USDCHF on Friday rose 0.53% to 0.89025. Week ending 2023-05-05 moved lower by -0.39%. What happened.
USDCHF Analysis
| Performance | |||||
| Period | Pct | Chg | Momentum | ||
| Friday | 0.53% | 46.7 Pips |  | ||
| Week 2023-05-05 | -0.39% | -34.6 Pips |  | ||
| May | -0.39% | -34.6 Pips |  | ||
Upcoming key events for the new week (London Time)
Wed 01:30 PM USD CPI Inflation Rate excluding Food & Energy sectors (1-mth) Wed 01:30 PM USD CPI Inflation Rate excluding Food & Energy sectors (12-mth) 
Thu 01:30 PM USD Initial Unemployment Insurance Claims Fri 03:00 PM USD Michigan Index of Consumer Sentiment
What happened over the week
🇺🇸 Nonfarm Payroll Employment in April exceed forecast and rose to 253K compared to previous figure 165K, revised from 236K in March Source: Bureau of Labor Statistics
🇨🇭 Unemployment Rate seasonal adjustment (1-mth) in April unchanged at 1.9% compared to previous report in March. The actual figure is also in line with the forecast USD Nonfarm Business Labor Productivity in Q1 preliminary estimate dropped to -2.7% compared to previous figure 1.6% (revised from 1.7%). Source: Bureau of Labor Statistics 🇺🇸 In the week ending 29 April, the Initial Unemployment Insurance Claims rose to 242K compared to previous figure 229K (revised from 230K) Source: Department of Labor 🇺🇸 Goods and Services Trade Balance in March exceed forecast and improved to -64.2$ compared to previous figure -70.6, revised from -70.5$ in February 🇺🇸 Fed Interest Rate Decision (Federal Funds Rate) rose to 5.25% compared to previous rate 5% Source: Federal Reserve 🇺🇸 Factory Orders (1-mth) in March exceed forecast and rose to 0.9% compared to previous figure -1.1, revised from -0.7% in February Source: Census Bureau
What can we expect from USDCHF for the new week and what happened on Friday?
USDCHF on Friday rose 0.53% to 0.89025. Price is below 9-Day EMA while Stochastic is falling. For the week ending 2023-05-05, the pair dropped -0.39% or -34.6 pips lower.
Looking ahead on Monday, USDCHF looks bullish as the pair ended higher after Friday trading session.
For the new week, our technical outlook is mixed. To see upside interest, we prefer to look at price breakout of week high of 0.89949 or at least consolidates above Weekly Pivot level of 0.89057. On the downside, we are looking at week low 0.88197 or 0.88165 (WS1) as immediate support level. USDCHF need to break on either side to indicate a short-term bias. A close below week low of 0.88197 would indicate selling pressure.
For the month of May, USDCHF is down by -0.39% or -34.6 pips lower.
Weekly key levels to watch out:
| R3 | 0.91669 |
| R2 | 0.90809 |
| R1 | 0.89917 |
| Weekly Pivot | 0.89057 |
| S1 | 0.88165 |
| S2 | 0.87305 |
| S3 | 0.86413 |
You might also be interested in:
Advanced Monthly Sales for Retail and Food Services Source: Census Bureau Payroll employment rises by 253,000 in April; unemployment rate changes little at 3.4% Source: Bureau of Labor Statistics Publications
Swiss Consumer Price Index in April 2023 – Consumer prices remained stable in April Source: Federal Statistical Office U.S. International Trade in Goods and Services, March 2023 Source: Bureau of Economic Analysis U.S. International Trade in Goods and Services Source: Census Bureau Housing Vacancies and Homeownership Source: Census Bureau Rental Vacancy Rate Source: Census Bureau Federal Reserve issues FOMC statement Source: Federal Reserve Manufacturers’ Shipments, Inventories, and Orders Source: Census Bureau Construction Spending Source: Census Bureau
#USDCHF Trending on Twitter
09:00 UTC
#USDJPY is @ 133.54, projected to reach 133.49 (-5.43 pips) in the next 60 minutes (med.) - probability 65.65%
#USDCHF is @ 0.9176, projected to reach 0.9181 (5.0 pips) in the next 63 minutes (med.) - probability 48.55%
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