US stocks rose to a seven-week high, USD/CHF sent gains

On Tuesday (October 18), the US PPI data and NAHB house price index were higher than expected, boosting U.S. stocks higher. In the end, the Guardian stated that France and Germany agreed to expand the size of the bailout fund to 2 trillion euros. US stocks expanded their gains to 7-week high, market risk aversion, USD/CHF sent back gains in Asian time.

During the Asian period, data released by the National Bureau of Statistics of China showed that China’s gross domestic product (GDP) rate rose by 9.1% in the third quarter, from 9.7% in the first quarter and 9.5% in the second quarter. The data shows that China's economic growth has slowed down significantly, making the market risk aversion.

In addition, Monday's (October 17th) speech by German officials caused the market to raise concerns about the debt problem in Europe. At the same time, Moody's warned that the possibility of a downward revision of the French rating undoubtedly exacerbated the market's worries. The stock market in Asia and Europe fell sharply. , boosted the demand for safe-haven dollar, USD/CHF rebounded at the end of the Asian session on Tuesday, and rose to above 0.9000 during the European session.

Goldman Sachs's third-quarter earnings report in early New York fell far short of expectations. The negative information weighed on the deterioration of market risk sentiment. The non-US currency was once lower, and the US dollar/Canadian dollar hit a high of 1.0265.

Subsequent data released showed that the US producer price index (PPI) rose by 0.9% in September from a year-on-year increase of 6.9% in September. It was higher than the expected monthly increase of 0.2%, and rose 6.4% in September. The monthly rate of increase in PPI in September was the highest since April 2011. After the release of U.S. economic data, U.S. stocks bottomed out after the 30-year U.S. government bond price cuts rose. U.S. dollar and Swiss franc edged higher to 0.9046 high and turned lower.

In the midday of New York, the speech of Federal Reserve Chairman Ben Bernanke resurfaced in an old-fashioned manner and market conditions were not greatly affected. Bernanke said that the use of monetary policy should not be ruled out as an aid to the possibility of entering a stable goal. The crisis has expanded the range of tools the Fed can use, but the overall framework has not changed.

Late in the New York session, according to the British "Guardian" report, France and Germany agreed to expand the size of the bailout fund to 2 trillion euros. The risk appetite has been greatly boosted. US stocks have expanded to more than 2%, and the USD/CHF has changed from the 0.9000 line. Above the rapid fall to 0.8950 up and down, counting from the high point has dropped nearly 100 points.

From the perspective of the 4 hours chart, USD/CHF gradually builds a head and shoulders pattern after breaking through the downtrend channel. If the short-term exchange rate can stand on the 0.9000 mark again, the market outlook will usher in a rebound of around 200 points.

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