USD/CHF Price Forecasts: Rejected at 0.7800, approaches two-month lows at 0.7765

The US Dollar (USD) resumes its broader bearish trend against the Swiss Franc (CHF) on Friday, reversing Thursday’s gains and reaching levels a few pips above the two-month lows of 0.7765, as the market shifts its focus to the US Nonfarm Payrolls (NFP) report, due later on Friday. In Switzerland, the weak SECO Consumer Climate figures have failed to dent CHF strength.

April’s NFP data is expected to show a significant slowdown in employment creation, although the Unemployment Rate is forecast to remain steady at 4.3%. These figures will be scrutinized with interest for further insight into the US Federal Reserve’s next steps, as the divergences among the committee witnessed at last week’s monetary policy meeting have left investors wondering.