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Forex: USD/CHF falls to daily low at 0.9327/29

FXstreet.com (Barcelona) - The USD/CHF fell sharply off the 0.9350 handle earlier today, plunging nearly 20 pips to become entrenched in negative territory. With Swiss economic data in the mouths of investors, the pair is negotiating an exchange of 0.9327/29, operating at daily lows.

At this juncture the cross has settled a marginal -0.11% off its opening. According to the UBS Research Team, “We maintain a bearish intraday outlook for the USD/CHF with resistance is at 0.9357. While this holds, the pair is vulnerable, with support at 0.9277 ahead of 0.9207.”

Earlier today in Switzerland, the Trade Balance (March) came in at 1.90B, against expectations of 1.15B. Moreover, Exports (MoM) yielded a figure of 16.948B, compared with 14.130B previously. Finally, Imports (MoM) declined to 15.048B in March, vs. 16.130B in February.

Forex: EUR/GBP jumps to 0.8568 high on Markit PMI data

The market is rising higher ahead of the European opening as the French PMI services figure came in higher for the preliminary release of April data, up from 41.3 to 44.1 and above 42.0 consensus. The manufacturing figure rose from 44.0 to 44.4, above 44.3 consensus. Next in line in Germany and EMU data. The EUR/GBP moved from its opening price at 0.8544 to 0.8568 high, where it is stalling at the moment.
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