwind for the pair.
The third release of the figures from the Bureau of Economic Analysis on Thursday showed that the US economy grew at an annual 2.4% pace in the final three months of 2024. This figure came in slightly better than the previous estimate of fourth-quarter growth.
Traders will take more cues from the US PCE inflation data due on Friday. Cooler inflation would allow the Federal Reserve (Fed) to cut interest rates. The US central bank cut rates late last year but held its benchmark interest rate steady in the March meeting due to concerns that Trump’s policy of raising tariffs could reignite high inflation.
