1 Aug 2013
USD/CHF sails higher on upbeat ISM
FXstreet.com (New York) - The USD/CHF foreign exchange rate is in escape velocity, streaming higher towards fresh session highs at the time of writing, following generally mixed US data Thursday morning.
USD/CHF event risk
In the United States, the ISM Manufacturing PMI (July) came in at 55.4, beating estimates of 52.0. Moreover, Construction Spending (MoM) fell -0.6% in June, relative to expectations of +0.4%. Meanwhile, investors will anxiously be awaiting the release of Nonfarm Payroll data tomorrow, which promises to be a market mover across US trading.
USD/CHF technical bias
At the time of writing, the USD/CHF is now trading near 0.9348 presently opening up a gain of +0.85% above its opening as the USD flexes its muscles across US trading. Technically speaking, after a recent jump above resistance at 0.9340, the USD/CHF faces additional resistive measures at 0.9358.
USD/CHF event risk
In the United States, the ISM Manufacturing PMI (July) came in at 55.4, beating estimates of 52.0. Moreover, Construction Spending (MoM) fell -0.6% in June, relative to expectations of +0.4%. Meanwhile, investors will anxiously be awaiting the release of Nonfarm Payroll data tomorrow, which promises to be a market mover across US trading.
USD/CHF technical bias
At the time of writing, the USD/CHF is now trading near 0.9348 presently opening up a gain of +0.85% above its opening as the USD flexes its muscles across US trading. Technically speaking, after a recent jump above resistance at 0.9340, the USD/CHF faces additional resistive measures at 0.9358.