{"id":233372,"date":"2024-01-21T13:25:06","date_gmt":"2024-01-21T07:55:06","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=233372"},"modified":"2024-01-21T13:25:06","modified_gmt":"2024-01-21T07:55:06","slug":"swiss-franc-extends-declines-usd-chf-set-for-a-fifth-straight-gain-on-friday-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/swiss-franc-extends-declines-usd-chf-set-for-a-fifth-straight-gain-on-friday-crypto-news\/","title":{"rendered":"Swiss Franc extends declines, USD\/CHF set for a fifth straight gain on Friday &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div id=\"fxs_article_content\">\n<p>\n                        <span class=\"fxs_socialmedia_bar_share_label\">Share:<\/span><\/p>\n<ul>\n<li><strong>The CHF is broadly lower on the week, sending USD\/CHF into a fresh six-week high.<\/strong><\/li>\n<li><strong>Switzerland Producer and Import Prices slipped further in December.<\/strong><\/li>\n<li><strong>SNB\u2019S Jordan: appreciating Franc threatens Swiss inflation stability.<\/strong><\/li>\n<\/ul>\n<p>The Swiss Franc (CHF) slid further on Friday, extending recent losses as the market walks back a massive dogpile into the Swiss currency. The <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/currencies\/usdchf\">USD\/CHF<\/a> has climbed around 4.5% from December\u2019s late low of 0.8332, a 12-year low for the pair.<\/p>\n<p>Switzerland enjoys an economic environment massively different from its immediate European neighbors, with inflation already well within the Swiss National Bank\u2019s (SNB) 2% maximum target and a stubbornly-healthy domestic economy.<\/p>\n<p>The CHF gained significant value through 2023, climbing nearly 18% bottom-to-top against the US Dollar (USD) from 2022\u2019s Q3 USD\/CHF peak of 1.1047. With the popular CHF outrunning valuations and hampering the SNB\u2019s ability to fine-tune policy using foreign currency reserves, the SNB flashed a warning to broader markets recently that if the CHF continues to appreciate, it will begin to transfer disinflationary pressure directly into the Swiss economy.<\/p>\n<p>Having battled a disinflation cycle in the past, the SNB is in no rush to find itself mired in the same scenario again. Markets have apparently heeded <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/macroeconomics\/central-banks\/snb\">SNB<\/a> Chairman Thomas Jordan\u2019s call for the time being, setting the USD\/CHF on pace for its single-best weekly performance since late 2022.<\/p>\n<h2 class=\"fxs_headline_medium\">USD\/CHF Technical Outlook<\/h2>\n<p>The <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/currencies\/us-dollar-index\">US Dollar<\/a> is up around 1.85% against the Swiss Franc <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/economic-calendar\/united-states\">this week<\/a>, climbing from Monday\u2019s early bids near 0.8525, tapping the 0.8700 handle on Friday heading into the week\u2019s closing bell.<\/p>\n<p>The USD\/CHF is set for its first technical challenge since finding the floor in late December, with the pair pushing directly into technical resistance from the 50-day Simple Moving Average (SMA) in the back half of the week\u2019s trading.<\/p>\n<p>A further technical ceiling is priced in at the 200-day SMA near 0.8850, with near-term technical barriers at the 0.880 handle where the pair last caught a swing high.<\/p>\n<h2 class=\"fxs_headline_medium\">USD\/CHF Hourly Chart<\/h2>\n<h2 class=\"fxs_headline_medium\">USD\/CHF Daily Chart<img decoding=\"async\" alt=\"\" src=\"https:\/\/editorial.fxstreet.com\/miscelaneous\/USD_CHF-638412870361029148.png\" style=\"width: 898px;height: 697px\" \/><\/h2>\n<p>\u00a0<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Share: The CHF is broadly lower on the week, sending USD\/CHF into a fresh six-week high. Switzerland Producer and Import Prices slipped further in December. SNB\u2019S Jordan: appreciating Franc threatens Swiss inflation stability. The Swiss Franc (CHF) slid further on Friday, extending recent losses as the market walks back a massive dogpile into the Swiss [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":13245,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,257,276,255,250,252,247,253,249,1625,597,256,254],"class_list":["post-233372","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-currencies","tag-gta","tag-looks-rare","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-snb","tag-usdchf","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/233372","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=233372"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/233372\/revisions"}],"predecessor-version":[{"id":233374,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/233372\/revisions\/233374"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/13245"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=233372"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=233372"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=233372"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}