Ella 
In early Asian trading on Friday, USD/CHF strengthened to around 0.8800. A stronger U.S. dollar supports USD/CHF’s rebound. Investors are awaiting Friday’s release of Swiss real retail sales and the U.S. ISM manufacturing purchasing managers’ index. USD/CHF is currently trading around 0.8845, up 0.04% on the day.
On Thursday, the U.S. personal consumption expenditures price index rose to an annual rate of 2.4% in January, slowing from 2.6% in December. The core PCE price index, the Federal Reserve’s preferred measure of inflation, fell to 2.8% from 2.9% in the previous reading, in line with market expectations.
In addition, the number of initial jobless claims for the week ended February 24 was 215,000, compared with the previous value of 202,000, which was weaker than the expected value of 210,000. Continuing claims for unemployment benefits rose to 1.905 million, above expectations of 1.874 million.
Inflation data for January added to the uncertain outlook and delayed interest rate cut expectations, boosting the US dollar against major currency pairs. Fed officials will be watching inflation data as policymakers may decide on a timing for a rate cut later this year.
In Switzerland, the Swiss State Secretariat for Economic Affairs (SECO) said on Thursday that Switzerland’s gross domestic product (GDP) quarterly rate in the fourth quarter of 2023 was 0.3%, which was better than the expected 0.1%.
