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USD/CHF loses bullish momentum

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The USD/CHF pair reached a daily high at 0.9980 ahead of the NA session and lost its bullish momentum to turn flat near 1 usd in chf at mid-0.99s.

Although the greenback strength helped the pair extend its upside earlier in the day, the mixed macroeconomic data from the United States forced the US Dollar Index to erase a part of its daily gains. Today's data showed that housing starts increased by 5% in May to beat the market expectation of while building permits contracted by 4.6% following April's 0.9% decrease. The DXY, which came within a touching distance of the 95 mark, is now at 94.78, still up 0.4% on the day.

On the other hand, the risk-off mood keeps the demand for traditional safe-havens strong on Tuesday. Japan's Nikkei 225 Index closed the day 1.77% lower and Germany's DAX and the UK's FTSE are both losing 0.4% at the moment. Moreover, Wall Street is looking to start the day lower with the Dow Jones Industrial Average and the S&P 500 dropping 0.4% and 1% respectively in the pre-market trading.
Etiquetas: forex, usdchf Agregar / Editar Etiquetas