USDCHF on the rise. Tests 200 hour MA
BUZ INVESTORS USDCHF on the rise The US Dollar is trading at 0.9908 against the Swiss Franc at 09:40 GMT this morning, 0.34% lower from the New York close. Earlier today, Switzerland’s SECO consumer confidence index surprisingly dropped in April. The pair traded at a high of 0.9956 and a low of 0.9908 this mo
rning. Yesterday, the USD traded 0.43% higher against the CHF in the New York session and ended at 0.9942. The pair is expected to its find support at 0.9879 and its first resistance at 0.9947.
The USDCHF just made its quick move to the upside and tests the 200 horu MA at 0.9941. The 200 day MA is ahead at 0.99498. and a trend line cuts across at 0.99607 currently. There are 5 points on that line now (see red circles).
It seemed the market was trying to make the case for the higher CHF (safe haven perhaps), but the FOMC statement was not that scary, and the dollar is better bid anyway. The pair is back in the choppy stuff.
USDCHF on the rise
Swiss Franc | Data | Chart | Calendar | Forecast | News
The USDCHF decreased 0.0037 or 0.37% to 0.9909 on Thursday May 4 from 0.9945 in the previous trading session. Historically, the Swiss Franc reached an all time high of 3.88 in April of 1972 and a record low of 0.72 in August of 2011.
Switzerland Trade Surplus Widens In March
Switzerland trade surplus rose to CHF 3.10 billion in March of 2017 from CHF 2.08 billion a year earlier and above market expectations of CHF 3.01 billion, as exports increased more than imports. Considering the first three months of 2017 the trade surplus was recorded CHF 11 billion.
Year-on-year, sales went up by 10.2 percent to CHF 19.60 billion, driven by metals (21.8 percent), textiles, clothing and footwear (32.9 percent), pharmaceuticals (12.2 percent), machinery and electronics (6.4 percent), watches (7.6 percent), precision instruments (13.4 percent), jewelry and bijouterie (4.9 percent), food, beverages and tobacco (1.1 percent), plasticts (5.4 percent), and paper and graphic products (4.0 percent). In contrast, exports decreased for: vehicles (-11.2 percent).
Swiss Jobless Rate Falls To 4-Month Low Of 3.4% In March
Swiss unadjusted unemployment rate fell to 3.4 percent in March of 2017 from 3.6 percent in February and in line with market estimates. It was the lowest jobless figure since November 2016, as the number of unemployed and jobseekers went down.
In March, there were 152,280 unemployed persons enrolled at the regional employment centers, about 7,529 less persons than in the prior month. Compared to the same month a year earlier, unemployment decreased by 3,044 persons (-2 percent).
major currencies: (EUR-USD) (USD-JPY) (USD-GBP) (USD-CHF), (USD-CAD), (AUD-USD) (USDCNY)
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