European market in early trading, based on the market's optimistic expectations of the non-agricultural report of the United States, European stock markets are now fully rebounded, making the market risk appetite revive, dragging the USD/CHF to retreat to the 0.9530 level from the session high.
Later announced that the inflation rate in November in Switzerland fell more than expected. The monthly and annual rates dropped by 0.2% and 0.7% respectively, which was lower than the expected monthly decline of 0.5%. This further implied that the risk of a slowdown in the Swiss economy forced the Swiss authorities to Adjusting the lower limit of the EUR/CHF target exchange rate, USD/CHF briefly rises to close to the session high.
However, due to continued improvement in market sentiment, the exchange rate fell again and touched the 0.9505 intraday low. Subsequently, due to the lower than expected retail sales and unemployment data in November and the November industrial orders data from Germany, the marketâ€™s pessimistic outlook on the euroâ€™s growth prospects weighed on market sentiment and supported USD/CHFâ€™s recovery.
New York morning, US non-farm payrolls data for December showed that the number of non-farm payrolls increased by 200,000, which was higher than the expected increase of 150,000; the US unemployment rate fell to 8.5% in December from 8.7% in the previous month, hitting a year in 2009. New low since February, with an expected 8.7%. The strong employment data has eased the marketâ€™s concerns about the US economic outlook and continued to cool the Fedâ€™s implementation of the third round of quantitative easing, boosting the popularity of the dollar.
In addition, Fitch Ratings downgraded Hungaryâ€™s sovereign credit rating from â€œBB+â€ to â€œBB+â€. The outlook was negative, which severely weighed on market risk sentiment and increased the US dollarâ€™s â€‹â€‹hedging demand. Affected by this, USD/CHF expanded its gains and hit a 10-month high of 0.9578.
Wind Solar Hybrid Power Supply System,Wind And Solar Power Generation Systems,Wind And Solar Hybrid Power Systems,Wind And Solar Hybrid Power Generation System
Changzhou Fuyuan Wind Power Technology Development Co., Ltd. , https://www.wind-turbines-generator.com