The legend in the InstaSpot team!
Legend! You think that's bombastic rhetoric? But how should we call a man, who became the first Asian to win the junior world chess championship at 18 and who became the first Indian Grandmaster at 19? That was the start of a hard path to the World Champion title for Viswanathan Anand, the man who became a part of history of chess forever. Now one more legend in the InstaSpot team!
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On Wednesday, the USD/CHF pair continued its decline. The US dollar is under pressure from a more favorable market environment for risk assets.
The fall in the exchange rate is associated with increasing optimism regarding a possible agreement between the United States and Iran. According to Axios, Washington and Tehran are close to signing a memorandum of understanding that will serve as a basis for future discussions on the nuclear program. This sentiment reduces interest in safe-haven assets, among which the US dollar traditionally belongs.
US Secretary of Defense Pete Hegseth stated that the ceasefire established nearly a month ago remains in effect, while Secretary of State Marco Rubio reported that US offensive operations have concluded. President Donald Trump also announced a temporary suspension of escort operations for vessels in the Strait of Hormuz to assess the chances of reaching an agreement with Iran.
However, on Wednesday, Trump cautioned: "If Iran does not agree to a deal, bombing will resume, and at a significantly higher level," which limited further improvement in market sentiment.
Regarding macroeconomic data, the ADP report showed that the US private sector added 109,000 jobs in April, surpassing market expectations of 99,000. Despite actual data being stronger than forecasts, the US dollar remains under pressure amid rising investor appetite for risk assets.
In Switzerland, data showed that annual inflation in April accelerated to 0.6% from 0.3% in March, slightly exceeding the SNB's annual forecast of 0.5%. The main driver of inflation was the rise in energy prices, triggered by current tensions in the Middle East.
From a technical perspective, the recent price drop below the 100-day SMA is favorable for bears. Prices found support at 0.7770 but did not hold it; the next support may be at 0.7745. Oscillators are negative, indicating an advantage for bears. The table below shows the percentage change of the US dollar against major currencies listed on Wednesday. The most notable change is the strengthening of the dollar against the Canadian dollar.
*এখানে পোস্ট করা মার্কেট বিশ্লেষণ আপনার সচেতনতা বৃদ্ধির জন্য প্রদান করা হয়, ট্রেড করার নির্দেশনা প্রদানের জন্য প্রদান করা হয় না।
ইন্সটাফরেক্স বিশ্লেষণমূলক পর্যালোচনাগুলো আপনাকে মার্কেট প্রবণতা সম্পর্কে পুরোপুরি সচেতন করবে! ইন্সটাফরেক্সের একজন গ্রাহক হওয়ায়, দক্ষ ট্রেডিং এর জন্য আপনাকে অনেক সেবা বিনামূল্যে প্রদান করা হয়।
