2016-11-22 11:15:44

Surplus of trade balance in Switzerland fell by 1.696 billion Swiss francs to 2.678 billion francs in October against 4.374 billion in September. Exports from the country have decreased, while imports have grown by 0.71 billion francs. The franc has hardly reacted to this data.

The rise in the USD affects movement in the pair USD/CHF. After the corrective decline on Monday, the dollar is growing again since the beginning of the European session on Tuesday. Until yesterday, the USD has been rising for 10 consecutive sessions since the US presidential election on 8 November, which was the longest rise since May 2012. Investors took profits after the longest rise in the American currency in over four years.

Now, investors are waiting for plans of a new President to expand budget spending and cut taxes, which will support economic growth in the United States. Investors are confident that the Fed will raise interest rate next month, which will also support the USD. Interest rate decision will be taken at the Fed meeting, scheduled for 13-14 December.

According to CME Group, futures for the Fed’s rate show 95% probability of the rate hike in December.

Next meeting of the SNB will be held on December 15, immediately after the two-day meeting of the Fed on 13-14 December.

Today’s news will include: in the period from 16:55 to 18:00 (GMT+3): the data on sales in the US secondary housing market in October, Fed Richmond index of business activity in manufacturing sector in November.

Positive indicators will add upward momentum to the USD, which has already grown in the early European session.USD/CHF: USD continues to rise.  Fundamental analysis for 22/11/2016