Forex: USD/CHF – Trading near 0.96 barrier

on May 29, 2013

The German Consumer Price Index data announced earlier today has affected the development of the pair, with it falling first 0.9628 before diving deeper to the 0.96 barrier. The pair had hitherto been trading at 0.9791 in the day’s earlier European trade.

At the beginning of the American trading session the pair recovered to the 0.9656/58 level.
New US data on mortgage applications was also released earlier. The number of new applications fell by 8.8 percent against 9.8 percent in April.
The German Consumer Price Index YoY came in at 1.5 percent for May, close to expectations of a 1.3 percent rise. The Consumer Price Index MoM climbed by 0.5 percent in May, versus estimates of 0.2 percent. The Harmonised Index of Consumer Prices rose 0.3 percent MoM and 1.7 percent over the last twelve months.
Earlier today the UBS Consumption Indicator for April was released, showing an improvement of 1.46 points against the 1.24 in the prior month.

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