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Dec 06 - 07:55 AM

USD/CHF - COMMENT-If Stocks Crash In December, USD/CHF Will Likely Follow

By Martin Miller  —  Dec 06 - 05:40 AM

The Swiss franc usually serves as refuge during market worries and December is typically a month for risk aversion.
USD/CHF has fallen in 15 of the past 22 Decembers, notably the December 2008 drop of 12%, according to EBS prices.

While USD/CHF's trend in December points to a market that has a tendency to fall, seasonal trends should not be considered in isolation, but when combined with other factors they can be a useful tool.

USD/CHF 14-week momentum is negative, reinforcing the overall bearish market structure.
Scope is for eventual losses through the 0.9289 Fibo, a 61.8% retrace of the 0.8759 to 1.0147 (2021-2022) EBS rise.

European shares fell on Tuesday, dragged down by financials and energy stocks, as strong U.S. services activity data spurred fears that the Federal Reserve could stick to its aggressive rate-hike approach.

If risk aversion intensifies, expect funds to flow into the safe-haven franc, that would increase the odds that USD/CHF closes in negative territory this month.

For more click on FXBUZ

Refinitiv IFR Research/Market Commentary


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