#USDCHF @ 0.96210 retreats towards 0.9600, ignores upbeat options market signals
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USD/CHF prices fail to justify bullish bias in the options market as the Swiss currency (CHF) pair extends the previous day’s pullback towards 0.9600 during Thursday’s Asian session, pressured to around 0.9620 at the latest.
That said, the three-day uptrend by the daily risk reversal (RR) of the USD/CHF, a gauge of the spread between calls and puts, signals bullish bias in the options markets, with the latest figures being 0.015.
It’s worth noting that the weekly RR is also reversing the previous week’s losses with a 0.075 figure and keeps the USD/CHF pair traders hopeful.
To sum up, the optimism in the options market, coupled with the cautious mood, is likely to restrict immediate USD/CHF moves ahead of the US Retail Sales for August, expected to remain unchanged at 0.0%.
Also read: Australian Employment Preview: Will labor market upturn save the aussie?
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