13 Sep 2013
USD/CHF soars on solid US labor data
FXstreet.com (Athens)-While the USD/CHF pared all of its gains on Thursday’s solid US jobless claims data, since the opening of the Asian trading session is heading steadily upwards.
Syria war is put on “snooze” button, US labor data came out really good…USD/CHF upwards
Seems like the greenback managed to pull out of a grim 4-day slump since the past session. The American dollar takes advantage of a couple of facts and events; now after the astonishing US labor data (jobless claims fell in the lowest level since April of 2006), we are ahead of a debate on the market reaction in the likelihood of a $10 to $15 billion reduction in the Fed’s monthly $85 billion-per-month QE3 effort. Finally, today we have the US retail sales; because the recent prices on oil and gas have been skyrocketed, a softer figure should not surprise investors. Anyhow, Core retail sales and consumer sentiment in the U.S are the major news for today.
Strategic aspects and Technical Outlook on USD/CHF
Karen Jones, Head Technical Analyst at Commerzbank suggests “USD/CHF has failed on its initial test of 0.9455 and is correcting lower. We look for this correction to ideally terminate circa. 09280 (the 50% retracement). What’s more, Rallies will find initial resistance at .9353 and will need to clear last week high at 0.9455 to reassert upside pressure.”
Syria war is put on “snooze” button, US labor data came out really good…USD/CHF upwards
Seems like the greenback managed to pull out of a grim 4-day slump since the past session. The American dollar takes advantage of a couple of facts and events; now after the astonishing US labor data (jobless claims fell in the lowest level since April of 2006), we are ahead of a debate on the market reaction in the likelihood of a $10 to $15 billion reduction in the Fed’s monthly $85 billion-per-month QE3 effort. Finally, today we have the US retail sales; because the recent prices on oil and gas have been skyrocketed, a softer figure should not surprise investors. Anyhow, Core retail sales and consumer sentiment in the U.S are the major news for today.
Strategic aspects and Technical Outlook on USD/CHF
Karen Jones, Head Technical Analyst at Commerzbank suggests “USD/CHF has failed on its initial test of 0.9455 and is correcting lower. We look for this correction to ideally terminate circa. 09280 (the 50% retracement). What’s more, Rallies will find initial resistance at .9353 and will need to clear last week high at 0.9455 to reassert upside pressure.”