USD/CHF gains above 0.9050 as risk appetite improves, Swiss data eyed

• USD/CHF consolidates on Monday after falling consecutively in the previous week.
• US Dollar Index rebounds above 92.00.
• The Swiss franc remains in demand amid market uncertainty on its safe-haven appeal.

After falling above 0.9200 in the previous week, the USD/CHF pair prints minor gains on the fresh trading day of the week in initial Asian trading hours. The pair confides in a 10 pips movement ahead of the critical fundamental data.

At the time of writing, USD/CHF is trading at 0.9059, up 0.05% for the day.

The US dollar index trades at 92.09, with 0.24% gains in the Asia-pacific timings. The greenback valuation continues to influence the pair’s performance in the previous week and at the beginning of the fresh week.

The upbeat economic data added to the attractiveness of the USD. US Personal Income edged 0.1% in June, beating the market expectations of a 0.3% fall, whereas the Personal Consumption jumped 1% in June, as compared to the market consensus of 0.7% increase.

Fed’s favourite measure of inflation, the US Personal Consumption Expenditure (PCE) Index jumped 0.4% in June, below the market expectations of 0.6% rise.

It is worth noting that S&P Futures were trading at 4,406 with 0.39% gains.

On the other hand, the Swiss franc remained on the back foot on the downbeat economic data.

The Swiss KOF Index fell to 129.8 in July, in line with the market forecasts of 130.0. The Investor Morale Sentiment Index edged lower by 8,5 points in the previous month to 42.8 in July.

As for now, traders are waiting for the US Purchase Manager Index PMI data and Swiss Retail Sales data to gauge the market sentiment.

USD/CHF additional levels