Jun 06, 2013 03:09 PM IST | Source:

Forex - USD/CHF slips lower, eyes on U.S. data

Forex - USD/CHF slips lower, eyes on U.S. data - The U.S. dollar slipped lower against the Swiss franc on Thursday, as uncertainty over the future of the Federal Reserve's stimulus program weighed on the greenback, while markets eyed the European Central Bank's upcoming monthly policy statement.

USD/CHF hit 0.9392 during European morning trade, the pair's lowest since May 9; the pair subsequently consolidated at 0.9415, edging down 0.08%.

The pair was likely to find support at 0.9334, the low of May 9 and resistance at 0.9494, Wednesday's high.

The dollar remained under pressure after data on Wednesday showing that the U.S. private sector added fewer-than-expected jobs in May dampened expectations that the Fed would start to unwind its asset purchase program this year.

Payroll processor ADP said U.S. non-farm private employment rose by a seasonally adjusted 135,000 last month, below expectations for an increase of 165,000.

The data is sometimes seen as an indicator of Friday's closely watched government report on nonfarm payrolls.

Meanwhile, the ECB was not widely expected to make any changes to monetary policy at its monthly meeting later Thursday but the bank's post-policy meeting press conference with President Mario Draghi would be closely watched.

In Switzerland, official data showed that the consumer price index rose 0.1% in May, in line with expectations, after a flat reading the previous month.

The Swissie was lower against the euro with EUR/CHF adding 0.11%, to hit 1.2350.

Later in the day, the U.S. was to release the weekly report on initial jobless claims. - offers an extensive set of professional tools for the Forex, Commodities, Futures and the Stock Market including real-time data streaming, a comprehensive economic calendar, as well as financial news and technical & fundamental analysis by in-house experts.
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