CHF Swiss franc – Swiss inflation rate falls in December, central bank raises chances of rate cut again

Data on Tuesday showed that Swiss inflation fell again in December, fuelling expectations for further interest rate cuts from the Swiss National Bank this year. Data from the Federal Statistical Office showed that Swiss prices rose 0.6% year-on-year in December, down from 0.7% in November. After the data was released, the market believed that the probability that the Swiss National Bank would cut interest rates by 25 basis points from the current 0.5% in March increased to 98.4% from the previous 91%. Switzerland's average inflation rate in 2024 is expected to be 1.1%, and the Swiss National Bank's target range is 0% to 2%.

USD/CHF trend, technical chart, RSI and stochastic index continue to rise, and the exchange rate has stabilized above the 10-day moving average and 0.90 mark in recent days, so in the short term, we should pay attention to the possibility of USD/CHF extending to a new level. A rising trend. The upward target is expected to be 0.91, with further reference to 0.9160 and even the May 1 high of 0.9224. The medium-term key reference is 0.9440. As for the nearest support, it is expected to be at 0.90, and the next level is estimated to be at 0.89 and the 50-day moving average of 0.8860.

Estimated range:
Resistance 0.9100 – 0.9160 – 0.9224 – 0.9440
Support 0.9000 - 0.8900 - 0.8860
This week's news:
Swiss prices rise 0.6% in December

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