🇺🇸 The U.S. ISM services PMI rose to 51.6 in April from 50.8 in March;

🇨🇭Switzerland faced zero inflation in April for the first time in many years;

🏛 Traders are almost certain the Fed will leave interest rates unchanged on Wednesday, according to the CME Fedwatch tool;

📰 U.S. President Donald Trump confirmed that talks are ongoing, but ruled out a meeting with Chinese President Xi Jinping anytime soon;

🇨🇳 China's Caixin services PMI fell to 50.7 in April from 51.9 in March.

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#usdchf

🇺🇸🇨🇭 The USD/CHF pair is trading at 0.8250.

📊 According to previously published data, the national consumer price index of Switzerland fell to 0% in annual terms in April, compared to a growth of 0.3% a month earlier. Against this background, the need for currency interventions by the SNB has decreased, but at the next meeting in June, the regulator will probably again soften the national monetary policy and reduce the rate to 0%.

🏛 In addition, analysts predict that during the press conference following the meeting, the central bank's management may admit the possibility of reducing the interest rate below zero, which will put additional pressure on the Swiss currency quotes.

📈 Given this, the USD/CHF pair retains the potential to grow above 0.8300.

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⚠️ Today, traders are focusing on the meeting of the Federal Reserve System (FRS). The US regulator is expected to keep the key interest rate at the previous level of 4.5%;

📰 According to Bloomberg, the European Union (EU) plans to impose additional tariffs on US imports worth about €100 billion if a trade agreement cannot be reached;

🇺🇸 US Secretary of State Scott Bessent said on Tuesday that the US is actively negotiating with 17 trading partners;

🇩🇪 German conservative leader Friedrich Merz was elected Chancellor of Germany;

🛢According to the American Petroleum Institute (API), US oil inventories fell by 4.49 million barrels last week against the forecast for a decline of 2.5 million barrels.

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#dxy

💵 The dollar index (DXY) is trading at 99.40.

📰 Today, the focus of traders' attention is the meeting of the Federal Reserve System (FRS), the results of which will be summed up at 18:00 GMT. The Fed is expected to leave its key interest rate unchanged at 4.25-4.50%, balancing signs of lower inflation and a resilient labor market with growing uncertainty over US trade policy.

📣 Market participants will be closely watching Fed Chairman Jerome Powell’s comments, especially against the backdrop of escalating trade tensions, a weak US economy and political pressure from President Trump to cut rates.

📉 If Powell chooses to stick to “soft” rhetoric, pressure on the dollar may increase.

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