- USD/CHF trades mildly lower to near 0.7910 as the US Dollar corrects further.
- Weak US ISM Manufacturing PMI data for December came out as a major drag on the US Dollar.
- Investors await the Swiss CPI and the US NFP data for December.
The USD/CHF pair edges lower to near 0.7910 during the Asian trading session on Tuesday. The Swiss Franc pair faces mild selling pressure as the US Dollar (USD) extends its correction, following a pullback on Monday.
As of writing, the US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, trades 0.12% to near 98.20. The DXY posted a fresh over-three-week-high at 98.86 on Monday as its safe-haven demand increased after Washington captured Venezuelan President Nicolas Maduro over drug-trafficking charges.
US Dollar Price Today
The table below shows the percentage change of US Dollar (USD) against listed major currencies today. US Dollar was the weakest against the New Zealand Dollar.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.08% | -0.09% | 0.03% | 0.00% | -0.14% | -0.18% | -0.05% | |
| EUR | 0.08% | -0.01% | 0.11% | 0.09% | -0.06% | -0.10% | 0.04% | |
| GBP | 0.09% | 0.01% | 0.13% | 0.10% | -0.04% | -0.09% | 0.04% | |
| JPY | -0.03% | -0.11% | -0.13% | -0.00% | -0.15% | -0.20% | -0.07% | |
| CAD | -0.01% | -0.09% | -0.10% | 0.00% | -0.15% | -0.20% | -0.07% | |
| AUD | 0.14% | 0.06% | 0.04% | 0.15% | 0.15% | -0.04% | 0.08% | |
| NZD | 0.18% | 0.10% | 0.09% | 0.20% | 0.20% | 0.04% | 0.12% | |
| CHF | 0.05% | -0.04% | -0.04% | 0.07% | 0.07% | -0.08% | -0.12% |
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the US Dollar from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent USD (base)/JPY (quote).
The US Dollar has come under pressure amid a lack of supportive fundamentals on the domestic side. The US ISM Manufacturing PMI data, released on Monday, showed that the factory activity contracted again. The Manufacturing PMI came in at lower at 47.9 from 48.2 in November.
Investors brace for more volatility in the US Dollar with the US Nonfarm Payrolls (NFP) data due for release on Friday. The US official employment data will significantly influence market expectations for the Federal Reserve’s (Fed) monetary policy outlook, as almost every policymaker has warned of downside labor market risks.
Before the US NFP data, investors will focus on the ADP Employment Change and the ISM Services PMI data for December, and the JOLTS Job Openings data for November, which will be published on Wednesday.
Meanwhile, the Swiss Franc (CHF) trades broadly calm ahead of the Consumer Price Index (CPI) data for December, which will be released on Thursday. The inflation data will influence the Swiss National Bank’s (SNB) monetary policy expectations.
