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The Euro (EUR) trades under pressure against the Swiss Franc (CHF) on Wednesday, with EUR/CHF extending losses for the second straight session as the common currency struggles to gain traction following Eurozone inflation data.

The agent is being added to Seller Assistant, an AI tool for merchants that the company debuted last year.

The USDCHF was the biggest mover to the downside yesterday, and in the process the price fell below the July 1 low at 0.78714. That break took the price to the lowest level going back to September 2011 – 14 years ago. The low price today extended to a new low for the year at 0.78544.

Since the low, the price action has consolidated and corrected modestly to the upside . The rotation to the upside did extend above both the 100 and 200 bar moving averages on the 5 minute chart giving the buyers some hope for further corrective action. The break took the price up to 0.78784 before the price action turned even more up and down choppy. Since in the pair has traded within a modest 16 PIP trading range between 0.78621 and 0.7878.

In the video above, I initially focus on the longer-term weekly chart and the break to 14 your lows, and other than the hourly chart for technical clues it currently provides. Finally, I focus on the 5 minute chart, as traders in the short term will look to it for short-term momentum clues.

This article was written by Greg Michalowski at investinglive.com.

The Cyberspace Administration of China ordered companies to halt purchases of Nvidia’s RTX Pro 6000D, a chip that was made for the country.

Canada Canadian Portfolio Investment in Foreign Securities rose from previous $9.04B to $17.41B in July

Canada Foreign Portfolio Investment in Canadian Securities came in at $26.69B, above expectations ($-1.32B) in July

United States Building Permits Change dipped from previous -2.8% to -3.7% in August

United States Housing Starts Change dipped from previous 5.2% to -8.5% in August

• Prior starts 1.428M
• Starts change -8.5% vs +5.2% prior
• US August building permits 1.312M vs 1.37M expected
• Permits change -3.7% vs -2.2% prior

This is a poor reading and it is near the bottom of the post-covid range. Rate cuts will start to stimulate US housing so long as 30-year yields come down. If the Fed gets too dovish, we could see curve steepening and in that case then current 6.2% rates are as good as we’re going to get.

This article was written by Adam Button at investinglive.com.