USD/CHF Rises Ahead of SNB Interest Rate Decision
The USD/CHF pair is trading slightly higher, with the Swiss Franc (CHF) facing pressure ahead of the Swiss National Bank's (SNB) interest rate decision. The SNB is expected to cut interest rates by 25 basis points (bps).
US Dollar
The US Dollar (USD) has weakened, driven by concerns over US job growth and expectations for further Fed rate cuts. The CME Fedwatch tool shows a high probability of a 50 bps rate cut in November.
Economic Data
Investors will focus on the US Personal Consumption Expenditure (PCE) Price Index for August, which is expected to show a slight acceleration in inflation.
Technical Analysis
The USD/CHF pair is trading near a key resistance level. A break above this level could signal a bullish trend.