USDCHF on Friday dropped -0.77% to 0.89886. Week ending 2023-11-03 moved lower by -0.37%. What happened.
USDCHF Analysis
| Performance | |||||
| Period | Pct | Chg | Momentum | ||
| Friday | -0.77% | -69.6 Pips |  | ||
| Week 2023-11-03 | -0.37% | -33.1 Pips |  | ||
| November | -1.21% | -110.1 Pips | | ||
Upcoming key events for the new week (London Time)
Wed 02:15 PM Federal Reserve Chair Jerome Powell speech 
Thu 01:30 PM Initial Unemployment Insurance Claims Fri 03:00 PM Michigan Index of Consumer Sentiment
What happened over the week
🇺🇸 U.S. Nonfarm Payroll Employment in October added 150K jobs, unemployment rate changed little at 3.9%. Source: Bureau of Labor Statistics
🇺🇸 U.S. Factory Orders (1-mth) in September exceed forecast and rose to 2.8% compared to previous figure 1, revised from 1.2% in August Source: Census Bureau
🇺🇸 U.S. Nonfarm Business Labor Productivity in Q3 preliminary estimate exceed forecast and rose to 4.7% compared to previous figure 3.5% in Q2 Source: Bureau of Labor Statistics
🇺🇸 U.S. Challenger Job Cuts in October dropped to 36.836K compared to previous figure 47.457K in September
🇨🇭 Switzerland CPI Inflation Rate (1-mth) in October rose to 0.1% compared to previous figure -0.1% in September Source: Federal Statistical Office
🇺🇸 U.S. Fed Interest Rate Decision (Federal Funds Rate) unchanged at 5.5% compared to previous rate 5.5% Source: Federal Reserve
🇺🇸 U.S. Job Openings and Labor Turnover Survey (JOLTS) in September exceed forecast and rose to 9.553M compared to previous figure 9.497, revised from 9.61M in August Source: Bureau of Labor Statistics
🇺🇸 U.S. Housing Price Index (1-mth) in August exceed forecast and dropped to 0.6% compared to previous figure 0.8% in July
🇺🇸 U.S. Employment Cost Index in Q3 exceed forecast and rose to 1.1% compared to previous figure 1% in Q2
From X (Twitter)
Consumer prices increased by 0.1% in October #statistics https://t.co/OQhtm5MTwZ pic.twitter.com/jnuol482y6
— Swiss Statistics (@swissstatistics) November 2, 2023
What can we expect from USDCHF for the new week and what happened on Friday?
USDCHF on Friday dropped -0.77% to 0.89886. Price is below 9-Day EMA while Stochastic is falling. For the week ending 2023-11-03, the pair dropped -0.37% or -33.1 pips lower.
Looking ahead on Monday, USDCHF looks bearish as the pair posted lower in 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 0.91125 or at least consolidates above Weekly Pivot level of 0.90220. On the downside, we are looking at week low 0.89648 or 0.89314 (WS1) as immediate support level. USDCHF need to break on either side to indicate a short-term bias. A close below week low of 0.89648 would indicate selling pressure.
For the month of November, USDCHF is down by -1.21% or -110.1 pips lower.
Weekly key levels to watch out:
| R3 | 0.92268 |
| R2 | 0.91697 |
| R1 | 0.90791 |
| Weekly Pivot | 0.90220 |
| S1 | 0.89314 |
| S2 | 0.88743 |
| S3 | 0.87837 |
You might also be interested in:
Manufacturers’ Shipments, Inventories, and Orders Source: Census Bureau Nonfarm Payroll Employment in October added 150K jobs, unemployment rate changed little at 3.9%. Source: Bureau of Labor Statistics Publications Construction Spending Source: Census Bureau
Consumer prices increased by 0.1% in October Source: Federal Statistical Office Federal Reserve issues FOMC statement Source: Federal Reserve Housing Vacancies and Homeownership Source: Census Bureau Rental Vacancy Rate Source: Census Bureau Swiss retail trade turnover rose in September 2023 by 0.7% Source: Federal Statistical Office
