November 3, 2009
The USD/CHF edged lower to 1.0200 yesterday when risk appetite gained some support from better-than-expected results from economic reports that came out of the US.
The SVME PMI which was released yesterday told a mixed story. It came out with a reading of 54.0 for October, much lower than the 55.1 initially expected. Last reporting period’s figure stood at 54.3. Despite the dip, the results of the survey still shows that the manufacturing industry is expanding.
No economic report due today so expect the CHF’s price action to be largely dependent on risk sentiment and data coming out the US and euro zone.
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