CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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Waiting on a CHF breakout

Article By: ,  Financial Analyst
September 11, 2020 4:52 PM
Here is a review of the week's economic data:  

The Consumer Price Index rose 0.4% on month in August (+0.3% expected), compared to +0.6% in July. 

The Monthly Budget Deficit jumped to 200.1 billion dollars on month in August (242.7 billion dollars expected), from 63.0 billion dollars in July. 

The Producer Price Index Final Demand increased 0.3% on month in August (+0.2% expected), compared to +0.6% in July. 

Initial Jobless Claims remained at 884K for the week ending September 5th (850K expected), in line with a revised reading from the week before. Continuing Claims unexpectedly rose to 13,385K for the week ending August 29th (12,904K expected), from a revised 13,292K a week earlier. 

Wholesale Inventories declined 0.3% on month in the July final reading (-0.1% expected), compared to -0.1% in the July preliminary reading. 

The Mortgage Bankers Association's Mortgage Applications rose 2.9% for the week ending September 4th, compared to -2.0% in the prior week. US Job Openings increased to 6.618 million on month in July (6.000 million expected), from a revised 6.001 million in June. 

The NZD, CAD and GBP had the largest percentage move over the last week against the USD 

The CHF was this week's leader against the USD showing a 0.44% gain against the greenback. The GBP and CAD were the week's biggest losers at -0.94% and -3.59% respectively. 

Looking at the chart, The USD/CHF pair remains in a holding pattern just below its 50-day moving average between 0.91875 resistance and 0.899 support. A breakout is favored to the downside continuing the prior trend. 



Source: GAIN Capital, TradingView

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