USD/CHF Daily Fundamental Analysis for July 29, 2011

The week ends with the release of important data from the U.S. as 2q annualized GDP, due at 12:30 GMT, will show an ease to 1.7% from 1.9% in the first quarter, according to median forecasts.UniversityofMichiganconfidence will be available at 13:55 GMT with projections referring to an incline to 64.0 in July from the prior 63.8.

Despite that all attention is on theU.S.debt ceiling issue, the U.S. GDP data is expected to have an impact on the pair’s movements if it held any surprise, especially if it came lower than expectations as this will add to theU.S.agony.

A slowdown in growth is expected, as second-quarter data showed deterioration, thus in the case of worse than expected the dollar is predicted to face some downside pressure.

Yet, news related to the debt ceiling are expected to have more effect on the pair, where further indecision amongU.S.policy makers is predicted to push the dollar towards more record lows.

On Thursday, data released from the U.S. showed that initial jobless claims slipped to 398,000 on July 23 from 422,000 a week before, while pendi

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