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Forex: USD/CHF down after Swiss data

By FXstreet.com,  May 07, 2012, 02:15:00 AM EDT

FXstreet.com (Barcelona) - The cross is losing some ground after the Swiss unemployment rate fell to 3.1% in April, matching market expectations and down from 3.2% in the previous month.
Results out of the French and Greek presidential elections promise to heavily weight in the political theatre in Europe, prompting investors to fly to safe havens.

Key inflation data in Switzerland is due later on. Market consensus expects the headline to come in a hair lower at -0.9% YoY in April from -1.0%, albeit still in the deflationary territory.

The cross is losing 0.08% at 0.9236 as of writing, with the next support lying at 0.9215, ahead of 0.9191 them 0.9172 and 0.9158
On the upside, a break above 0.9272 would expose 0.9295 then 0.9319 and 0.9335




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Forex and Currencies

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