S&P 500 — US Large Cap Index
FTSE 100 — UK Blue Chips
Euro Stoxx 50 — Eurozone Leaders
DAX 40 — German Equities
CAC 40 — French Market Index
Nikkei 225 — Japan Benchmark
Hang Seng — Hong Kong Index
Shanghai Composite — China Mainland
ASX 200 — Australian Market
TSX Composite — Canada Index
Nifty 50 — India Large Cap
STI Index — Singapore Market
KOSPI — South Korea Index
Bovespa — Brazil Equities
JSE Top 40 — South Africa Index
IPC Index — Mexico Market
- USD/CHF exhibits strength near 0.8050 as the US Dollar is broadly outperforming its peers.
- Traders trim Fed dovish bets amid upside US inflation risks.
- Investors await Swiss CPI and US ISM Manufacturing PMI data for October.
The USD/CHF pair demonstrates strength near an over two-week high around 0.8050 during Monday’s Asian session. The Swiss Franc pair trades firmly as the US Dollar (USD) holds onto gains due to receding speculation for further monetary policy easing by the Federal Reserve (Fed) this year.
At the press time, the US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, trades firmly near 99.85.
US Dollar Price Last 7 Days
The table below shows the percentage change of US Dollar (USD) against listed major currencies last 7 days. US Dollar was the strongest against the British Pound.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.87% | 1.36% | 0.76% | 0.02% | -0.24% | 0.91% | 1.01% | |
| EUR | -0.87% | 0.50% | -0.05% | -0.84% | -1.04% | 0.03% | 0.14% | |
| GBP | -1.36% | -0.50% | -0.65% | -1.34% | -1.52% | -0.46% | -0.40% | |
| JPY | -0.76% | 0.05% | 0.65% | -0.81% | -1.07% | 0.03% | 0.17% | |
| CAD | -0.02% | 0.84% | 1.34% | 0.81% | -0.32% | 0.89% | 0.95% | |
| AUD | 0.24% | 1.04% | 1.52% | 1.07% | 0.32% | 1.07% | 1.13% | |
| NZD | -0.91% | -0.03% | 0.46% | -0.03% | -0.89% | -1.07% | 0.07% | |
| CHF | -1.01% | -0.14% | 0.40% | -0.17% | -0.95% | -1.13% | -0.07% |
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the US Dollar from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent USD (base)/JPY (quote).
Fed dovish bets have eased as officials have become concerned over upside inflation risks, while interest rates reduced by 25 basis points (bps) to 3.75%-4.00% on Wednesday due to labor market concerns. After the monetary policy announcement, Fed Chair Jerome Powell also stated that the December rate cut is “far from a foregone conclusion”.
According to the CME FedWatch tool, the probability of the Fed to cut interest rates by 25 basis points (bps) to 3.50%-3.75% in the December meeting has eased to 69.3% from 91.7% seen a week ago.
In Monday’s session, investors will focus on the United States (US) ISM Manufacturing Purchasing Managers’ Index (PMI) data for October, which will be released at 15:00 GMT. The Manufacturing PMI is expected to come in at 49.2, marginally higher than 49.1 in September.
Meanwhile, the Swiss Franc (CHF) trades calmly ahead of the Swiss Consumer Price Index (CPI) data for October, which will be published at 07:30 GMT. The Swiss CPI is expected to deflate on a monthly basis for the third month in a row. However, the pace of decline is expected to be 0.1%, slower than 0.2% seen in September. On year, the Swiss CPI is estimated to have grown at a faster pace of 0.3% against estimates of 0.2%.
