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26 Feb 2013
Forex: USD/CHF rises on Bernanke, eyes on Bersani
The USD/CHF, held by 0.9300, jumped as Fed's Bernanke gave a less dovish speech before the US Senate Banking Committee. The Central Bank's Chairman defended QE until substantial labor market gains. The pair is moving higher, currently at 0.9328.
Conference Board's consumer confidence jumped from 58.6 to 69.6 in February, beating consensus of 61.0. The housing index of New Home Sales rose 15.6% from 0.378M (revised from 0.369M) to 0.437M in January, surprising consensus that was pointing to 0.381M. Richmond Fed Manufacturing Index rose to positive ground in February, from -12 to 6, beating consensus of -4.
Now, the market will be focused on Italy's Democratic Party leader Bersani that is going to speak at 16:00 GMT. Investors want to know his party's position on the current political stalemate.
Mataf.net analysts point to resistance at 0.9325, 0.9340 and 0.9360. On the downside, supports might be found at 0.9285, 0.9265 and 0.9230.
Conference Board's consumer confidence jumped from 58.6 to 69.6 in February, beating consensus of 61.0. The housing index of New Home Sales rose 15.6% from 0.378M (revised from 0.369M) to 0.437M in January, surprising consensus that was pointing to 0.381M. Richmond Fed Manufacturing Index rose to positive ground in February, from -12 to 6, beating consensus of -4.
Now, the market will be focused on Italy's Democratic Party leader Bersani that is going to speak at 16:00 GMT. Investors want to know his party's position on the current political stalemate.
Mataf.net analysts point to resistance at 0.9325, 0.9340 and 0.9360. On the downside, supports might be found at 0.9285, 0.9265 and 0.9230.