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All Eyes on Switzerland’s Policy Rate?

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All Eyes on Switzerland’s Policy Rate?

17.06.2021

Today's Highlights
  1. Switzerland: Policy Rate and Statement Release
  2. European Consumer Price Index (Final Figures)

Yesterday, stock prices fell in the U.S. market, leading to a scenario of falling stock prices, a stronger U.S. dollar, and higher interest rates.At yesterday’s FOMC meeting, the committee stated it would “begin discussions” on tapering quantitative easing, which was in line with market expectations. Additionally, the GDP growth rate for the October–December quarter of this fiscal year was revised upward from 6.5% to 7.0%.

The U.S. dollar is surging due to a rise in the yield on 10-year U.S. Treasuries. The GBP/USD pair fell from 1.413 to 1.397.The AUD/USD pair has also fallen by about 120 pips, from 0.771 to 0.759. The USD/CHF pair has risen from 0.892 to 0.909. The Dollar Index has risen from 90.5 the previous day to 91.4. We will be watching to see if the U.S. dollar’s strength continues today.

Today, the Swiss trade balance will be released at 15:00 Asia time; the SNB policy rate and statement will be announced at 16:30 Europe time; the Eurozone Consumer Price Index (final reading) will be released at 18:00; the TCMB policy rate and statement will be announced at 20:00;and during U.S. trading hours at 21:30, Canada’s International Securities Turnover and Housing Price Index; at 21:30, U.S. Initial Jobless Claims and the Philadelphia Fed Business Outlook Index; at 23:00, the U.S. Leading Economic Index; and at 23:30, U.S. Weekly Natural Gas Inventories are scheduled for release.We will keep a close eye on price movements while paying close attention to today’s announcement of the Swiss policy rate and statement.

桜井 慶介

Author: Keisuke Sakurai

He has over 10 years of experience in FX trading. In the financial sector, he has been involved in investment management with a particular focus on foreign exchange markets, and he also has experience as an asset management advisor. Drawing on his extensive experience, he specializes in technical and fundamental analysis.

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