All eyes are on whether the Swiss franc will react to the SNB’s policy rate announcement

All eyes are on whether the Swiss franc will react to the SNB’s policy rate announcement

15.12.2022

In yesterday’s U.S. currency trading, the U.S. dollar rose against the yen despite the FOMC raising rates by 0.5 percentage points as expected and Fed Chair Powell refraining from making overly hawkish remarks during his press conference.The USD/JPY pair rose to 135.972. Although it surged to the 75-period moving average (MA) on the hourly chart, the rally did not extend further, and the pair has been trading sideways in this price range during today’s Asian session. We will closely monitor whether the U.S. dollar gains momentum following the release of economic indicators during U.S. trading hours.

Ahead of today’s SNB policy rate announcement, the Swiss franc is rising against the yen. The CHF/JPY pair has climbed from 145.219 to 146.727. It rebounded off the 200-period simple moving average (SMA) on the hourly chart as a support level. However, on the daily chart, it remains just below the 20-period moving average (MA), and with the direction still unclear, we will be watching closely to see if today’s SNB policy rate announcement triggers significant price movements.

Today’s schedule includes Turkish home sales at 4:00 PM, the Swiss National Bank’s (SNB) policy rate decision and statement at 5:30 PM, a press conference by SNB Governor Jordan at 6:00 PM, the Bank of England’s (BOE) policy rate decision and statement at 9:00 PM, and at 10:15 PM, the ECB’s policy rate decision and statement, Canadian housing starts, U.S. initial jobless claims at 10:30 PM, U.S. retail sales, and the U.S. New York Fed Manufacturing Index.ECB policy rate and statement, and Canadian housing starts; at 10:30 PM, U.S. initial jobless claims, U.S. retail sales, and the U.S. New York Fed Manufacturing Index; at 10:45 PM, a press conference by ECB President Lagarde; at 11:15 PM, U.S. industrial production and capacity utilization; and at 12:30 AM, U.S. weekly natural gas inventories.We will be watching to see if the Swiss franc reacts to the SNB’s policy rate announcement.

Past Market Reports

1. 21.04.2026New

   Will interest grow in the upside potential of the Swiss franc, which has risen against the yen?

2. 20.04.2026New

   With the euro-Australian dollar pair hitting new lows this month, attention is turning to how much further it might fall

3. 17.04.2026New

   Will the market wait and see how much further the U.S. dollar can rise against the yen?

4. 16.04.2026New

   Will the weakening Swiss franc recover? Attention is turning to price movements during European trading hours.

5. 15.04.2026New

   Market participants are likely keeping a close eye on the upside potential of the euro, which has risen against the U.S. dollar

6. 14.04.2026

   Should we keep an eye on remarks by key figures in the U.S. and try to gauge the direction of currency strength?

7. 13.04.2026

   Market participants are likely watching for signs of a rebound in the Canadian dollar, which fell against the U.S. dollar following the release of employment figures

8. 10.04.2026

   Will the weakening Swiss franc continue to strengthen against the yen, or should we wait and see?

9. 09.04.2026

   Will the U.S. dollar, which has fallen against the yen, continue its downward slide, or should we wait and see how the market moves?

10. 08.04.2026

    Should we keep an eye on the upside for European currencies that have risen against the U.S. dollar?