Dashboard

Solid News

Swiss Labor Market Data Provided Local Support to the Franc

12/9/2022 12:53 PM

Due to the continued decline in the US currency, the USD/CHF pair is trading in a corrective trend around 0.9340.

The downward dynamics of the asset are developing against the backdrop of political changes in the leadership of Switzerland: the two chambers of the Federal Assembly have elected a new president of the country, which is the current Minister of the Interior Alain Berset, who will take office on January 1, 2023, and will act for 12 months. Experts do not predict fundamental changes in the current political system since the position of the president in the country is more nominal, and the Federal Council makes the main decisions. In terms of local dynamics, investors welcomed the data on the labor market, which reflected a decrease in the unemployment rate, seasonally adjusted to 2.0% from 2.1% earlier: at the end of November, 91,327K unemployed were registered, which is higher than 1,691K a month earlier, which is a seasonal factor that does not affect the indicator.

The US dollar fell to 104.500 in the USD Index against another increase in the total jobless claims, which rose this week to 1.671M from 1.609M a week earlier, facilitated by an increase in initial jobless claims to 230.0K from 226.0K.


On the daily chart of the asset, the trading instrument continued its global decline and broke the previous low at 0.9410.

Technical indicators keep a strong sell signal: fast EMAs on the Alligator indicator are significantly below the signal line, and the AO oscillator histogram forms corrective bars in the sell zone.

Resistance levels: 0.9410, 0.9580. | Support levels: 0.9270, 0.9110.

Find Us
Registered Address : Bonovo Road – Fomboni Island of Mohéli – Comoros Union
Sofia, PO Box 1407,14 Flip Kutev Str. Floor 2, Industrial area Hladilnika, Bulgaria
Mail Us
[email protected]
Call Us
+35 924 928 392


Risk Warnings
Solid ECN Securities LLC offers trading on Foreign Exchange (‘Forex’ or ‘FX’) and Contracts for Difference (‘CFDs’), which are complex financial products that are traded on margin. They carry a high level of risk since leverage can work both to your advantage and disadvantage. As a result, these products may not be suitable for all investors, as loss of all invested capital may occur. You should not risk more than you are prepared to lose. Before deciding to trade, you need to ensure that you understand the risks involved and consider your investment objectives and level of experience. Seek independent advice, if necessary.
Solid ECN Securities LLC does not issue advice, recommendations or opinions in relation to acquiring, holding or disposing of a CFD. Solid ECN Securities LLC is not a financial advisor and all services are provided on an execution-only basis. This communication is not an offer or solicitation to enter into a transaction and shall not be construed as such.
This website is not directed at any jurisdiction and is not intended for any use that would be contrary to local law or regulation.
By using solidecn.com you agree to use our cookies to enhance your experience.
Solid ECN Securities LLC is authorized and regulated by the Comoros Union with reference number HY00623411.
Disclaimer 1: The information provided on this site is not intended for residents of any country or jurisdiction where its distribution or use would violate local laws or regulations.
Disclaimer 2: Solid ECN Securities LLC and it affiliates does not provide services to residents of the USA, Japan, Canada, Australia, the Democratic Republic of Korea, European Union, United Kingdom, Iran, Syria, Sudan and Cuba.
Copyright All Right Reserved 2024 SolidECN.com