The dollar rose slowly against the Swiss franc yesterday after opening in 1.0171 before closing at 1.0192, with less than 40 intra-day amplitudes. Real retail sales in Switzerland fell 0.7% in March from a year earlier, slightly lower than the previous value of 0. 0% and expected to be-0. 4%. The April purchasing managers` index fell below the 50-year-old line, at 48.5, below its previous value of 50.3 and market expectations of 51.0. The market is flat in response to this. The recent dollar against the Swiss franc is very consistent with the combination of fundamentals and technical trends. After this week`s Fed decision on interest rates, the dollar stood firm at 1.0122 against the Swiss franc, undercutting the impact on investor confidence of falling below the short-term upward trend and creating a strong support. Now, if the dollar falls short-term against the Swiss franc in the future, it is likely to test the medium-term upward trend since the end of March and then test the strong support that emerged yesterday. Therefore, the dollar against the Swiss franc has formed a support and upward trend of double insurance. The dollar is unlikely to fall against the Swiss franc in the short term, with growth likely to slow in the medium term, and better U.S. production-related data are needed to break through its highs.
