OctaFX | OctaFX Forex Broker
Open trading account
Back

Forex: USD/CHF drop supported by 0.9450

FXstreet.com (Barcelona) - After retesting resistance at 0.9480 on the European opening, the USD/CHF eased across the chart to 0.9450 low. The pair still trades below the opening price (0.9468), quoting close to 0.9460 (-0.10% on the day).

Expectations in Switzerland eased from 10 to 2.3 in March, according to the ZEW report. EMU current account surplus eased from €16.0B to €14.8B in January, higher than €7.9B consensus. Germany sold 10-year bonds at today’s auction and saw its average yield falling 1.66% to 1.36%.

“The USD/CHF currency pair formed a correction towards the previous descending wave”, wrote Ro-boforex.com analyst Igor Sayadov. “We think today the price may continue growing up towards the target at 0.9500 and then start a new descending wave to reach the level of 0.9300”, he added.

Forex Flash: FOMC not expected to change pace of QE - BTMU

Lee Hardman, FX Analyst at the Bank of Tokyo Mitsubishi UFJ note that the FOMC concludes its two day meeting tonight and will release its revised economic forecasts as well.
Read more Previous

Forex Flash: Thursday reopening now appears tenuous in Cyprus – UBS

The Cypriot parliament voted against a proposal to seize deposits from accounts held in Cypriot banks. Not even a single lawmaker in the 56-seat parliament voted in favor of the plan. The party of President Anastasiades abstained en masse even though he negotiated the bailout plan on Friday night. In fact the bill which was finally submitted to parliament included an amendment which would make deposits of less than €20k exempt, but even this gesture was not enough to secure parliamentary approval.
Read more Next
Start livechat