USD/CHF looks capped below 0.9150 as US Inflation worries fade, US Retail Sales eyed – by Sagar_Dua24 USDCHF Inflation RetailSales Fed SNB
States inflation worries have cooled down while the street was anticipating a red-hot inflation figure. The release of the headline and core ConsumerS&P500 futures have sensed a marginal decline after a solid bullish drive on Tuesday. Investors ignored the Silicon Valley Bank collapse and cheered the declining trend in US inflation.
The 10-year US Treasury yields have remained firmer and have scaled to near 3.69% amid mixed views from the street on US inflation data. Prices of used cars continued to decline, however, house rent is climbing higher, weighing immense pressure on households. Analysts at Wells Fargo believe “Core CPI inflation remained entrenched at uncomfortably high levels. With core CPI up 0.5% in February, it is rising at an annualized rate of more than 5% whether measured on a 1-month, 3-month, or 12-month basis.” They further added, “With more than a week to go until the next Federal Reserve meeting, a 25 bps rate hike is still a distinct possibility if financial stresses ease.
On the Swiss Franc front, Producer and Import Prices have declined dramatically, which shows weak consumer demand. Monthly data was contracted by 0.2% while the street was anticipating a contraction of 0.1%. The Annual figure dropped to 2.7% vs. the consensus of 3.4%. A decline in prices of goods and services at factory gates and lower prices for imports must have reduced stress for Swiss National Bank policymakers, which were worried about rising price pressures.
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