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On June 16, the Swiss Central Bank unexpectedly raised interest rates by 50 basis points to -0.25% for the first time in 7 years, which caused the Forex USD/CHF pair to fall down to 0.9650. Officials led by President Thomas Jordan also said further tightening may be needed and added that they would remain “active” in the USD/CHF Forex news.
USD/CHF Forex prediction: inflation, raised rates, etc.
Meanwhile, inflation in Switzerland continues to grow following inflation in the Eurozone. Thus, the Producer Price Index (PPI) rose by 0.9% in May and the upward trend of the Forex chart USD/CHF is likely to continue. In this regard, it is likely that the Swiss Central Bank will raise rates at the next meetings, which in the medium term will be able to strengthen the Swiss franc.
Long and short-term Forex USD/CHF forecasts
The long-term trend in the USD/CHF Forex live chart, however, remains up. After the test of the level of 1.0040 and the buyers’ inability to break through it, the price went into a correction and is currently testing the support level of 0.9650. If this level is held, then the growth of the Forex USD/CHF price will continue with the target at the maximum of the month. If the level is broken down, then the correction will continue with the target at the key trend support of 0.9560.
The medium-term trend is down. As part of the trend, the USD/CHF Forex live chart broke through the Target zone 3 0.9710 – 0.9699. The next sell target is Target Zone 4 0.9601 – 0.9591.
Last week the price also corrected to the area of the key trend resistance of 0.9738 – 0.9728. The area was held and as a result, the price is now falling with the first target in the area of last week’s Forex chart USD/CHF low at 0.9622.
What are the latest USD/CHF Forex news?
The most attention is focused on the US regulator. The Forex USD/CHF forecast experts are expecting a similar move (raised interest rates by 50 basis points) at the next meeting in July.
Much more interesting are the protocols of the Swiss National Bank, which keeps negative rates at -0.75% for the seventh year in a row, and one of the arguments of the current policy is the desire to prevent the excessive strengthening of the national currency.
Today, with the USD/CHF Forex live chart close to parity, this argument may not be enough, especially as the rest of the major central banks are battling record-high inflation driven by soaring energy prices.
Amid the USD/CHF Forex prediction, the Swiss Federal Electricity Commission said that households and industries will continue to receive higher electricity bills, as most suppliers have already indicated their willingness to almost double their selling prices.
What is the swap rate in Forex USD/CHF?
As you know the swap rate is also influenced by the USD/CHF Forex live chart. Therefore, it’s crucial to know it prior to starting any trade. In case you don’t know what is the swap rate in Forex USD/CHF then at the time of this writing it is 0.332%.