EUR/USD, USD/CHF eye moves as US CPI data approaches

US equity futures have risen following Nvidia's approval to sell AI chips to China, boosting risk sentiment ahead of critical US inflation data. The development has created mixed signals for dollar pairs, with EUR/USD holding near 1.0825 while USD/CHF trades around 0.8970. Markets are positioning for today's US Consumer Price Index release, with consensus expecting a 0.2% monthly increase. A higher-than-expected CPI reading could strengthen the dollar significantly, as it would support the Federal Reserve's hawkish stance and potential for sustained higher rates. NZD/USD has shown resilience near 0.6150, benefiting from improved risk appetite. The Nasdaq 100 futures indicate a positive open, which typically weighs on safe-haven demand for the dollar and Swiss franc. Traders should prepare for heightened volatility around the CPI release, with immediate EUR/USD resistance at 1.0850 and support at 1.0800.