Swiss franc foreign exchange rate

andres del risco

Foreign Exchange Overnight/Morning Ranges:

Currency Rates EUR/USD 1.4209-1.4387

Currency Rates GBP/USD 1.6173-1.6205

Currency Rates GBP/EUR 1.1334-1.1390

The Swiss franc foreign exchange rate fell again by 0.3% against the US dollar after yesterday’s Swiss GDP data indicated a 0.4% slow down in growth.

This is likely to be a result of a steep decline in Switzerland’s investments and also a drop in the country’s exports. Yesterday’s data also showed China’s PMI bounce back by 0.2% from July.

China remains adamant that its main priority is to control inflation and meet its inflation target of 4%Members of the ECB shadow council have called for a reversal of this year’s rate increases by the ECB as E.U. manufacturing showed a sharp slowdown yesterday. A bad week for the Euro, triggered by the Italian amendment of its austerity bill.

Stocks have declined in the last 24 hours, as the USD holds onto yesterday’s gains.

U.S. payroll data is expected to show a rise of between 70-75k, any surprise reading will certainly move the markets.

Sterling trading back above the € 1.1350 pivotal level after the EURO was sold this morning and U.K. PMI data for August fell in line with expectations (52.6), still above the 50-mark that separates growth from contraction.

EUR/USD currently 1.4230. Support 1.4200, resistance 1.4500.

GBP/USD currently 1.6192. Support 1.6000, resistance 1.6300.

GBP/EUR currently 1.1379. Support 1.1350, resistance 1.1600.

Oil $ 88.62 Gold $ 1838

Dow -1.03% FTSE -0.87% Nikkei -1.21%

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Swiss franc foreign exchange rate

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