Forex Technical/Fundamental Analysis & Forecast by RoboForex

USDCHF: the Swiss franc continues to lose ground against the US dollar

A rise in US industrial production and retail sales could drive the USDCHF rate up to 0.9040. More details in our analysis for 17 December 2024.

USDCHF forecast: key trading points

• SECO economic forecasts for Switzerland
• US retail sales (m/m): previously 0.4%, projected at 0.6%
• US industrial production (m/m): previously -0.29%, projected at 0.10%
• USDCHF forecast for 17 December 2024: 0.9040

Fundamental analysis

Fundamental analysis for 17 December 2024 takes into account that Switzerland’s State Secretariat for Economic Affairs (SECO) will release updated economic growth forecasts today. The previous forecast, published on 19 September 2024, expected GDP growth of 1.1%, significantly below the average. The inflation forecast for 2024 was revised down to 1.2% from 1.4%, and the 2025 outlook was reduced to 0.7%. Today’s SECO report will provide the latest data on economic conditions and the outlook for 2025.

The forecast for 17 December 2024 suggests that US retail sales may rise to 0.6%. Actual data may differ from expectations; however, increased sales in November may support the US dollar.

US industrial production is also projected to rise to a positive level from the previous -0.29%, with the forecast for 17 December 2024 suggesting a production level of 0.10%. Although this is a modest increase, it may instil hope in investors.

RoboForex Market Analysis & Forex Forecasts

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

Sincerely,
The RoboForex Team

Brent falls following the Federal Reserve’s statement, with the current price at 72.63 USD

Brent oil is correcting near the key support level of 72.45 USD. Find out more in our analysis for 19 December 2024.

Brent technical analysis

Brent prices secured a position below the lower boundary of the Ichimoku Cloud, suggesting a downtrend. Today’s Brent forecast anticipates a minor bullish correction, with prices testing the Cloud’s lower boundary at 72.85 USD before falling to 71.00 USD.



Brent prices are falling amid Federal Reserve statements about a slower pace of interest rate cuts in 2025, raising concerns about fuel demand.

Read more - Brent Forecast

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

Sincerely,
The RoboForex Team

The AUDUSD pair appears weak, but there are signals for recovery

The AUDUSD pair declined to 0.6223, and recovering from the two-year low will not be easy. Find out more in our analysis for 20 December 2024.

AUDUSD forecast: key trading points

• The AUDUSD pair remains at a two-year low
• The market is confident that the RBA is closer to an interest rate cut, which could happen as early as February 2025
• AUDUSD forecast for 20 December 2024: 0.6239 and 0.6288

Fundamental analysis

The AUDUSD rate fell to 0.6223 on Friday. The pair remains at a two-year low and appears relatively weak from a fundamental perspective.

The market believes the Reserve Bank of Australia will soon be ready for its first rate cut amid slowing economic activity. The rate could be lowered as early as February 2025, with the current level at 4.35% per annum. The minutes of the RBA’s previous meeting, due in December, may provide further insights into these plans.

Externally, the AUD remains under pressure from the strong US dollar. This driver became more influential after the Federal Reserve announced its cautious plans to lower the interest rate next year.

RoboForex Market Analysis & Forex Forecasts

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

Sincerely,
The RoboForex Team