Investing.com - The U.S. dollar eased higher against the Swiss franc in cautious trade on Thursday, as investors eyed the outcome of an European Central Bank meeting and U.S. jobs data due out later in the day.
USD/CHF hit 0.9155 during European morning trade, the session high; the pair subsequently consolidated at 0.9144, gaining 0.14%.
The pair was likely to find support at 0.9073, Wednesday’s low and resistance at 0.9195, the high of April 19.
Investors remained cautious after an auction of Spanish government bonds saw the country’s short-term borrowing costs increase sharply.
Spain sold the full target amount of EUR2.5 billion of government bonds in its first debt sale since being downgraded by Standard & Poor’s, but the yield on the country’s five-year bonds rose to 4.96% from 3.69%, while the yield on three-year bonds climbed to 4.03% from 2.61%.
Market participants were looking ahead to the outcome of the ECB’s policy meeting, amid pressure on policymakers to resume the bank’s bond purchase program in order to ease pressure on the borrowing costs of vulnerable peripheral euro zone economies.
Elsewhere, Wednesday’s disappointing U.S. private sector employment data fanned fears that the economic recovery is losing momentum, ahead of a government report on nonfarm payrolls on Friday, after government data in March showed a slowdown in hiring.
The Swissie was little changed against the euro, with EUR/CHF dipping 0.01% to hit 1.2013.
Later Thursday, the U.S. was to produce government data on unemployment claims, as well as preliminary data on nonfarm productivity and unit labor costs. In addition, the Institute of Supply Management was to produce a report on service sector growth.
USD/CHF hit 0.9155 during European morning trade, the session high; the pair subsequently consolidated at 0.9144, gaining 0.14%.
The pair was likely to find support at 0.9073, Wednesday’s low and resistance at 0.9195, the high of April 19.
Investors remained cautious after an auction of Spanish government bonds saw the country’s short-term borrowing costs increase sharply.
Spain sold the full target amount of EUR2.5 billion of government bonds in its first debt sale since being downgraded by Standard & Poor’s, but the yield on the country’s five-year bonds rose to 4.96% from 3.69%, while the yield on three-year bonds climbed to 4.03% from 2.61%.
Market participants were looking ahead to the outcome of the ECB’s policy meeting, amid pressure on policymakers to resume the bank’s bond purchase program in order to ease pressure on the borrowing costs of vulnerable peripheral euro zone economies.
Elsewhere, Wednesday’s disappointing U.S. private sector employment data fanned fears that the economic recovery is losing momentum, ahead of a government report on nonfarm payrolls on Friday, after government data in March showed a slowdown in hiring.
The Swissie was little changed against the euro, with EUR/CHF dipping 0.01% to hit 1.2013.
Later Thursday, the U.S. was to produce government data on unemployment claims, as well as preliminary data on nonfarm productivity and unit labor costs. In addition, the Institute of Supply Management was to produce a report on service sector growth.