USD/CHF Steady as Markets Watch Fed and US Data

Key Moments

USD/CHF Steadies After Warsh Boost

USD/CHF consolidates near 0.7730 in early European trading, maintaining gains from Friday. The Swiss Franc remains supported as the US Dollar benefits from Kevin Warsh’s nomination as the next Federal Reserve Chairman.

Meanwhile, the US Dollar Index (DXY), which tracks the USD against six major currencies, trades near its weekly high at 97.33.

On Friday, President Trump announced Kevin Warsh as Fed Chair. The news pushed the US Dollar higher. Markets expect Warsh to favor a steady approach to interest rates, given his historical support for a stronger Dollar.

US Data in Focus: NFP and ISM Manufacturing PMI

Looking ahead, the US Dollar may trade cautiously as investors await January’s Nonfarm Payrolls (NFP) on Friday. The labor market report will guide expectations for US interest rates.

According to the CME FedWatch tool, the market currently expects the Fed to keep rates unchanged at its March meeting.

Attention also turns to the US ISM Manufacturing PMI for January, scheduled for 15:00 GMT. Economists expect the index to rise slightly to 48.3 from December’s 47.9, remaining in contraction.

Swiss Franc and Risk Sentiment

The Swiss Franc trades broadly stable against major currencies. A cautious, risk-off environment supports CHF, which keeps USD/CHF near recent highs.

Key Market Metrics

Instrument / Indicator

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