We have updated our privacy policy and terms & conditions. Find out more here.

Forex - USD/CHF edges higher, eyes on central banks

ForexJul 04, 2013 09:33AM GMT Add a Comment
Share with a Friend
Thanks for sharing
Emails have been sent to:
To send more emails click here
Investing.com - The U.S. dollar edged higher against the Swiss franc on Thursday, as expectations for a near-term end to the Federal Reserve's stimulus program continued to support demand for the greenback.

USD/CHF hit 0.9498 during European morning trade, the session high; the pair subsequently consolidated at 0.9481, adding 0.18%.

The pair was likely to find support at 0.9412, the low of June 28 and resistance at 0.9530, the high of July 2 and a one-month high.

Investors were looking ahead to Friday’s U.S. nonfarm payrolls data, for further clues on when the Fed may decide to unwind its USD85 billion-a-month bond buying program.

Data on Wednesday showed that the U.S. private sector added 188,000 jobs in June, more than expectations for an increase of 160,000.

The Swissie was fractionally lower against the euro with EUR/CHF easing up 0.08%, to hit 1.2326.

Later in the day, the European Central Bank was expected to leave interest rates on hold following its policy meeting and to reiterate that an exit from loose monetary policy remains distant.

Separately, concerns over a political crisis in Portugal eased on Thursday, amid hopes that the government wouldn’t collapse following talks between the coalition partners overnight.

The future of the country's coalition government was thrown into doubt earlier in the week, following the resignation of country’s foreign minister and finance minister in protest over government austerity policies.

Trade volumes were expected to remain light on Thursday, with markets in the U.S. closed for the Independence Day holiday.

Forex - USD/CHF edges higher, eyes on central banks

Related Articles

Dollar remains on the upside as U.S. data supports
Dollar remains on the upside as U.S. data supports
By Investing.com - Mar 30, 2015

Investing.com - The dollar remained broadly higher against a basket of other major currencies on Monday, after the release of positive U.S. economic reports and as comments by ...

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Are you sure you want to delete this chart?
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Are you sure you want to delete this chart?

Successfully Reported

Thank you. This comment has been flagged for a moderator.
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data .

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.