CAD/CHF 04/19/23

This article is discussing a drop in Canadian construction jobs, and how it may affect the economy. Specifically, it mentions that the number of construction jobs in Canada has decreased compared to the previous period, and that this could be a bad sign for the economy since construction is an important sector.

The author notes that April will provide a better indication of building activity, but if there is a slowdown in construction, it could have a negative impact on Canada's GDP (Gross Domestic Product). In simpler terms, this article is pointing out that a decline in construction jobs could indicate a slowdown in the construction industry, which could have wider implications for the Canadian economy.

Based on the information provided, it appears that the vice chair of the Swiss National Bank, Schlegel, has commented on Swiss inflation, stating that it is low in international comparison but still too high, and that they cannot rule out further interest rate hikes to bring inflation under control.

In terms of the USDCHF currency pair, it is currently trading below its 200-hour moving average, and testing the 50% midpoint of the move down from last week's high, as well as the 200-hour moving average, which is currently near 0.89895. Earlier today, the price briefly moved above this dual technical level, but could not sustain momentum and rotated back to the downside, retesting the lows for the day and the broken 38.2% retracement at 0.89587.

The USDCHF pair has been trading in a range over the past few days, with up-and-down movements. If the price manages to break above the 200-hour moving average, it would increase the bullish bias and traders may look towards the 0.9000 level, followed by the 61.8% retracement and a downward sloping trendline near 0.90202. On the other hand, if the price stays below the 200-hour moving average, it could keep the sellers in play, with the 38.2% retracement and the rising 100-hour moving average at 0.89455 as the next downside targets.

According to the information provided, the chairman of the Swiss National Bank, Jordan, is now speaking and has commented on the housing market, stating that the risk of a correction exists, and that house prices in Switzerland have risen faster than fundamental factors like incomes. Additionally, Jordan notes that while they expect inflation to decline this year, it is too soon to sound the all clear.

In terms of the USDCHF currency pair, it has dipped slightly and is currently trading at 0.8975 after testing its 200-hour moving average of 0.8987 about 35 minutes ago. It is worth noting that comments from central bankers can often have an impact on currency markets, as they can provide insights into monetary policy and the overall economic outlook.

Conclusion CADCHF @ 0.66683 closed on april21 @ 0.65956