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2025-09-16 20:48:52
Strong US Retail Sales Data Pressures the Swiss Franc, But Key Support Remains. ⑴ US retail sales grew 0.6% month-over-month in August, significantly exceeding expectations of a 0.2% increase. July's data was revised upward by 0.1%, demonstrating consumer resilience and boosting the US dollar. Against this backdrop, the USD/CHF exchange rate successfully held above the 0.7900 level, despite hitting an 11-week low of 0.7901 during the session. ⑵ While the strengthening US dollar is putting pressure on the Swiss franc in the short term, key technical support remains. Below 0.7900, key support lies at 0.7873, the 10-year EBS low reached on July 1st. The strength of this level warrants attention. ⑶ The market is closely watching the US Federal Reserve's (Fed) two-day meeting, with a 25 basis point interest rate cut expected on Wednesday. Meanwhile, the Swiss National Bank (SNB) is expected to maintain its zero interest rate policy on September 25th. This divergence in monetary policy is likely to influence the Swiss franc's performance for some time to come.
