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  1. #1
    Legendry Member milos's Avatar

    CHF strengthened !!!

    The Swiss franc jumped to two-week peak against the U.S. dollar after the release of optimistic data on Swiss economic growth. FOREX pair USD / CHF trades recorded during the previous bottom at 0.9565, the lowest level since 14 May, and subsequently consolidated at 0.9610.
    Support was likely to find at 0.9522, the low of the 14 May and resistance at 0.9649, the high of 27 May. The strengthening of the franc have affected and official data showed that Swiss gross domestic product grew in the last quarter to 0.6 percent from 0.3 percent in the previous quarter, while analysts had expected growth of 0.2 %. Dollar is under pressure because of uncertainty over whether the Fed will soon lower its bond-buying program in the amount of $ 85 billion in the month. Swiss was steady against the euro and stronger against the pound and the yen. EUR / CHF rose slightly to 1.2472, GBP / CHF dropped to 1.4550.

  2. #2
    Legendry Member Michael Hodges's Avatar
    Quote Originally Posted by milos View Post
    The Swiss franc jumped to two-week peak against the U.S. dollar after the release of optimistic data on Swiss economic growth. FOREX pair USD / CHF trades recorded during the previous bottom at 0.9565, the lowest level since 14 May, and subsequently consolidated at 0.9610.
    Support was likely to find at 0.9522, the low of the 14 May and resistance at 0.9649, the high of 27 May. The strengthening of the franc have affected and official data showed that Swiss gross domestic product grew in the last quarter to 0.6 percent from 0.3 percent in the previous quarter, while analysts had expected growth of 0.2 %. Dollar is under pressure because of uncertainty over whether the Fed will soon lower its bond-buying program in the amount of $ 85 billion in the month. Swiss was steady against the euro and stronger against the pound and the yen. EUR / CHF rose slightly to 1.2472, GBP / CHF dropped to 1.4550.
    Most of the chatter is leading me to believe the taper won't start until the the September meeting at the soonest. That leaves 3 months for the markets to keep bouncing ....however if data points to a "definate" start to tapering the markets may discount it and price it in before the official start (of tapering). If that is the case then the announcement could lead the market higher if it isn't as bad as the market fears. This summer could be filled with volatility in currency markets as traders and investors try to figure out whats going to happen this fall.

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