| News: 2010-07-30 14:21:00 UTC+00 | ||||||
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Swiss Franc Mixed Against Majors
The Swiss franc showed mixed trading against other major currencies in early North American session on Friday. The franc eased from a 1-week high against the pound the euro, but it edged slightly higher against the dollar. Meanwhile, the franc fell against the yen.
The franc fell against the yen in early North American session on Friday. At present, the franc is trading at 82.91 against the yen, compared to yesterday's closing quote of 83.40. On the downside, the franc may target around the 82.50 level.
Data released by the Ministry of Internal Affairs and Communications showed that the unemployment rate in Japan rose to a seasonally adjusted 5.3% in June, slightly higher than analyst expectations for a 5.2% increase.
Against the pound, the franc rose to a 1-week high of 1.6187 at 8:30 am ET but weakened slightly thereafter. Presently, the franc is trading at 1.6210 against the pound with 1.587 seen as the next upside target level. At yesterday's close, the franc was worth 1.6257 against the pound.
Presently, the franc is trading at 1.0396 against the dollar, compared to a recent low of 1.0450. At yesterday's close, the franc was worth 1.0412 against the dollar.
In economic news, the U.S. Commerce Department showed that gross domestic product increased at an annual rate of 2.4 percent in the second quarter compared to the revised 3.7 percent jump seen in the first quarter. Economists had expected GDP to increase by 2.5 percent compared to the 2.7 percent growth that had been reported for the first quarter.
The franc is now trading at 1.3541 against the euro, fell from a 1-week high of 1.3512 hit during European session. The franc may target around the 1.364 level, if it slips further. The euro-franc pair closed yesterday's trading at 1.3617.
The eurozone's annual inflation rose to 1.7% in July, logging the highest rate since November 2008, according to a flash estimate from Eurostat, released on Friday. The inflation rate matched economists' estimate. In June, the inflation rate was 1.4%. The European Central Bank targets inflation rates of 'below, but close to, 2%' over the medium term.
Besides, the eurozone CPI data, euro zone unemployment data for June, Italian final CPI for July, which were released today likely influenced the euro.
From the U.S., Chicago PMI and the University of Michigan's final report on consumer confidence - both for July are slated for release shortly.
Copyright(c) 2010 News.com, Inc. All Rights Reserved
Published: 2010-07-30 14:21:00 UTC+00 1 year, 6 months, 1 week, 2 days, 12 hours, 43 min. ago
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