Investing.com - The U.S. dollar traded close to a one-month low against the Swiss franc on Tuesday, as the greenback remained under pressure after Monday’s disappointing U.S. economic data added to speculation over further easing measures by the Federal Reserve.
USD/CHF hit 0.9046 during European late morning trade, the pair’s lowest since April 3; the pair subsequently consolidated at 0.9066, edging down 0.08%.
The pair was likely to find support at 0.9020, the low of March 26 and resistance at 0.9096, Monday’s high.
Sentiment on the dollar remained soft after U.S. data on Monday showed that manufacturing activity in the Chicago area slowed significantly more-than-expected in April, while a separate report showed that consumer spending slowed last month.
Market participants were shifting their focus to U.S. monthly jobs figures for April, to be released Friday after data in March showed a slowdown in hiring in the U.S.
Meanwhile, investors were cautious after data on Monday confirming that Spain’s economy entered a recession in the first quarter sparked fresh fears that austerity measures could impair economic growth in the euro zone.
Markets were also eyeing a weekend of elections in Greece and France as well as the European Central Bank’s policy meeting on Thursday.
Elsewhere, the Swissie was flat against the euro with EUR/CHF hitting 1.2014.
Later in the day, the U.S. was to release a closely watched report by Institute for Supply Management on manufacturing activity.
USD/CHF hit 0.9046 during European late morning trade, the pair’s lowest since April 3; the pair subsequently consolidated at 0.9066, edging down 0.08%.
The pair was likely to find support at 0.9020, the low of March 26 and resistance at 0.9096, Monday’s high.
Sentiment on the dollar remained soft after U.S. data on Monday showed that manufacturing activity in the Chicago area slowed significantly more-than-expected in April, while a separate report showed that consumer spending slowed last month.
Market participants were shifting their focus to U.S. monthly jobs figures for April, to be released Friday after data in March showed a slowdown in hiring in the U.S.
Meanwhile, investors were cautious after data on Monday confirming that Spain’s economy entered a recession in the first quarter sparked fresh fears that austerity measures could impair economic growth in the euro zone.
Markets were also eyeing a weekend of elections in Greece and France as well as the European Central Bank’s policy meeting on Thursday.
Elsewhere, the Swissie was flat against the euro with EUR/CHF hitting 1.2014.
Later in the day, the U.S. was to release a closely watched report by Institute for Supply Management on manufacturing activity.