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Should We Be Wary of Further Declines in the Swiss Franc?

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Should We Be Wary of Further Declines in the Swiss Franc?

21.03.2025

Today's Highlights
  1. UK GfK Consumer Confidence Index
  2. U.S. — Williams: Remarks by the President of the New York Fed

In the U.S. currency market yesterday, the Canadian dollar fell against the yen after Canada’s February industrial production figures, released yesterday, showed a decline from 1.6% the previous month to 0.4%. The CAD/JPY pair fell from 103.949 to 103.152.The price fell to the 200-period SMA on the hourly chart. On the 4-hour chart, the price has rebounded from the 200-period EMA, and on the daily chart, the RSI is trending downward just below the 50 level.

Among European currencies, the Swiss franc fell against the U.S. dollar. The USD/CHF pair rose from 0.8756 to 0.8841, surging to the +2σ level of the hourly Bollinger Bands.On the 4-hour chart, the price has recovered to the 75-MA line, and on the daily chart, the 200-SMA is acting as a support level. We will need to keep a close eye on price movements during U.S. trading hours to see if the Swiss franc continues to weaken.

Today’s economic indicators include New Zealand’s trade balance at 6:45, Japan’s national consumer price index at 8:30, Japan’s foreign and domestic securities investment at 8:50, the UK’s GfK consumer confidence index at 9:01, the Eurozone’s current account balance at 18:00,8:00 p.m. UK CBI Business Survey, 9:30 p.m. Canada Retail Sales, 10:05 p.m. U.S. Remarks by Williams, President of the New York Fed, and 12:00 a.m. Eurozone Consumer Confidence Index. Keep an eye on the downside potential of the falling Swiss franc.

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 focused primarily on foreign exchange markets and has experience as an asset management advisor. Drawing on his extensive experience, he specializes in technical and fundamental analysis.

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