USD/CHF is consolidating around 0.7980 during late Asian trading on Friday as investors grapple with a lack of fresh US economic data amid the partial government shutdown.
US data blackout fuels caution
The US government entered a partial shutdown after Republican Senators failed to secure Democratic support for a short-term funding bill on Tuesday. As a result, key economic releases, including September’s Nonfarm Payrolls (NFP) and Initial Jobless Claims for the week ending September 27, have been delayed, leaving markets without fresh labor market insights.
The US ADP Employment Change report for September pointed to a slowdown, showing a reduction of 32,000 private-sector jobs versus expectations of a 50,000 gain. August data was also revised to a 3,000 decline from an initial addition of 54,000, highlighting ongoing labor market weakness.
Swiss economy remains soft
In Switzerland, inflation remains subdued. September’s Consumer Price Index (CPI) rose 0.2% year-on-year, below estimates of 0.3%, while monthly inflation fell 0.2% compared to 0.1% in August. Swiss National Bank (SNB) Chairman Martin Schlegel noted that price pressures could accelerate in the coming quarters, though the current data points to a soft backdrop.
Meanwhile, the US Dollar Index (DXY) trades near Thursday’s range around 97.90, adding to USD/CHF’s sideways bias.
