Will the market wait and see where the Swiss franc is headed amid falling stock prices and a strong franc?

Will the market wait and see where the Swiss franc is headed amid falling stock prices and a strong franc?

05.11.2024

In the previous day’s trading, the U.S. dollar was the weakest currency throughout the day, starting from the Asian session. The USD/CHF pair fell from 0.8680 to 0.8614. A downtrend developed along the 10-period moving average (MA) on the hourly chart. On the 4-hour chart, the pair fell to the -2σ level of the Bollinger Bands, and on the daily chart, it temporarily broke below the 20-period MA support line. We will need to monitor the direction of the market to see if the U.S. dollar continues to weaken against the Swiss franc.

Among European currencies, the Swiss franc emerged as the strongest currency during U.S. trading hours. The CHF/JPY pair rose from 175.298 to 176.273. On the hourly chart, the price has moved from below the 20-period moving average (MA) to above it. On the 4-hour chart, the 75-period MA is acting as a support level, and on the daily chart, the pair is beginning to resume an upward trend without falling to the 20-period MA.

Today’s schedule includes the China Caixin Non-Manufacturing PMI at 10:45, the RBA policy rate and statement at 12:30, RBA Governor Block’s press conference at 13:30, the Swiss unemployment rate at 15:45, and at 16:45, French industrial production, the French manufacturing production index, and the French budget balance.at 6:30 PM, the UK Non-Manufacturing PMI; at 10:30 PM, the Canadian and U.S. trade balances; at 11:45 PM, the U.S. Non-Manufacturing PMI; at midnight, the U.S. ISM Non-Manufacturing Index; at 3:00 AM, the U.S. 10-year Treasury auction; and at 6:45 AM the following day, the New Zealand Q3 unemployment rate.We will be closely monitoring the direction of the Swiss franc, which has been rising amid falling stock prices.

Past Market Reports

1. 17.04.2026New

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

2. 16.04.2026New

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

3. 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

4. 14.04.2026New

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

5. 13.04.2026New

   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

6. 10.04.2026

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

7. 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?

8. 08.04.2026

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

9. 07.04.2026

   Market participants may be wary of further downside potential for the U.S. dollar, which has weakened amid concerns over the situation in Iran

10. 06.04.2026

    Investors should be wary of sudden spikes in volatility while major markets are closed