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Forex: USD/CHF rallies after Italian 10-year bond auction

By FXstreet.com,  December 28, 2012, 06:52:00 AM EDT

FXstreet.com (Barcelona) - The greenback is at strength on Friday with month end flows and investor worries regarding the US fiscal cliff after US Senate majority leader Harry Reid being discontent with recent talks. From its daily low of 0.9118, the USD/CHF added more than 60 pips throughout the European session to trade at 0.9182 high.

The Italian 10-year bond auction found a higher average yield today, from 4.45% to 4.48%. The Greek PPI eased from 4.0% to 2.4% in November.

The Italian Producer Price Index (YoY) eased from 2.3% to 2.0% in November, coming below the expected 2.1%. November Retail Sales in Spain also came in better than expected, rising from -9.7% to -7.8%, while market consensus was pointing to a wider contraction of -10.0%.

"The pair may start forming a new ascending structure from the pattern's lower border to reach the level of 0.9240", wrote Roboforex analyst Igor Sayadov.




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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