USD/CHF Daily Fundamental Analysis for October 14, 2011

On Thursday, the USD/CHF advanced as investors resorted to the dollar as a refuge after a Chinese report which showed that exports grew by the weakest pace in seven months, which raised concerns the sluggish global growth pace would continue.

Chinese trade surplus narrowed to $14.51 billion in September from $17.76 billion in August as exports slowed to 17.1%, the weakest pace in seven months, from 24.5% and imports slipped to 20.9% from 30.2%.   

Meanwhile, investors are still cautious that European leaders would be not able to contain the debt crisis ahead of the important European Council meeting on October 23.  

The ECB said the participation of private-sector banks in bailing out debt-trapped nations would yield in financial instability, noting that the turn is now on the European governments after the ECB had supported banks from collapsing since the start of the financial crisis.    

On Friday, the week ends with the release of some fundamentals from the U.S which are retail sales for July,University of Michigan confidence for August and business inventories for June at 12:30 GMT, 13:55 GMT and 14:00 GMT respectively.

Read more Forex Market Updates here!

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!