- USD/CHF kicks the week off trading lower.
- US Dollar Index remains under mild pressure.
- US September PMI data in focus.
USD/CHF closed on Friday in the red. Today, the pair extended those losses hitting an almost two week low of 0.9155. USD/CHF trades -0.45% 0.9168.
DXY adds to last weeks’ losses
USD is out of favour on Monday putting USD/CHF under pressure.
that the mood in the market is improving on news flow that US President Donald Trump could be discharged from the hospital today This is weighing on demand for the US Dollar S&P 500 futures trade +0.65%, indicating a positive start is expected on Wall Street the US Dollar Index (DXY), which tracks the USD’s performance versus a basket of six major peers, is trading -0.18% at 93.65.
Looking ahead, IHS Markit and the ISM will release the Services PMI (September). Expectations are for continued expansion in the service sector’s activity at a robust pace. An upbeat reading could boost risk sentiment further adding to the negative bias surrounding the USD.
The greenback could recover if the market mood deteriorates later in the day and help USD/CHF ease losses.
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