Ella 
USD/CHF trades lower near 0.8830 amid firming Swiss inflation.
The U.S. dollar ended the previous day’s gains and retreated.
Investors awaited U.S. data for further clues on the state of the country’s economy.
Following the previous day’s gains, USD/CHF traded lower during the European session on Friday to around 0.8830. The Swiss franc was supported as the Swiss consumer price index (CPI) remained at 1.6% in August, higher than market expectations of 1.5%.
The U.S. dollar index , which measures the greenback’s value against six other major currencies, hovered around 103.60 for now. The greenback, however, was boosted by Thursday’s firming in the Fed’s preferred measure of inflation. Market participants, however, sought fresh impetus from the Fed to raise interest rates in September.
The annual rate of the US personal consumption expenditures price index (PCE) rose to 4.2% in July, in line with market expectations, and the previous value was 4.1%. At the same time, the number of initial jobless claims for the week ended August 25 fell to 228,000, and the market expected to rise to 235,000 from the previous value of 232,000.
The dollar came under downward pressure ahead of the release of US macroeconomic data. Tonight, the US will release non-farm payrolls and average hourly wages, as well as the ISM Manufacturing Purchasing Managers Index. The data will provide more clues on the outlook for the U.S. economy, which may help USD/CHF traders establish positioning strategies.
