Investing.com - The dollar fell to six-week lows against the Swiss franc on Friday, despite data showing that the U.S. economy added more jobs than forecast in November.
USD/CHF hit session lows of 0.8911, the weakest level since October 25 and was last down 0.52% to 0.8917.
The pair is likely to find support at 0.8891, the low of October 25 and resistance at 0.8983, Friday’s high.
The U.S. economy added 203,000 jobs in November, above expectations for jobs growth of 180,000, the Labor Department said. The unemployment rate fell to a five year low of 7.0% from 7.3% in October.
The report came one day after official data showed that the U.S. economy grew at an annual rate of 3.6% in the three months to September, well above the preliminary estimate for 2.6%.
The robust data raised the possibility that the Federal Reserve may start to scale back its USD85 billion-a-month asset purchase program as soon as its next monthly meeting on December 17 - 18.
In the week ahead, the U.S. is to release what will be closely watched data on retail sales, while Thursday’s rate announcement by the Swiss National Bank will also be in focus.
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 and Wednesday, as there are no relevant events on these days.
Monday, December 9
Switzerland is to publish data on retail sales, the government measure of consumer spending, which accounts for the majority of overall economic activity.
Thursday, December 12
The SNB is to announce its libor rate and publish its monetary policy assessment. The announcement is to be followed by a press conference.
The U.S. is to produce data on retail sales, as well as the weekly report on initial jobless claims.
Friday, December 13
Switzerland is to publish data on producer price inflation.
The U.S. is to round up the week with data on producer price inflation.
USD/CHF hit session lows of 0.8911, the weakest level since October 25 and was last down 0.52% to 0.8917.
The pair is likely to find support at 0.8891, the low of October 25 and resistance at 0.8983, Friday’s high.
The U.S. economy added 203,000 jobs in November, above expectations for jobs growth of 180,000, the Labor Department said. The unemployment rate fell to a five year low of 7.0% from 7.3% in October.
The report came one day after official data showed that the U.S. economy grew at an annual rate of 3.6% in the three months to September, well above the preliminary estimate for 2.6%.
The robust data raised the possibility that the Federal Reserve may start to scale back its USD85 billion-a-month asset purchase program as soon as its next monthly meeting on December 17 - 18.
In the week ahead, the U.S. is to release what will be closely watched data on retail sales, while Thursday’s rate announcement by the Swiss National Bank will also be in focus.
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 and Wednesday, as there are no relevant events on these days.
Monday, December 9
Switzerland is to publish data on retail sales, the government measure of consumer spending, which accounts for the majority of overall economic activity.
Thursday, December 12
The SNB is to announce its libor rate and publish its monetary policy assessment. The announcement is to be followed by a press conference.
The U.S. is to produce data on retail sales, as well as the weekly report on initial jobless claims.
Friday, December 13
Switzerland is to publish data on producer price inflation.
The U.S. is to round up the week with data on producer price inflation.