It looks like USD/CHF is starting to settle in its new range, as the pair traded safely below the .9100 major psychological level. EUR/CHF also moved sideways after its recent dive and found support around the 1.2225 area. Can the franc bust out of its ranges today?
The lack of major data from Switzerland kept franc pairs stuck in consolidation yesterday. Today could be a different story as Switzerland will print its SVME PMI at 8:30 am GMT and possibly show a stronger expansion in its manufacturing sector. Analysts are expecting to see a small improvement from 54.6 to 54.6, but a higher than expected reading might be enough to push EUR/CHF and USD/CHF lower.
Don’t forget to stay tuned for any updates on the U.S. debt ceiling debacle as this could have a huge effect on USD/CHF!
The franc got a one-two punch from the Greenback and the euro yesterday despite a release of better-than-expected economic data. What’s up with that?!
Yesterday Switzerland’s SVME PMI should have supported the franc when it came in at 55.3, stronger than the previous month’s 54.6 reading. Not only that, but the U.S. government had also implemented a partial shutdown while the euro zone printed weak reports.
So why did USD/CHF and EUR/CHF show strength? We don’t know for sure, but one possible explanation is that these pairs are close to some serious technical support levels. We’ll have to wait for a few more candles to pop up in order to be sure!
Switzerland won’t be printing economic reports for the rest of the week, so keep an eye out for other news that might affect the demand for low-yielding currencies like the franc!
Who ya callin’ a loser, punk? The Swiss franc showed the U.S. dollar who’s boss, pushing USD/CHF from a high of .9078 to a low of .8994. EUR/CHF, on the other hand, was stuck in its usual range around the 1.2250 area. Can the franc keep rallying today?
There were actually no reports from Switzerland yesterday, which means that USD/CHF’s drop was mostly a result of dollar selling. As it turns out, the government shutdown in the U.S. carried on for another day, and this doesn’t spell good prospects for their economy. It didn’t help that the U.S. ADP jobs report also revealed that the labor sector is already on shaky ground.
Switzerland has no reports lined up for today so USD/CHF and EUR/CHF might simply react to U.S. and euro zone events. The U.S. is set to release its ISM non-manufacturing PMI and initial jobless claims while the euro zone has a few medium-tier events scheduled.
The franc played the Simon Says game with its counterparts as it moved to the beat of dollar and euro sentiment. USD/CHF closed below .9000 while EUR/CHF experienced a see-saw trading on EUR’s movements.
We didn’t see any economic report from Switzerland yesterday so it was easy for franc traders to buy it against the weak dollar and then play around with EUR/CHF when news in the euro zone encouraged mixed sentiment.
Switzerland won’t be releasing any economic data today, so watch out for other major news that might affect risk appetite!
Was that a pullback or what? USD/CHF put an end to its recent selloff, as the pair locked in a 75-pip gain on Friday. Let’s take a look at today’s set of reports to see if the downtrend is about to resume.
There were no reports released from Switzerland on Friday, as traders attribute the USD/CHF bounce to profit-taking ahead of the weekend. However, dollar weakness is still expected to make a comeback in the upcoming trading days as the U.S. government shutdown carries on.
Switzerland will release its foreign currency reserves report at 8:00 am GMT today. The report has been showing declines for the past four months, showing that it has been less expensive for the SNB to maintain its franc peg. Another decline could be positive for the Swissy so make sure y’all keep tabs on the actual release!
It’s two for two for the franc! Thanks to dollar and euro weakness, USD/CHF and EUR/CHF both gave up pips yesterday. Did Switzerland’s reports have any weight at all?
Not really. Switzerland only reported a slightly lower foreign currency reserves data, so the franc pairs’ moves might have been due to its counterparts rather than the franc’s price action.
Today we’re expecting to see Switzerland’s unemployment rate at 5:45 am GMT, followed by Swiss CPI and retail sales numbers at 7:15 am GMT and then SNB’s Jordan’s speech at 4:00 pm GMT. It’s a big day for Swiss reports, so you better not miss these!
