![](\"https:\/\/www.financialmirror.com\/wp-content\/uploads\/2024\/04\/CHF_Banknotes.jpg\")
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The USDCHF pair rallied to 0.9070 in early European trading on Thursday, with the Swiss Franc strengthening as softer-than-expected Consumer Price Index (CPI) data for March boosted expectations of one more interest rate cut.<\/p>\n
Among developed economies, the Swiss National Bank has led the rate-cut cycle after reducing interest rates by 25 basis points to 1.5% in the monetary policy meeting on March 21.<\/p>\n
The Federal Statistical Office of Switzerland reported that the monthly consumer price inflation remains stagnant while investors anticipated an increase of 0.3%. In February, price pressures rose by 0.6%.<\/p>\n
Annually, inflationary pressures surprisingly grew at a slower pace of 1.0%. Economists expected the consumer price inflation to grow at a higher pace of 1.3% after rising 1.2% in February.<\/p>\n
Meanwhile, the Dollar extended its downside as weak U.S. Services PMI for March dented the economic outlook. The US Dollar Index (DXY), which tracks the greenback\u2019s value against six major currencies, fell to 104.12.<\/p>\n
The Institute of Supply Management (ISM) reported that the Services PMI fell to 51.4 from expectations of 52.7 and the former reading of 52.6. Also, subindexes such as New Orders and Prices Paid eased significantly.<\/p>\n
Going forward, investors will focus on the U.S. nonfarm payrolls (NFP) for March, which will be published on Friday. U.S. employers are anticipated to have recruited 200,000 workers, lower than the former reading of 275,000.<\/p>\n
(Source: OANDA)<\/p>\n","protected":false},"excerpt":{"rendered":"
The Swiss Franc strengthened as softer-than-expected Consumer Price Index (CPI) data for March boosted expectations of one more interest rate cut by the Swiss National Bank.<\/p>\n","protected":false},"author":4,"featured_media":6861,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"Default","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[1521,1902,4868,1041,2369,260,2620,2621,1632,4818,2515,372,1823,67,899,374,2975,1401,3404,54,34,1346,1253,55,4593,4833,2089,1033,375,1806,4997,4995,2976,4996,380,1124,57,18],"class_list":["post-6860","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-other","tag-1521","tag-bank","tag-consumer-price-index","tag-consumer-price-index-cpi","tag-data","tag-dollar","tag-dollar-index","tag-dxy","tag-early-european-trading","tag-expectations","tag-february","tag-fed-rates","tag-increase","tag-inflation","tag-interest","tag-interest-rate","tag-interest-rate-cut","tag-interest-rates","tag-investors","tag-marketpulse","tag-markets","tag-meeting","tag-nonfarm-payrolls","tag-oanda","tag-office","tag-policy","tag-price-pressures","tag-prices","tag-rate-cut","tag-services","tag-swiss-franc","tag-swiss-franc-chf","tag-swiss-national-bank","tag-swiss-national-bank-snb","tag-us","tag-us-dollar","tag-us-fed","tag-world"],"acf":{"keyphrase":"","keywords":"","sourceimg":"","country-category":""},"yoast_head":"\n