- USD/CHF climbs to near 0.7985 in Thursday’s early European session.
- Trump said the US’s war objectives are nearing completion and threatening to hit Iran hard over the next two to three weeks.
- The Swiss March CPI inflation data will be released on Thursday.
The USD/CHF pair jumps to around 0.7985 during the early European session on Thursday. The Greenback strengthens against the Swiss Franc (CHF) following an address to the nation by US President Donald Trump. Traders will keep an eye on the Swiss March Consumer Price Index (CPI) data, which is due later on Thursday.
Trump said during a primetime televised speech from the White House on Thursday that his core “objectives are nearing completion” in Iran and expected another two or three weeks of involvement. Nonetheless, he signaled that the US is prepared to intensify its military response in the remaining time period and threatened to bring Iran “back to the stone ages.” Persistent tensions between the US and Iran could underpin the US Dollar (USD) in the near term.
The Swiss Federal Statistical Office will publish its inflation data on Thursday. The monthly and annual CPI are expected to show a rise of 0.5% for March. The persistent low inflation has led the Swiss National Bank (SNB) to maintain a cautious stance.
Traders will shift their attention to the US jobs data on Friday. Markets expect the Nonfarm Payrolls (NFP) to show 60,000 in March, while the Unemployment Rate is projected to hold steady at 4.4% during the same period. If the reports show weaker-than-expected outcomes, this could undermine the USD against the CHF.
