Ella 
The USD/CHF pair saw a modest rebound on Monday, hovering near 0.9050 after reaching a low of 0.8998 on Friday. Today, the pair surged to as high as 0.9065, although there are indications of potential exhaustion among buyers following the recent uptrend.
Supporting the greenback’s advance was positive news from the US economy last Friday. The Non-Farm Payrolls data surpassed expectations, with 303K jobs added compared to the forecasted 212K, and surpassing the previous period’s 270K. Additionally, the Unemployment Rate unexpectedly decreased from 3.9% to 3.8%, while Average Hourly Earnings recorded a 0.3% growth, in line with expectations.
Conversely, today witnessed an increase in Switzerland’s unemployment rate from 2.2% to 2.3%, contrary to traders’ anticipation of a steady 2.2%. Tomorrow, the US is slated to release the NFIB Small Business Index and RCM/TIPP Economic Optimism, though their impact on the markets is expected to be minimal.
Market focus is expected to intensify on Wednesday, with the release of crucial inflation figures from the US. The Consumer Price Index (CPI) is anticipated to show a 0.3% growth in March, following a 0.4% increase in February. On a year-over-year basis, CPI may announce a 3.4% growth, compared to 3.2% in the previous month, while Core CPI could register a 0.3% growth, down from February’s 0.4% rise. Any inflation figures surpassing expectations may bolster the US dollar, potentially diminishing speculation about future rate cuts by the Federal Reserve.
These forthcoming economic fundamentals are poised to play a significant role in shaping market sentiment and influencing trading dynamics in the days ahead.
