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US construction spending drops 0.6% in June

Spending on construction in the US fell 0.6% in June  to a seasonally adjusted annual rate of $1.11T, the least in a year, the Commerce Department said Monday.

Reading came in below forecast of a 0.6% increase, while May's initially reported decline was revised from 0.8% to 0.1%.     

June’s declines were evenly spread across the private and public sectors.

USD/CHF remains well-offered below 0.9700 after US ISM release

Release of US ISM manufacturing PMI data for July failed to provide any respite, with the USD/CHF pair trading just few pips off session low. The Ins
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US Dollar keeps the upside despite ISM

The greenback, tracked by the US Dollar Index, remains firm at the beginning of the week, currently meandering the upper end of the range around 95.80
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