11 Aug 2020 03:18
Closing price, the previous day.
The highest price over the last trading day.
The lowest price over the last trading day
Price range high in the last 52 weeks
Price range low in the last 52 weeks
The USD/CHF is very popular currency pair on the Forex market, which is heavily dependent on the economic situation in the USA. That is why a trader should primarily focus on the economic indicators of the United States of America.
Switzerland is a highly developed and rich country. The country’s production is entirely export-oriented. However, Switzerland has the most progressive banking and insurance sectors of its economy. UBS and Credit Suisse are the major banks in Switzerland, which are among the largest banks in the world.
The Swiss economy remains strong for several centuries. For this reason, its national currency enjoys a great confidence all over the world as one of the most reliable and stable currencies. The Swiss franc is also a safe haven for capital investment during the crisis. Therefore, in times of crisis, when capital is urgently forwarded to Switzerland, the Swiss franc rises sharply against other currencies. This feature of Swiss economy should be taken into account when you trade this financial asset.
There are few reports on the state of the Swiss economy released for public, among them the minutes of the the Swiss National Bank’s board meeting. However, information about the state of the Swiss economy is rarely publicized. Therefore, any information concerning the economic situation in Switzerland attracts a lot of attention of traders around the world.
The country has long-standing tradition of bank secrecy. Swiss bankers have a code of secrecy regarding banking and their account holders. This feature enables clients to evade taxes imposed by their countries. The secret privacy banking law is a matter of concern for many European governments. The European Union repeatedly exerted pressure on Switzerland to make its banking system more transparent. However, it still has not succeeded.
The thing that can pull down the value of the Swiss franc is lower exports of Switzerland to Western Europe.
The USD/CHF is one of the predictable currency pairs. Relatively low volatility makes it impossible to gain high profit. This currency pair is distinguished by an increased sensitivity to changes on global stock markets. When trading the Swiss franc, you should consider a low interest rate of the SNB, rare intervention and similarity of the USD/CHF price chart with the EUR/USD and GBP/USD charts.