- USD / CHF is rising modestly after closing flat on Monday.
- The US Dollar Index remains in positive territory above 92.30.
- ISM and IHS Markit will release the services PMI reports for June.
The pair USD/CHF closed the first day of the week unchanged as trading conditions remained low due to the Independence Day holiday in the US With the dollar gaining strength on Tuesday, the pair rose to a daily high of 0.9246 before going into consolidation. At time of writing, the pair was up 0.1% on the day at 0.9228.
The focus shifts to US services PMI data.
Amid a lack of fundamental drivers, the US Dollar Index, which closed slightly above 92.20 unchanged, is rising Tuesday and helping USD / CHF stay afloat in positive territory. At the moment, the US Dollar Index is up 0.12% to 92.34.
Later in the session, IHS Markit will release its final reading of the June Services PMI and Composite PMI. More importantly, the ISM will also publish the PMI report for services. Market participants will closely follow the Prices Paid component of the ISM report. Should this reading point to a strengthening of input price pressure in the service sector, the USD could continue to outperform its rivals in the second half of the day.
Technical levels
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