The USD/CHF pair surrenders gains after facing barricades near 0.8950 in the European session. The Swiss Franc asset faced selling pressure as the US
USD/CHF fails to hold gains as the US Dollar remains subdued ahead of multiple US data. The market mood remains downbeat due to escalating Middle East tensions. Fed Logan said that higher bond yields and recent economic data have bought some time for the central bank. Dollar turned subdued in a data-packed week. The US Dollar Index trades marginally above the crucial support of 106.00.
This week, investors will focus on the preliminary S&P Global PMI data for October, Durable Goods Orders, and the core Personal Consumption Expenditure price index data for September. The show-stopper event would be the Q3 Gross Domestic Product data, which will be announced on Thursday. As per the consensus, the growth rate was 4.2% vs. 2.1% growth in the April-June quarter on an annualized basis. On the Swiss Franc front, investors await the ZEW Survey Expectations for October.
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