(RTTNews) - The dollar was mixed on Wednesday, after the Swiss National Bank unexpectedly cut interest rate, calling the franc "massively overvalued" at present. Even with the rate cut, the Swiss franc was only marginally weaker this morning. A day after President Obama signed a bill raising the nation's debt ceiling, Moody's Investors Service on Tuesday confirmed the 'Aaa' government bond rating of the United States. The dollar improved to CHF 0.7775 versus the Swiss franc, edging away from a record low near CHF 0.76. At the same time, the buck slipped to $1.4330 versus the euro, down almost two cents from last night's level. Eurozone retail sales growth topped expectations in June due to a broad based recovery in food and non-food sectors. Retail sales rose 0.9 percent month-on-month, partly offsetting May's 1.3 percent fall, data from Eurostat showed Tuesday. Economists had expected only 0.5 percent increase for June. Activity in Germany's service sector increased at the slowest pace in seventeen months in July, final data from a survey conducted by Markit Economics and BME showed Wednesday. The seasonally adjusted Markit/BME purchasing managers' index (PMI) for the service sector dropped to 52.9 in July from 56.7 in June. The ADP will release its private non-farm payroll employment report at 8:15 am ET. The consensus estimates call for an addition of 86,000 jobs by the sector in July. At 10 am ET, the Commerce Department is due to release its report on factory goods orders for June. Economists estimate a 1 percent drop in orders for factory goods. Around the same time, the Institute for Supply Management is set to release the results of its non-manufacturing survey. The non-manufacturing index is expected to slip slightly to 53 in July from 53.3 in June.

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