USDCHF on Friday dropped -0.02% to 0.89791. Week ending 2025-02-21 moved lower by -0.21%. What happened.

USDCHF Analysis

Performance
Period	Pct	Chg	Momentum
Friday	-0.02%	-1.5 Pips
Week 2025-02-21	-0.21%	-19.2 Pips
February	-1.26%	-114.6 Pips

Upcoming key events for the new week (London Time)

Thu 08:00 AM GDP (seasonally adjusted) (3-mth)
Thu 01:30 PM GDP annual rate
Fri 01:30 PM PCE Price Index, excluding food and energy (12-mth)

What happened over the week

In the United States, several key economic indicators have shown mixed results. The University of Michigan reported an increase in the Index of Consumer Expectations to 3.5% in January from 3.3% in December, signaling improved future outlooks among consumers. However, the Index of Consumer Sentiment fell to 64.7 points from 67.8 points in the same period, reflecting a decline in overall consumer confidence. The Department of Labor noted an increase in Initial Unemployment Claims to 219K, up from the previous 213K, suggesting a slight softening in the job market. The Philadelphia Fed reported a significant drop in the Manufacturing Business Outlook Survey to 18.1 points in February from 44.3 points in January, indicating weakened manufacturing growth. On a positive note, the New York Fed revealed an increase in the Empire State Manufacturing Index for February to 5.7 from -12.6 in January, showcasing an improvement in manufacturing conditions.

In terms of housing, the U.S. Census Bureau reported a marginal increase in Building Permits in January to 1.483 million from a revised December figure of 1.482 million, indicating stable construction activity. However, Housing Starts dropped to 1.366 million in January from a revised 1.515 million in December, pointing to a slowdown in new residential construction projects.

Switzerland experienced a decline in industrial production growth in the fourth quarter, with output in the secondary sector decreasing to 2.3% year-on-year from 3.5% in the previous quarter, as reported by the Federal Statistical Office. This indicates a slowing industrial sector which may impact overall economic performance.

The USDCHF currency pair faced downward pressure, dropping by 0.02% to 0.89791, reaching a three-week low. The mixed economic data from the U.S., including weaker consumer sentiment and manufacturing surveys, combined with Switzerland’s slowing industrial production, may contribute to the volatility of the pair. The upcoming releases of U.S. GDP and the PCE Price Index, alongside Switzerland’s GDP figures, could further influence the direction of USDCHF by providing additional insights into the relative economic strength of the two economies. Investors may focus on these high-impact data releases to gauge future monetary policy directions and economic momentum.

From X (Twitter)

The number of employed persons rose by 0.6% and the unemployment rate (ILO) rose to 4.4% in the 4th quarter 2024 #statistics https://t.co/lBLfKh0Nka

— BFS | OFS | UST | FSO (@StatDataCH) February 20, 2025

What can we expect from USDCHF for the new week and what happened on Friday?

USDCHF on Friday dropped -0.02% to 0.90. Price is below 9-Day EMA while Stochastic is falling. For the week ending 2025-02-21, the pair dropped -0.21% or -19.2 pips lower.

Looking ahead, USDCHF looks mixed as the pair is likely to consolidate above week low of 0.90.

For the new week, our technical outlook is mixed. To see upside interest, we prefer to look at price breakout of week high of 0.91 or at least consolidates above Weekly Pivot level of 0.90. On the downside, we are looking at week low 0.90 or 0.89 (WS1) as immediate support level. USDCHF need to break on either side to indicate a short-term bias. A close below week low of 0.90 would indicate selling pressure.

For the month of February, USDCHF is down by -1.26% or -114.6 pips lower.

Weekly key levels to watch out:

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The number of employed persons rose by 0.6% and the unemployment rate (ILO) rose to 4.4% in the 4th quarter 2024 Source: Federal Statistical Office
Minutes of the Federal Open Market Committee, January 28-29, 2025 Source: Federal Reserve
New Residential Construction Source: Census Bureau