🧐 ProPicks AI October update is out now! See which stocks made the listPick Stocks with AI

Forex - USD/CHF higher with U.S. data, Syria in focus

Published 08/29/2013, 05:43 AM
USD/CHF
-
EUR/CHF
-
Investing.com - The U.S. dollar was higher against the Swiss franc on Thursday, ahead of U.S. data later in the day and as concerns over a potential military strike on Syria by the U.S. and its allies continued to support safe haven demand for the greenback.

USD/CHF hit 0.9286 during European morning trade, the pair's highest since August 21; the pair subsequently consolidated at 0.9276, advancing 0.59%.

The pair was likely to find support at 0.9209, the low of August 26 and resistance at 0.9348, the high of August 13.

On Wednesday, President Barack Obama said the U.S. has concluded that the Syrian government carried out a chemical weapons attack near Damascus, but added that he had not yet made a decision about whether to intervene militarily.

The comments came a day after British Prime Minister David Cameron drafted a United Nations resolution condemning the use of chemical weapons in Syria and "authorizing necessary measures to protect civilians".

In Switzerland, official data showed that the number of employed people rose to 4.17 million in the second quarter, in line with expectations, from 4.15 million in the three months to March.

The Swissie was steady against the euro with EUR/CHF edging up 0.04%, to hit 1.2306.

In the euro zone, data showed that the number of unemployed people in Germany rose by a larger-than-forecast 7,000 in August, the first increase in three months, while the unemployment rate remained steady at 6.8%.

Later in the day, the U.S. was to publish revised data on second quarter growth and the weekly report on initial jobless claims.


Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.