News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
More View more
USD/CHF Below 0.9600 As CHF Unemployment Rate Matched Estimates

USD/CHF Below 0.9600 As CHF Unemployment Rate Matched Estimates

Edward Hyon,

Talking Points:

  • Switzerland Unemployment Rate (Sep): 3.0% actual vs 3.0% estimated; 3.0% prior.
  • Switzerland Unemployment Rate SA (Sep): 3.2% actual vs 3.2% estimated; 3.2% prior.
  • USD/CHF Remained Relatively Muted After The Release of the Unemployment Rate.

Want to trade with proprietary strategies developed by FXCM? Find out how here.

Switzerland Unemployment Rate came in at 3.0 percent in September versus 3.0 percent in August. Meanwhile, the seasonally-adjusted unemployment rate for the month of September came in 3.2 percent, no change compared to the previous month. Both figures matched market expectations, which resulted in USD/CHF to overlook the economic release. The US Dollar continued to trade below 0.9600 against the Swiss Franc.

Progressing ahead, the attention will turn to the FOMC Minutes from the September 16-17 FOMC Meeting, which will be released at 18:00 GMT, later today. The FOMC Committee has upgraded their interest rate forecasts in the September quarterly meeting, visually seen through the FOMC’s ‘dot plot’, which built firmer expectations for policy normalization in the US. Chief Currency Strategist John Kicklighter says the current momentum for the US Dollar presents a risk going forward as its pace doesn’t match the development of its fundamental backdrop.

From a technical perspective, DailyFX Currency Strategist Ilya Spivak mentions near-term support to rest at 0.9530 (23.6 percent Fibonacci Retracement) and resistance at 0.9689 (October 6 high). He is currently long USD/CHF at 0.9068. Meanwhile according to DailyFX Speculative Sentiment Index, the ratio of long to short positions in the USD/CHF stands at 1.18 as 54 percent of traders are long.

USD/CHF 5 Minute Chart

USD/CHF Below 0.9600 As CHF Unemployment Rate Matched Estimates

Daily Chart - Created Using FXCM Marketscope 2.0, Volume Indicator Available Here


Edward Hyon, DailyFX Research Team

Keep up to date on event risk with DailyFX Calendar

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.