HomeContributorsFundamental AnalysisSwitzerland's GDP Grew In The Third Quarter Of 2019

Switzerland’s GDP Grew In The Third Quarter Of 2019

For the 24 hours to 23:00 GMT, the USD slightly declined against the CHF and closed at 0.9987.

In economic news, Switzerland’s seasonally adjusted gross domestic product (GDP) advanced 0.4% on a quarterly basis in 3Q 2019, following a rise of 0.3% in the previous quarter.

In the Asian session, at GMT0400, the pair is trading at 0.9983, with the USD trading a tad lower against the CHF from yesterday’s close.

The pair is expected to find support at 0.9977, and a fall through could take it to the next support level of 0.9972. The pair is expected to find its first resistance at 0.9992, and a rise through could take it to the next resistance level of 1.0002.

Looking forward, investors would keep an eye on Switzerland’s KOF leading indicator for November, scheduled to release a while.

The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.

GCI Financial
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DISCLAIMER : GCI's Daily Market Commentary is provided for informational purposes only. The information contained in these reports is gathered from reputable news sources and is not intended to be used as investment advice. GCI assumes no responsibility or liability from gains or losses incurred by the information herein contained.

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