USD/CHF Rallies To 0.8800 On Soft Swiss Inflation Data, US CPI Eyed

 witnesses a stellar buying interest and reaches to the round-level resistance of 0.8800 in the European session on Tuesday after a soft Swiss Consumer  (CPI) report for January.The monthly CPI grew at a slower pace of 0.2% against the consensus of 0.6%. In December, price pressures remained stagnant. Annual inflation decelerated significantly to 1.3% from expectations and the prior reading of 1.7%. The Swiss economy is consistently operating below 2% inflation, which would allow the Swiss National Bank (SNB) to unwind its restrictive monetary policy stance.S&P500 futures have posted decent losses in the London session, portraying caution among market participants ahead of the United States inflation data for January, which will be published at 13:30 GMT. Meanwhile, the  Index (DXY) has surrendered all of its intraday gains.According to the expectations, the headline CPI grew at a steady pace of 0.2% on a monthly basis. In a similar timeframe, the core CPI that excludes volatile food and  rose steadily by 0.3%. The annual headline inflation is anticipated to decelerate to 2.9% from 3.4% in December, while core CPI rose at a slightly slower pace of 3.7% against 3.9%.Decelerating price pressures would allow the Federal Reserve (Fed) to consider rate cuts in the May policy meeting as anticipated by investors. However, Fed policymakers have been reiterating that they need progress in declining inflation for months before reducing interest rates. USD/CHF

OVERVIEW Today last price 0.8794 Today Daily Change 0.0037 Today Daily Change % 0.42 Today daily open 0.8757

 

TRENDS Daily SMA20 0.8673 Daily SMA50 0.8622 Daily SMA100 0.88 Daily SMA200 0.8844

 

LEVELS Previous Daily High 0.8773 Previous Daily Low 0.8727 Previous Weekly High 0.8762 Previous Weekly Low 0.8662 Previous Monthly High 0.8728 Previous Monthly Low 0.8399 Daily Fibonacci 38.2% 0.8755 Daily Fibonacci 61.8% 0.8744 Daily Pivot Point S1 0.8732 Daily Pivot Point S2 0.8706 Daily Pivot Point S3 0.8685 Daily Pivot Point R1 0.8778 Daily Pivot Point R2 0.8798 Daily Pivot Point R3 0.8824

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