The US dollar against the Swiss franc is losing value as traders are waiting for the release of the US third-quarter GDP data, which is expected on Tuesday.
Fed's Hammack stated that the policy is ready to stop and check how the 75-basis-point rate cuts have affected things.
Traders are waiting for Tuesday's Swiss ZEW Expectations survey to get hints about the business situation and more information on what the SNB might do with interest rates.
The USD/CHF pair gives up some of its recent gains from the previous day, trading near 0.7940 during Asian session on Monday. The pair falls as the US Dollar faces challenges ahead of Tuesday's release of the US third-quarter Gross Domestic Product Annualized rate.
The US Dollar (USD) might start to recover because people are being careful about what the Federal Reserve (Fed) might do next. On Sunday, Beth Hammack, a leader at the Federal Reserve Bank of Cleveland, said that the monetary policy is in a good place to take a break and check how the 75-basis-point rate cuts affected the economy during the first quarter, as reported by Bloomberg.
The CME FedWatch tool shows a 79.0% chance that the Fed will keep rates the same at their January meeting, which is higher than the 75.6% from a week ago. At the same time, the chance of a 25-basis-point rate cut has dropped to 21.0%, down from 24.4% a week earlier.
Last week, US President Donald Trump said the next leader of the Federal Reserve will believe in much lower interest rates. At the same time, Fed Governor Christopher Waller, who is being considered for the position, said, "Since inflation is still high, we don't need to rush. We can slowly lower the interest rate to a normal level."
Traders are expected to watch the Swiss ZEW Expectations survey for December, which comes out on Tuesday, to get new insights into business and job conditions. They will also be looking for more information about what the Swiss National Bank might do with interest rates. However, going back to negative interest rates is thought to be probably not happening, because it could hurt people who save money and those who manage pensions.
Fed's Hammack stated that the policy is ready to stop and check how the 75-basis-point rate cuts have affected things.
Traders are waiting for Tuesday's Swiss ZEW Expectations survey to get hints about the business situation and more information on what the SNB might do with interest rates.
The USD/CHF pair gives up some of its recent gains from the previous day, trading near 0.7940 during Asian session on Monday. The pair falls as the US Dollar faces challenges ahead of Tuesday's release of the US third-quarter Gross Domestic Product Annualized rate.
The US Dollar (USD) might start to recover because people are being careful about what the Federal Reserve (Fed) might do next. On Sunday, Beth Hammack, a leader at the Federal Reserve Bank of Cleveland, said that the monetary policy is in a good place to take a break and check how the 75-basis-point rate cuts affected the economy during the first quarter, as reported by Bloomberg.
The CME FedWatch tool shows a 79.0% chance that the Fed will keep rates the same at their January meeting, which is higher than the 75.6% from a week ago. At the same time, the chance of a 25-basis-point rate cut has dropped to 21.0%, down from 24.4% a week earlier.
Last week, US President Donald Trump said the next leader of the Federal Reserve will believe in much lower interest rates. At the same time, Fed Governor Christopher Waller, who is being considered for the position, said, "Since inflation is still high, we don't need to rush. We can slowly lower the interest rate to a normal level."
Traders are expected to watch the Swiss ZEW Expectations survey for December, which comes out on Tuesday, to get new insights into business and job conditions. They will also be looking for more information about what the Swiss National Bank might do with interest rates. However, going back to negative interest rates is thought to be probably not happening, because it could hurt people who save money and those who manage pensions.
