AUD/CHF Outlook: The outlook for AUD/CHF is slightly positive, as the rate is above its recent average and near recent highs, supported by strong Australian economic data.
Key drivers:
• Rate gap: The Reserve Bank of Australia's potential for interest rate hikes contrasts with the Swiss National Bank’s unchanged 0% policy.
• Risk/commodities: High prices for Australian commodities are benefitting the AUD, while recent weak trade numbers from Switzerland could pressure the CHF.
• One macro factor: The robust Australian jobs report has significantly boosted the AUD, indicating a resilient local economy.
Range: AUD/CHF is likely to hold within its recent range, with possible slight upward drift, given its current positioning.
What could change it:
• Upside risk: A stronger-than-expected performance in upcoming Australian economic indicators could lift the AUD further.
• Downside risk: If the Swiss franc continues to appreciate or if there's negative news impacting Australian exports, it could weaken the AUD against the CHF.