USD/CHF steady as Swiss unemployment holds at 3.0% in November

USD/CHF remains unchanged near 0.8850 following Switzerland's November unemployment data, which came in line with expectations at 3.0%, matching the previous month's reading. While the headline figure suggests stability, underlying labor market conditions continue to show gradual softening, a trend that has caught the Swiss National Bank's attention. The steady unemployment rate masks emerging weakness in job creation and rising jobless claims in certain sectors. SNB officials have indicated growing concerns about economic headwinds, particularly from weakening European demand and global trade uncertainties. Market participants are increasingly pricing in the possibility of future SNB rate cuts, with some analysts suggesting the central bank may eventually need to return to negative interest rates. Technical levels show USD/CHF trading in a narrow range, with resistance at 0.8900 and support at 0.8820, as traders await clearer directional catalysts from upcoming Swiss inflation data and SNB policy guidance.