Swiss Franc posted biggest weekly rise against USD

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Safe haven Swiss Franc posted biggest weekly rise against USD in 4-months amid troglodyte US economy

The American Dollar, Swiss Franc and Japanese Yen trending points

  • The sweet safe haven currencies like Swiss Franc and Japanese Yen kept gaining against American Dollar on Friday, as the Swiss Franc posted their biggest weekly rise in 4 months
  • The US economy appeared to be troglodyte, as it appeared to be jawboned to its partial government shutdown policy and most of the US policymakers are blaming Donald Trump over the lengthening of the shutdown process, while USD kept draining and it plunged over 0.3 percent against both Euro and GBP on Friday, the December 28th.
  • The Japanese Yen is holding on still below 110.50 region against USD and investors are eyeing a break below 110s, as the political gridlock over US administration does not appear to be swayed away anytime soon.

Safe haven currencies and commodities posting gains, as US dollar softens amid grueling political gridlock

After US department of Commerce decided to conceal their economic data on Thursday, December 27th, the safe haven currencies like Swiss Franc and Japanese Yen have been eyeing larger against. After a volatile week amid US political turmoil and US China trade disputes, the American Dollar appeared to be weakening and if the US department of Commerce keeps continuing its current policy, the USD might breach below its initial support level at 95.50, while currently it is being reigning just over 95.83.

Almost all of the major currencies appeared to have posted gains against USD on Friday, December 28th, including Swiss Franc, Japanese Yen, Euro and GBP. While the USD/SEK, USD/NOK and USD/CNH had also experienced plunges, while the outlook for global stock indexes happened to be reducing their risk appetite.

On particular, the Swiss Franc is on track to post its biggest weekly rise in roughly four months, while it has been 0.5 percent up this month, and while this report is being prepared, December 28th, GMT 16.00, the USD/CHF is residing at $0.9835, posting a 0.42 percent loss for American dollar. At the same time, the Japanese Yen is at $110.36, scoring a slight 0.10 percent gain against USD.

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USD/CHF daily chart

USD/CHF daily chart

USD/JPY daily chart

USD/JPY daily chart

At this standpoint, the Japanese Yen and Swiss Franc, alongside GBP and Euro might continue to climb, unless the US department of commerce unveils their economic data, which does not seem to be happening anytime soon.

Bottom Line

As the weaker demand appears to have taken control over the market before 2019, the safe haven assets have been becoming more lucrative than ever before, including the gold and natural gas. At the meantime, the oil is wobbling and the copper is crumbling amid declined global demands.

Yen and Swiss Franc might continue to gain, while Nikkei 225 may experience slight plunge over the upcoming week, as Japan’s industrial output contracted on November, indicating that the global scale decline of demand had started to take place, which eventually would mount the currencies higher and plunge the stocks lower.

More critically, the figures revealed just after a day, Shanghai had posted their first loss on industrial data over a three-year time frame.

Read more on Japanese Yen news here

[Disclaimer: The content of this article is personal opinion and should not be considered as investment advice or suggestion towards any trading activity.]

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