Investing.com - The U.S. dollar edged higher against the Swiss franc on Friday, as trade volumes remained thin after Thursday’s Thanksgiving Day holiday.
USD/CHF ended Friday’s session at 0.9059, up from session lows of 0.9025. For the week, the pair was 0.51% lower.
The pair is likely to find support at 0.8988, the low of October 31 and resistance at 0.9130.
The release of a batch of mixed U.S. economic data on Wednesday did little to alter expectations that the Federal Reserve will start to taper stimulus at one of its next few meetings.
The University of Michigan said its index of overall consumer sentiment was revised up to 75.1 in November from a preliminary estimate of 72.0. Economists had expected the index to be revised up to 73.5.
The report was released two days in advance due to the U.S. Thanksgiving holiday on Thursday.
A separate report showed that manufacturing activity in the Chicago-area expanded at a faster rate than expected in November.
Earlier Wednesday, the Department of Labor said the number of individuals filing for initial jobless benefits last week declined by 10,000 to a two month low of 316,000. Economists had forecast an increase of 4,000.
The jobs data was released one day early due to the U.S. holiday.
The upbeat data offset a report showing that U.S. durable goods orders fell 2% in October, worse than expectations for a 1.9% decline, while core durable goods orders were down 0.1%, compared to expectations for a 0.5% increase.
In the week ahead, investors will be focusing on Friday’s U.S. nonfarm payrolls report for November, for indications on the timing of a possible reduction in Fed stimulus. The U.S. is also to release revised data on third quarter growth.
Ahead of the coming week, Investing.com has compiled a list of these and other significant events likely to affect the markets. The guide skips Tuesday as there are no relevant events on this day.
Monday, December 2
Switzerland is to publish the results of its SVME manufacturing PMI.
Federal Reserve Chairman Ben Bernanke is to speak at an event in Washington. Later Monday, the Institute of Supply Management is to release its manufacturing PMI.
Wednesday, December 4
The U.S. is to release the ADP report on private sector job creation, which leads the government’s nonfarm payrolls report by two days. The Institute of Supply Management is to release its services PMI. The U.S is also to publish data on new home sales and the trade balance, the difference in value between imports and exports.
Thursday, December 5
The U.S. is to publish a revised estimate of third quarter gross domestic product, the broadest indicator of economic activity and the leading indicator of economic growth. Meanwhile, the Labor Department is to release its weekly report on initial jobless claims. The U.S. is also to publish data on factory orders.
Friday, December 6
The Swiss National Bank is to publish data on its foreign currency reserves. This data is closely scrutinized for indications of the size of the bank’s operations in currency markets. Switzerland is to release data on consumer inflation, which accounts for the majority of overall inflation.
The University of Michigan is to release the preliminary reading of its consumer sentiment index. The U.S. is to round up the week with the closely watched government data on nonfarm payrolls and the unemployment rate.
USD/CHF ended Friday’s session at 0.9059, up from session lows of 0.9025. For the week, the pair was 0.51% lower.
The pair is likely to find support at 0.8988, the low of October 31 and resistance at 0.9130.
The release of a batch of mixed U.S. economic data on Wednesday did little to alter expectations that the Federal Reserve will start to taper stimulus at one of its next few meetings.
The University of Michigan said its index of overall consumer sentiment was revised up to 75.1 in November from a preliminary estimate of 72.0. Economists had expected the index to be revised up to 73.5.
The report was released two days in advance due to the U.S. Thanksgiving holiday on Thursday.
A separate report showed that manufacturing activity in the Chicago-area expanded at a faster rate than expected in November.
Earlier Wednesday, the Department of Labor said the number of individuals filing for initial jobless benefits last week declined by 10,000 to a two month low of 316,000. Economists had forecast an increase of 4,000.
The jobs data was released one day early due to the U.S. holiday.
The upbeat data offset a report showing that U.S. durable goods orders fell 2% in October, worse than expectations for a 1.9% decline, while core durable goods orders were down 0.1%, compared to expectations for a 0.5% increase.
In the week ahead, investors will be focusing on Friday’s U.S. nonfarm payrolls report for November, for indications on the timing of a possible reduction in Fed stimulus. The U.S. is also to release revised data on third quarter growth.
Ahead of the coming week, Investing.com has compiled a list of these and other significant events likely to affect the markets. The guide skips Tuesday as there are no relevant events on this day.
Monday, December 2
Switzerland is to publish the results of its SVME manufacturing PMI.
Federal Reserve Chairman Ben Bernanke is to speak at an event in Washington. Later Monday, the Institute of Supply Management is to release its manufacturing PMI.
Wednesday, December 4
The U.S. is to release the ADP report on private sector job creation, which leads the government’s nonfarm payrolls report by two days. The Institute of Supply Management is to release its services PMI. The U.S is also to publish data on new home sales and the trade balance, the difference in value between imports and exports.
Thursday, December 5
The U.S. is to publish a revised estimate of third quarter gross domestic product, the broadest indicator of economic activity and the leading indicator of economic growth. Meanwhile, the Labor Department is to release its weekly report on initial jobless claims. The U.S. is also to publish data on factory orders.
Friday, December 6
The Swiss National Bank is to publish data on its foreign currency reserves. This data is closely scrutinized for indications of the size of the bank’s operations in currency markets. Switzerland is to release data on consumer inflation, which accounts for the majority of overall inflation.
The University of Michigan is to release the preliminary reading of its consumer sentiment index. The U.S. is to round up the week with the closely watched government data on nonfarm payrolls and the unemployment rate.