Zzz… Franc price action was a snoozer yesterday, with USD/CHF lounging below the .9050 minor psychological level and EUR/CHF cruising above 1.2250. What are the chances of seeing more action today?
Not even strong data was enough to bust franc pairs out of their ranges yesterday, as Swiss retail sales showed a 2.4% jump versus the estimated 1.7% increase while the CPI came in a notch higher than the expected 0.2% uptick. The Swiss jobless rate came in line with consensus at 3.2%.
Breakout fanatics might be disappointed to find out that there are no reports due from Switzerland today so franc pairs mights stay within their current consolidation zones. Do stay tuned for any updates from Washington though, as a resolution on their budget plans could renew dollar demand.
The franc was the punching bag of two of its major counterparts yesterday as the dollar and euro bulls dictated USD/CHF and EUR/CHF’s price action.
As I mentioned in my USD update, the dollar received broad support following Janet Yellen’s nomination as the next Fed head. Meanwhile, the euro bulls were also over the moon thanks to a couple of bullish news from the euro zone.
Will the franc have its own price moves today? I’m guessing not. After all, Switzerland won’t be printing any report today. This means that you have to keep a close eye on other news that might impact risk appetite!
Like a moth to a flame! USD/CHF was drawn to the .9100 major psychological resistance yesterday, as the U.S. dollar kept recovering against its rivals. Can the Swiss franc make its own comeback?
There were no reports released from Switzerland yesterday, as USD/CHF’s rally was mostly a result of risk aversion and dollar strength. Traders are starting to speculate that U.S. lawmakers are closer to reaching an agreement on the budget, especially since the debt ceiling deadline is looming.
For today, there are still no reports due from Switzerland so the franc might be tossed around by risk sentiment once again. Market participants could start unwinding their dollar positions ahead of the weekend so watch out for some crazy movement before the trading week comes to a close!
Once again the franc failed to make any moves on its own as USD/CHF and EUR/CHF were dictated by the dollar and the euro’s price actions. Will the currency have a chance at making its own moves this week?
Not likely. The only news reports scheduled for this week is Switzerland’s PPI report at 7:15 am GMT today as well as the ZEW economic expectations due on Wednesday at 9:00 am GMT. This means that you’ll have to pay attention to what’s going on with the dollar and the euro if you’re planning on trading the major franc pairs!
Monthly PPI data for the Land of Chocolates came out lower-than-expected at 0.1% vs. 0.3% forecast, providing a short-term hit to the Swiss Franc against the Greenback. The move was a short-lived one as general risk sentiment affected the majors, and after a little bit of choppiness, USD/CHF closed only about 13 pips above the week open.
No major data from Switzerland for the Tuesday session, so the US government issues may continue to be the main market drivers, as well as the SNB’s strong adherence to the franc ceiling to protect the economy.
Tuesday was not a good day for the Swissy, as the currency lost a lot of ground to the dollar then. USD/CHF climbed above the .9100 handle and reached a high of .9179 during the London session. Is the franc in for another round of losses?
There were no reports released from Switzerland yesterday, leaving the franc victim to U.S. dollar strength. Risk-taking was off, mostly because of the prolonged government shutdown and the possibility of a U.S. debt default.
For today, Switzerland will release its ZEW economic expectations report which might provide some support for the Swissy. The figure has been climbing for the past four months, reflecting improvements in economic outlook, so another rise for September might boost the Swiss franc. Watch out for the actual release at 10:00 am GMT if you’re trading Swissy pairs!
Better-than-expected economic data? Pfft. The franc traded on its counterparts’ price action as their headlines dominated the markets. USD/CHF closed near its open price while EUR/CHF inched 17 pips higher.
Yesterday Switzerland printed its ZEW economic expectations, which blasted above market estimates with a 24.9 reading after last month’s 16.3 index figure. Too bad that it wasn’t where the franc investors’ attention were at though, since they were busy trading a low inflation report from the euro zone and an impending debt deal in Washington.
We probably won’t see any franc-induced action today as Switzerland isn’t slated to print any economic data. That doesn’t mean that you shouldn’t watch the major franc pairs though!
