DXY: Range-bound on the day – OCBC

US Dollar (USD) traded subdued overnight as markets await data and Fedspeaks this week. DXY was last at 99.01, OCBC's FX analysts Frances Cheung and Christopher Wong note.

Some consolidation expected in the interim

"Soft labour market report has already swung the probability of Fed cut in Sep to 95% (vs. 40% as of 31 July). Bullish momentum on daily chart shows signs of fading but decline in RSI moderated."

"Some consolidation expected in the interim. Support at 98.30 (21, 50 DMAs), 97.20 levels. Resistance at 100 (100 DMA), 100.50 levels. Focus this week on ISM services data (Tuesday); initial jobless claims (Thursday) and Fedspeaks."

Aug 5, 2025

USD/CHF moves above 0.8100 as US Dollar strengthens ahead of ISM PMI release

USD/CHF continues to gain ground for the second successive session, trading around 0.8110 during the European hours on Tuesday. The pair remains stronger as the US Dollar (USD) advances ahead of the release of US ISM Purchasing Managers Index (PMI) data due later in the day.

CHF: Praying for a last minute deal – ING

Switzerland is very much preoccupied with the 39% US tariffs due to come into force later this week. The Swiss government is already discussing short-time worker compensation in the event of layoffs - clearly preparing for the worst, ING's FX analyst Chris Turner notes.