USD/CHF hovers around 0.9050, US CPI data looms

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The USD/CHF pair is trading around 0.9050 during the early European session. The weaker US Dollar (USD) is contributing to the downtick of the pair. However, the upbeat US March employment report and hawkish comments from Federal Reserve (Fed) officials may limit the downside of the USD/CHF pair. The US employment report showed that the economy added more jobs than expected, leading to speculation that the Fed might delay the easing cycle. The odds of a June rate cut declined to below 50%. Fed Chair Jerome Powell stated that the central bank could cut rates if the US economy continues on its current course. Fed Governor Michelle Bowman mentioned that the Fed might need to act further to ease price pressures. Minneapolis Fed President Neel Kashkari penciled in two interest rate cuts this year, but if inflation continues to stall, no rate cuts would be a possible scenario. Investors are awaiting the US Consumer Price Index (CPI) data for March, which could impact expectations for Fed rate cuts. On the Swiss front, the escalating tensions in the Middle East could boost safe-haven assets like the Swiss Franc (CHF) and create a headwind for the USD/CHF pair.

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https://www.fxstreet.com/news/usd-chf-hovers-around-09050-us-cpi-data-looms-202404090509