SNB Chairman Thomas Jordan, who is set to step down at the end of September, highlighted the challenges facing Swiss industry due to the recent strength of the Swiss Franc and weak demand in Europe. Speaking at an event overnight, Jordan emphasized the difficulties these factors pose for Swiss industrial goods, particularly given that Germany […]
The post SNB’s Jordan: Strong Franc and weak European demand squeeze Swiss industry appeared first on Action Forex.
Daily Pivots: (S1) 1.3918; (P) 1.3943; (R1) 1.3969; More… USD/CAD breached 1.3958 briefly but upside is capped below 1.3976 key resistance. Intraday bias stays neutral first. Further rise is is expected as long as 1.3822 Read more…
The financial markets are intently focused today on US inflation data. Expectations are that both the headline CPI and core CPI remained unchanged in October from the previous month’s readings of 2.4% and 3.3%, respectively. Read more…
Key Highlights Gold started a sharp downside correction below the $2,665 support. A connecting bearish trend line is forming with resistance at $2,670 on the 4-hour chart. Bitcoin traded to a new high at $89,998 Read more…