Investing.com - The U.S. dollar slipped against the Swiss franc in light trade on Tuesday, as U.S. markets were to remain closed for a second consecutive day as a result of Hurricane Sandy.
USD/CHF hit 0.9335 during European morning trade, the pair's lowest since October 26; the pair subsequently consolidated at 0.9341, falling 0.28%.
The pair was likely to find support at 0.9315, the low of October 24 and resistance at 0.9399, the high of October 3.
Market sentiment found some support after the initial damage caused by the massive storm appeared to have been less severe that some had feared.
But concerns over the economic outlook for the euro zone re-emerged after official data showed that the number of German unemployed rose by 20,000 in October, compared to expectations for an increase of 10,000.
The unemployment rate ticked up to 6.9%, matching September’s rate, which was revised up from 6.8%.
A separate report showed that the Spanish economy contracted by 0.3% in the third quarter after a 0.3%, compared to expectations for a 0.4% contraction. Spain’s economy has contracted by 1.6% compared to the same period last year.
Elsewhere, the Swissie was steady against the euro with EUR/CHF inching up 0.04%, to hit 1.2090.
Later in the day, the U.S. was to release data on consumer confidence, as well as industry data on house price inflation.
USD/CHF hit 0.9335 during European morning trade, the pair's lowest since October 26; the pair subsequently consolidated at 0.9341, falling 0.28%.
The pair was likely to find support at 0.9315, the low of October 24 and resistance at 0.9399, the high of October 3.
Market sentiment found some support after the initial damage caused by the massive storm appeared to have been less severe that some had feared.
But concerns over the economic outlook for the euro zone re-emerged after official data showed that the number of German unemployed rose by 20,000 in October, compared to expectations for an increase of 10,000.
The unemployment rate ticked up to 6.9%, matching September’s rate, which was revised up from 6.8%.
A separate report showed that the Spanish economy contracted by 0.3% in the third quarter after a 0.3%, compared to expectations for a 0.4% contraction. Spain’s economy has contracted by 1.6% compared to the same period last year.
Elsewhere, the Swissie was steady against the euro with EUR/CHF inching up 0.04%, to hit 1.2090.
Later in the day, the U.S. was to release data on consumer confidence, as well as industry data on house price inflation.