05.03.2020 USD/CHF Daily Analysis

05.03.2020 USD/CHF Daily Analysis

  The markets opened with the USD-CHF pair trading at 0.9558 on Wednesday and closed at  0.9567. The USD strengthened due to the release of ADP's non-farm employment change and the ISM non-manufacturing PMI reports. The ADP non-farm employment change measures the monthly change in nonfarm private employment on U.S business clients. The forecast was 170,000 but the actual measured was 183,000 and was bullish for the USD. The non-manufacturing PMI, which measures the activities of services purchasing managers also measured 57.3 which was higher than forecast and also bullish for the USD.   The build-up of momentum for the USD, however, did not last as fears of the corona-virus having a further effect on the markets weakened the USD  this morning and now investors are trading bearish.