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Forex: USD/CHF holding gains at 0.9400

FXstreet.com (Barcelona) - The USD/CHF is still holding above the 0.9400 mark (+0.60% on the day) after conquering the area during European time following the disappointing flash manufacturing PMI in Germany. The current daily range is 0.9328/0.9414, both high and low printed in less than 4 hours. US manufacturing and housing data are being published during the NY time and the pair is holding its gains.

The flash Markit manufacturing PMI in the US fell from 54.6 to 52.0 in April, disappointing market consensus that was pointing to 54.0. Having risen 0.6% in January, the US housing price index rose once again in February, increasing the pace to 0.7%, according to the Office of Federal Reserve Housing Enterprise Oversight. Ahead comes more housing and manufacturing data: new home sales and Richmond Fed manufacturing.

The Swiss trade surplus eased slightly from 2M (revised from 2.098M) to 1.98M in March, but came in much higher than the 1.151M expected. Investors are happy to see both exports (from 16,145M to 16.948M) and imports (from 14,047M to 15.048M) climbing to higher values.

“Resistance can be found at 0.9442. Hourly supports can be found at 0.9303 (22/04/2013 low) and 0.9277 (19/04/2013 low)”, wrote MIG Bank analysts Bijoy Kar and Luc Luyet, favoring a minimum move towards the resistance at 0.9972 (24/07/2012 high) in the longer term.

Forex Flash: Stronger preference for Japanese equities continued - Nomura

Nomura Strategist Yujiro Goto notes stronger preference for Japanese equities continued and domestic investors are estimated to have sold JPY78bn (USD0.8bn) of foreign currency-denominated toshins last week, according to NRI.
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American equity markets rise steadfastly

The US stock market edged higher Tuesday, helping pare yesterday’s losses. Beginning with the indices and composites, the NASDAQ climbed +0.86% as it settles in region of 3261.32, up +28.10 points in these moments. In addition, the S&P 500 is trading in positive territory, operating at 1554.85, ascending +12.44 points or +0.80% at the time of writing. Finally, the Dow Jones has edged higher at the opening, trading in the zone of 14679.43, presently +0.77% after a movement of +112.26 points.
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