Saddle up, fellas! It looks like franc bulls are a-chargin’ again! USD/CHF sold off heavily in yesterday’s trading, as the pair slipped from a high of .9176 to a low of .9020. What in the world just happened?!
Switzerland didn’t release any economic reports yesterday, which means that the selloff in USD/CHF was a result of U.S. events and risk sentiment. Fortunately for the franc, the odds were in its favor yesterday as the end of the U.S. government shutdown sparked risk-taking. Aside from that, news of a debt downgrade on the U.S. by a Chinese ratings agency also pushed USD/CHF lower.
There are no reports due from Switzerland today so USD/CHF movement could depend on sentiment once again. The franc might be able to keep taking advantage of dollar weakness should risk appetite persist, but profit-taking could take place before the trading week comes to a close. Be careful out there!
Since the franc doesn’t usually get any action on a regular day, it’s not surprising that it had a muted price action against its counterparts last Friday. USD/CHF and EUR/CHF barely moved from their open prices as traders packed up early for the weekend.
The only report scheduled from Switzerland this week is the trade balance numbers tomorrow at 6:00 am GMT. Analysts are expecting a 2.32 billion CHF surplus after last month’s 1.86 billion CHF figure, but keep an eye out for any surprises!
Zzzz… USD/CHF had a lazy Monday as it simply cruised sideways above the .9000 major psychological support level. In fact, the pair was stuck in a tight range as it found resistance at the .9040 area. Will it break out today and which way can it go?
The lack of data from Switzerland allowed franc pairs to snooze yesterday, but today might be a different story as there are major market catalysts lined up.
In particular, the U.S. is set to report its non-farm payrolls figure for September at 1:30 pm GMT and this release might be enough to wake USD/CHF from its slumber. Bear in mind that the actual release could shape expectations for the upcoming FOMC decision next week, as a weak reading could be negative for the dollar while a strong reading could result in a dollar rally.
The franc pulled a double victory against the dollar and the euro yesterday as a strong Swiss data boosted the low-yielding currency. USD/CHF dropped to a five-month low while EUR/CHF closed slightly lower than its open price.
It might have helped the franc that Switzerland’s trade balance data showed a 2.49 billion CHF trade surplus, which is higher than the previous month’s 1.86 billion CHF figure and the expected 2.32 billion CHF surplus.
Will the franc’s price action make a dent on the franc pairs’ moves again today? It’s unlikely considering that we’re not scheduled to see any Swiss reports, but keep your eyes open in case we see surprises!
The floodgates have opened! After USD/CHF broke below the .9000 major psychological support level, there seems to be no stopping its decline. The pair made another strong break below consolidation and traded to a low of .8911. How low can it go?
There were no reports released from Switzerland yesterday, as USD/CHF’s price action was mostly a result of risk sentiment. And from yesterday’s moves, it appears that traders prefer the Swiss franc to the U.S. dollar in times of uncertainty!
There are still no reports due from Switzerland today, which means that risk sentiment could continue to drive price action. USD/CHF is currently consolidating above the .8900 support level, waiting for the next big catalyst that could push it over the edge.
With the Greenback and the euro making their own waves, the franc had no chance at dictating its own price action. USD/CHF ended the day unchanged while EUR/CHF closed a few pips higher than its open price.
As I mentioned in my USD update, mixed reports from the U.S. encouraged intraday reversals among the dollar pairs. Meanwhile, the euro enjoyed a bit of support from traders despite the release of slightly disappointing services PMIs from Germany and the euro zone.
We won’t see any Swiss data today so that means extra vigilance on news reports due from other major economies!
That .8900 handle is just way too strong for the franc! USD/CHF failed in its nth attempt to break below the key psychological support level, as the pair jumped up to a high of .8966 towards the end of the U.S. session. Will USD/CHF have another chance to break below .8900 today?
The lack of data from Switzerland kept the franc’s gains at bay on Friday, as USD/CHF retreated from its recent selloff. Today might be more of the same story, as there are still no reports on Switzerland’s economic schedule. Stay on your toes for U.S. releases and any potential changes in market sentiment!