The 20-day SMA is about to perform a bearish cross with the 200-day SMA.
Several Fed officials were on the wires but didn’t provide any highlights. Powell speaks on Wednesday.
The USD/CHF accelerated its gains on Tuesday's session and rose to the 0.9015 zone, with a strong US dollar and a negative market mood contributing to the pair's movements.
As the bears took a breather, the USD/CHF managed to gain additional momentum while there were no highlights during the session. Neel Kashkari, Austan Goolsbee and Michael Barr from the Federal Reserve (Fed) spoke on Tuesday but didn’t provide markets with any new guidance. They were seen as somewhat cautious, welcoming the latest positive inflation figures and still attaching themselves to a data-dependency approach. Chair Powell will speak on Wednesday, where investors will look for further clues on what the Fed will decide in its last meeting of 2023.
As for now, the CME FedWatch tool indicates that the odds of a 25 basis point hike for the December meeting are still low. Next week, the US will report October Consumer Price Index (CPI) data, which will likely make those expectations move based on its outcome.
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