Solid Gold Berjangka – The USD/CHF pair held steady around 0.8280 during Thursday’s Asian trading session (October 29), having pared back some of its earlier daily gains. The US dollar lost some momentum after the Federal Reserve maintained interest rates in the 3.75%–4.00% range and offered limited guidance regarding its next policy move.
The Fed assessed that US economic activity continues to expand, supported by resilient domestic spending, robust capital investment, and productivity growth. The labor market is also considered relatively stable, with job growth keeping pace with the expansion of the labor force and the unemployment rate remaining largely unchanged.
Although inflationary pressures remain high, the Fed opted to pause interest rate hikes to gather more data before deciding on its next course of action. The decision was not unanimous, as Lisa Cook and Beth Hammack favored an immediate rate hike. Fed Chair Kevin Warsh reaffirmed the central bank’s commitment to returning inflation to its 2% target.
In Switzerland, investor sentiment weakened sharply, with the ZEW Expectations index falling to -15.3 in October from 2.6 in September. This decline marks the largest drop since March 2026, placing additional pressure on the Swiss franc.
From a technical perspective, momentum for USD/CHF has begun to strengthen following the pair’s breakout above the 0.8290 area. The next resistance level lies near 0.8320, though the potential for sustained gains beyond this point remains limited. Meanwhile, the 0.8250 area serves as a key support level that must hold to maintain the dollar’s upward momentum. (srh)