The USD/CHF pair remained under pressure on Tuesday, holding below the 0.9050 level as traders focused on upcoming US PMI data. Market participants are anticipating the release of the Purchasing Managers’ Index (PMI) figures, which could provide fresh insights into the strength of the US economy and influence the direction of the US dollar. A stronger-than-expected PMI could further support the greenback, while weaker data might trigger a reversal in the pair’s current trend.
Despite the US dollar’s strength in recent weeks, the Swiss franc continues to hold its ground, benefiting from its status as a safe-haven currency amid global economic uncertainties. The pair’s inability to break above the 0.9050 level signals that traders remain cautious ahead of key economic releases, with US data likely to be a decisive factor in setting the tone for the USD/CHF’s next move.
Market sentiment is also being shaped by expectations surrounding the Federal Reserve’s monetary policy. With the Fed signaling potential rate hikes, the dollar’s strength may persist, but any negative surprises from the PMI data could result in short-term weakness for the US currency.
As the USD/CHF pair continues to hover below the 0.9050 mark, traders will closely monitor the upcoming US PMI figures for any signs that could alter the near-term outlook. A clear break above or below this level will likely hinge on the data’s implications for the broader economic recovery and future Federal Reserve actions.
