The USD/CHF pair remains sideways in a narrow trading band between 0.8700 - 0.88450 region during the early Asian session on Tuesday. Meanwhile, the U
The Swiss economy remained stagnant in the second quarter. Investors will keep an eye on the US Factory Orders MoM ahead of the US ISM Services PMI. pair remains sideways in a narrow trading band between 0.8700 - 0.88450 region during the early Asian session on Tuesday. Meanwhile, the US Dollar Index , a measure of the value of USD against six other major currencies, consolidates its gains above the 104.00 mark, near a monthly high. At the time of writing, the USD/CHF is trading at 0.
The Swiss economy remained stagnant in the second quarter. Data released from the Swiss Statistics on Monday showed that the nation’s Gross Domestic Product Q2 dropped to 0.0% QoQ, below the market consensus of 0.1% and the previous quarter's reading of 0.3%. On an annual basis, the growth number remained at 0.5% as expected. .
Looking ahead, the US Factory Orders MoM for July will be due later in the day. Market players will shift their focus to the US ISM Services PMI for August on Wednesday. Also, the Swiss monthly Unemployment Rate will be released on Thursday. These figures could give a clear direction for the USD/CHF pair.
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