Crédit Agricole Corporate and Investment Bank
February 10, 2026
FX Daily
Daily UpdateFXMacro Economic IndicatorsRates Govt BondsEnergyInformation Technology
The USD is weakening on labor market fears and reports of Chinese banks cutting UST exposure, while CHF and NOK show resilience.
Key Takeaways
- 1.USD is under pressure due to labor market concerns and reports of Chinese officials encouraging banks to reduce US Treasury exposure.
- 2.The CHF remains strong despite a lack of obvious catalysts, with EUR/CHF hitting new lows below 0.9130.
- 3.NOK strength is supported by global risk appetite and a solid Q425 mainland GDP pick-up (0.4% QoQ).
Table of Contents
- Asia overnight
- USD: the sum of all fears
- CHF: relentless
- NOK: inflated?
- Latest publications
- Open trade recommendations
- Key events
- Red Mount Analytics
- Global Markets Research contact details
- Certification
- Valuation and methodology
- Disclaimer
Document Preview
Access the Full Report
Get unlimited access to institutional research reports with a 14-day free trial.
Authors
Valentin MarinovDavid ForresterAlexandre Dolci
Securities
AUDUSDUS TreasuriesEURSEKEUR/CHF
Themes
Chinese UST De-riskingSafe Haven Resilience (CHF/JPY)US Labor Market Weakness
Regions
North AmericaEuropeAsia PacificUnited StatesNorwayChina