The USD/CHF pair snaps a two-day losing streak during the early European session on Friday. The pair currently trades near 0.8927, up 0.15% on the day
USD/CHF recovers some lost ground, holds above the 0.8900 mark on Friday. The Swiss Trade surplus widened more than expected in September. Fed Chair Jerome Powell signaled a desire to hold the interest rate. .Meanwhile, the escalating geopolitical tension between Israel and Hamas might benefit to the safe-haven currency like Swiss Franc . The Swiss Trade surplus widened more than expected in September.
The US weekly job report indicated that the US economy remains robust. The Initial Jobless Claims for the week ending October 14, dropped to 198,000, the lowest level since January 2023. Existing home sales fell 2.0% MoM in September, the lowest level since 2010. These numbers suggested that higher mortgage costs negatively impact housing market confidence.
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