Daily Market Analysis By FXOpen

[Resolve]

USD/CHF Rebounds from Yearly Lows

The USD/CHF pair tested its yearly low slightly below 0.84100 yesterday but has since recovered to just above 0.84800 today.

The bullish sentiment was supported by positive news about the U.S. economy—data released yesterday showed GDP growth for the second quarter at 3.0%, surpassing the expected 2.8%.

Bulls may find further encouragement from events earlier this year when the head of the Swiss National Bank (SNB) warned that an excessively strong franc could pressure the country's economy. Following this, USD/CHF rose by more than 8% over four months.

TO VIEW THE FULL ANALYSIS, VISIT THE FXOPEN BLOG

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.

 

[Resolve]

Watch FXOpen's 26 - 30 August Weekly Market Wrap Video

Weekly Market Wrap With Gary Thomson: EUR/USD, NASDAQ 100, NVIDIA, Gold and Oil

Get the latest scoop on the week's hottest headlines, all in one convenient video. Join Gary Thomson, the COO of FXOpen UK, as he breaks down the most significant news reports and shares his expert insights.

• EUR/USD falls below 1.11 support
• NASDAQ 100 consolidates ahead of NVIDIA report
• NVIDIA (NVDA) shares fall despite strong earnings
• Market analysis: Gold and Oil prices signal more upsides

Stay in the know and empower yourself with our short, yet power-packed video.

Watch it now and stay updated with FXOpen.

Don't miss out on this invaluable opportunity to sharpen your trading skills and make informed decisions.



FXOpen YouTube


Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.

RISK WARNING: Trading on the Forex market involves substantial risks, including complete possible loss of funds and other losses and is not suitable for all members. Clients should make an independent judgement as to whether trading is appropriate for them in the light of their financial condition, investment experience, risk tolerance and other factors.

#fxopen #fxopenyoutube #fxopenint #weeklyvideo