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Inflation Slows Down in Switzerland

3/7/2023 12:12 PM

Against positive macroeconomic statistics from Switzerland, the USD/CHF pair is moving in a corrective trend at 0.9296.

Today, data from the labor market for February will be published: the unemployment rate, according to forecasts, will not change and will be 2.2% excluding seasonal fluctuations, and 1.9% S. A. Inflation for the same period increased only by 0.7% from 0.6% earlier, which led to an increase in consumer prices by 3.4% YoY compared to 3.3% in January, and a slowdown in the rate of increase in the indicator without a significant adjustment in monetary policy investors evaluate positively.

Yesterday, the US dollar slipped to 104.100 in the USD Index after a poor industrial orders report showed a 1.6% drop in January after rising 1.7% in December. Economists are waiting for the speech of the head of the US Federal Reserve, Jerome Powell, which may contain information about the prospects for the regulator's monetary policy.

On the daily chart, the trading instrument is correcting, holding above the resistance line of the local downward corridor with dynamic boundaries of 0.9000–0.9250.

Technical indicators are weakening the buy signal: fast EMAs on the Alligator indicator are approaching the signal line, and the AO histogram is forming downward bars in the buying zone.

Resistance levels: 0.9360, 0.9480. | Support levels: 0.9250, 0.9085.

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