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EUR/CHF rebounds to 1.0870, PMIs eyed

FXStreet (Edinburgh) - The Swiss franc is trading almost unchanged vs. the single currency on Tuesday, taking EUR/CHF to the 1.0870 area so far.

EUR/CHF indifferent to Swiss GDP

The cross remained apathetic after the Alpine economy has expanded 0.8% on an annual basis during the third quarter, a tad lower than the previous 0.9% advance; on a quarterly basis, the GDP figures have come in flat QoQ.

Ahead in the session, Retail Sales, SVME-PMI and Q3 Employment Level are all due in Switzerland, while November’s manufacturing PMIs are expected in Euroland.

EUR/CHF levels to consider

At the moment the cross is up 0.01% at 1.0870 and a surpass of 1.0930 (high Oct.30) would aim for 1.0986 (high Oct.2) and then 1.1049 (high Sep.11). On the other hand, the next support lines up at 1.0820 (100-day sma) followed by 1.0703 (low Aug.20) and finally 1.0501 (23.6% Fibo of 0.8695-1.1049).

China official manufacturing PMI contracts again in November; falls to 49.6

The National Bureau of Statistics today stated Chinese official PMI fell to 49.6 in November, the lowest since August 2012. The figures came in below the median estimate of 49.8 arrived at by economists in a Bloomberg survey as well as in the Reuters poll. China's manufacturing activity contracted for the ninth straight month in November, as per the final Caixin/Markit China Manufacturing Purchasing Managers Index. Weak foreign demand continues to weigh on China’s manufacturing sector.
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