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On May 9, the Zug Cantonal Court of Switzerland said in a statement that on May 9, 2025, the Zug Cantonal Court of Switzerland approved the settlement agreement signed by Nord Stream 2 AG, the operator of the Nord Stream 2 natural gas pipeline, and its creditors on April 30, 2025. The statement said they could appeal the decision on the settlement agreement. Since the decision of May 9, 2025 has not yet come into effect, the state court did not provide any additional information on the suspension of the restructuring of the debt of Nord Stream 2 AG. The Nord Stream 2 offshore natural gas pipeline can transport 55 billion cubic meters of natural gas per year, but the German authorities previously stopped the certification process for the natural gas pipeline, and the United States included the Nord Stream 2 project company on the sanctions list. One of the pipelines was damaged in a strong explosion in 2022. In early 2025, the Danish Energy Agency approved the Swiss subsidiary of Gazprom, Nord Stream 2 AG, to maintain the natural gas pipeline.On May 9, Hongmeng Intelligent Driving released its April Intelligent Driving Assistance Report. The report shows that Hongmeng Intelligent Drivings total mileage in April exceeded 264 million kilometers, the user activity rate reached 88.62%, the average intelligent driving assistance mileage per user reached 561.65 kilometers, and a total of 16.254 million times of intelligent assisted parking were used.Bank of England Governor Andrew Bailey said on May 9 that the trade deal reached between the United States and the United Kingdom on Thursday was a good thing, but tariffs on most British exports to the United States are still higher than they were before last month. "In a world where actual tax rates will be higher than before all this started, this is good news," he said during a question-and-answer session at an economic conference in Reykjavik. Bailey also reiterated that the British economy is highly affected by the global economy and depends largely on the agreements reached by other countries with the United States. Baileys remarks were similar to his remarks at a press conference yesterday, when a deal seemed to be about to be reached but the details had not yet been announced.European Commission President Ursula von der Leyen: Before the summer, we expect a major boost to the capital markets.Sources: In trade negotiations, India has asked the United States to waive all current and future tariffs. India has proposed to reduce the tariff gap with the United States from nearly 13% to less than 4% under a potential trade deal.

USD/CHF has bottomed out and rebounded above the 0.93 mark, but it will continue to rise in the future

Oct 26, 2021 11:02

On Tuesday (October 12), the US dollar against the Swiss franc attracted some low-level buying near 0.9255 and rose to near 0.93 as the US dollar rebounded vigorously.


The strong rebound of U.S. stock index futures weakened the safe-haven Swiss franc and was seen as an important factor in promoting the exchange rate of the dollar against the Swiss franc. In addition, the shadow of the Federal Reserve’s reduction in debt purchases in November has lingered. Drive the exchange rate to strengthen rapidly.

At the same time, the weak tone surrounding US Treasury yields failed to affect the positive trend of the dollar.

Although the overall performance of non-agricultural employment data last Friday was weak, investors still believe that the Fed will still start to reduce bond purchases before the end of 2021. Fearing that the recent surge in energy prices will trigger inflation, the market is also beginning to digest the possibility of interest rate hikes in 2022.

Therefore, the focus of the market now turns to the US consumer inflation data released on Wednesday, followed by the FOMC meeting minutes. In addition, the monthly retail sales data in the United States to be announced on Friday will affect the dollar price dynamics and provide a new direction for the exchange rate of the dollar against the Swiss franc.

At the same time, traders may look for clues from the JOLTS job vacancy data released on Tuesday to provide some impetus to the North American market in early trading. This, coupled with the scheduled speech of Fed Vice Chairman Clarida and broader market risk sentiment, may bring short-term trading opportunities for the US dollar against the Swiss franc.

In addition, the IMF’s "World Economic Outlook" lowered the global growth rate forecast for 2021 from 6.0% in July to 5.9%, and maintained the growth rate forecast for 2022 at 4.9%, showing that the world economy in the next few months will have Deteriorating trend.

"However, overall minor adjustments have concealed substantial downward revisions in some countries," the IMF wrote in the report. "Due to the worsening of the epidemic situation, the prospects of low-income developing countries have dimmed a lot. This reduction also has Reflecting that the near-term prospects of the group of economies have become more difficult, partly due to supply chain disruptions."

Given the uncertainty caused by the virus and the delay in the recovery of the supply chain, the safe-haven dollar will also play an increasingly important role, which will have a profound impact on future exchange rate trends.

From a technical point of view, the currency pair has been oscillating within a familiar narrow trading range for the past week or so. This forms a rectangle on the short-term chart, indicating that traders are hesitant about the short-term trajectory of USD/CHF. This, in turn, proves to be more cautious before making big bets.

Judging from the current overall situation, the US dollar against the Swiss franc is still on the upside.

The upper resistance pays attention to 0.9333, 0.9369, 0.9400, and the lower support pays attention to 0.9276, 0.9230, 0.9208.

(Daily chart of USD/CHF)

GMT+8 22:28, USD/CHF reported 0.9303.

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