Economic data will continue to make the rounds on Thursday, with most of the action centered on North American markets. A policy meeting at the Swiss National Bank (SNB) got media attention, although no changes were expected. Meanwhile, how is the USDCHF pair currently trading? The 15 March USDCHF Fundamental Drivers Analysis reveals!
15 March, OctaFX – The Swiss government reported on producer inflation at 08:15 GMT, leading to the SNB policy statement fifteen minutes after. The central bank has kept its benchmark interest rate in negative territory at -0.75% as widely expected.
Shifting gears to North America, the New York Federal Reserve Bank will issue its monthly report on manufacturing at 12:30 GMT. The Empire State manufacturing index is projected to rise to 15.0 in March from 13.1 the previous month.
15 March USDCHF Fundamental Drivers Analysis
After weeks of steady progress, the USD/CHF has declined over the past two sessions amid heightened geopolitical and trade risks involving the United States. The pair now trades at 0.9444, with immediate support located at 0.9300. The pair will remain under pressure insofar as it trades below the 0.9535 resistance.
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