USD/CHF’s price action yesterday was as wild as a rollercoaster ride. The pair began the day at .9292, experienced a sudden drop to .9262 during the Asian session, climbed above .9300, and then sold-off once again during the U.S. session. At the end of the day, the pair was sitting at .9274.
The only data released in Switzerland yesterday was the ZEW Economic Expectations Survey. It printed a reading of -34.9, slightly worse than the previous month’s -33.3. The survey measures how optimistic or pessimistic investors and analysts are about Switzerland’s economy. A positive reading means that investors and analyst are generally optimistic while a negative reading suggests otherwise.
No economic reports are scheduled for release today, but we still could see a lot of volatility on UDS/CHF. There are a bunch of high profile reports in both the euro zone and the U.S. (e.g., German Flash Manufacturing PMI, Philly Fed Manufacturing Index, etc.). They could indirectly affect USD/CHF’s price action.
The Swiss franc shared the fate of other higher-yielding currencies, falling victim to the dollar’s strength. USD/CHF ended the day higher at .9330 after opening at .9279.
We didnt’s have any economic report on tap for the Swiss franc which made the currency vulnerable to market sentiment. Unfortunately, risk aversion was in play yesterday no thanks to weaker manufacturing data from China.
We still don’t have anything scheduled from Switzerland today so make sure you keep tabs on market sentiment, ayt? Peace!
The Swissy’s price action last Friday was as mixed as a bag of Trail Mix. The currency was barely changed against the safe haven Greenback but it was sold-off versus the euro. USD/CHF ended the U.S. trading session just a pip lower from its opening price during the Asian session while EUR/CHF rose to 1.2112 from 1.2098.
The Swiss National Bank (SNB)’s quarterly bulletin was published last Friday. It noted that there was a slowdown in global growth during the 2[SUP]nd[/SUP] quarter of this year as advanced economies went to a halt and most euro zone nations The SNB also pointed out that the risks that this would continue remain very high.
Internally, the bulletin stated that growth has somewhat slowed down due weak exports. The economic outlook was said to be uncertain because of how Switzerland was exposed to euro zone’s debt problems.
The only data scheduled for release this week is the KOF Economic Barometer. It’ll be published on Friday and it’s expected to print a reading of 1.54.
Guess who’s in the mixed price action bandwagon yesterday? The franc is! Since no major report moved the markets, the franc’s price action depended on its counterparts. USD/CHF rose by 24 pips on risk aversion, while EUR/CHF slipped by 11 pips to 1.2101.
No reports were released from Switzerland yesterday, but low-yielding currencies like the dollar gained on its high-yielding counterparts as traders worried about growth in the euro zone, the U.S., and even China. This is probably why EUR/CHF also weakened yesterday.
Today we’ll see Switzerland’s UBS consumption indicator report at 6:00 am GMT. Though the report doesn’t usually do anything significant for the franc pairs, it would still be interesting to see if the consumer-based economic indicators managed to outperform its 1.55 reading in July.
It was one wild rollercoaster ride for the Swiss franc yesterday. At first, the currency was sold-off heavily due to pessimistic comments from the SNB Chairman. Midday, the franc was able to recover and reverse its losses. And then, just when you thought volatility was over, risk aversion struck the markets brought the Swissy down again! At the end of the day, USD/CHF was sitting at .9377, 15 pips higher from its day open price.
The UBS Consumption Indicator released yesterday pointed to a weak August. It came in with a reading of 1.03, significantly lower than the previous month’s 1.48 (revised lower from 1.55).
No market-moving data on Switzerland’s forex calendar today, so we could see the Swissy take a break from all the volatility. Keep an eye out on significant support and resistance levels as they could possibly hold.
Switzerland didn’t provide any fireworks in terms of economic data yesterday, so the franc bulls and bears were busy paying attention to its counterparts. USD/CHF inched another 20 pips higher at .9397, while EUR/CHF slipped by 12 pips to 1.2089.
The franc traders certainly had no trouble playing the risk aversion theme yesterday. As I mentioned in my updates for the other major currencies, risk aversion in the euro zone made it easy for traders to sell high-yielding currencies against the low-yielding ones.
Since Switzerland won’t be releasing any economic report again today, we might see risk sentiment dominate the franc’s price action once again. Just remember to prepare and stick to your trading plans when you trade, aight?
Let’s go, Swissy, let’s go! The Swiss franc was able to take advantage of the rebound in risk-taking yesterday as USD/CHF found resistance at the .9400 area and slid down to a low of .9361. The pair closed at .9374 at the end of the U.S. session.
Switzerland didn’t release any economic data yesterday, but news of Spain’s recently released austerity reformsand budget plans for 2013 seemed to calm investors’ fears. This was enough to restore traders back to their risk-taking selves, allowing the Swissy to chalk up a win against the Greenback after losing for three days in a row.
There are no reports due from Switzerland today, which means that the Swissy could be extra sensitive to risk sentiment and news from the euro zone again. Stay on your toes!
With risk aversion dominating price action last Friday, it’s no surprise that the franc lost to its fellow low-yielding Greenback but bagged pips against the euro. USD/CHF shot up by 31 pips, while EUR/CHF capped the day 18 pips lower than its open price.
It didn’t hurt that Switzerland’s KOF economic barometer printed at 1.67 in September, a bit higher than August’s 1.59 reading. Risk aversion did most of the work for the franc though, as traders were engrossed with how Spain’s bank stress tests would affect its bailout prospects.
Switzerland will start the week with a busy schedule as it releases its retail sales numbers at 7:15 am GMT followed by its SVME PMI report at 7:30 am GMT. Both reports have historically affected the franc pairs in the first few hours of their releases, so make sure you tune in and get a piece of all the action!
Score one for the Swissy! The franc was able to cash in some gains against the Greenback yesterday as USD/CHF closed at .9382, 28 pips down from its .9410 day open price. Will the Swissy be able to hold on to its gains and go for more?
It’s surprising that the Swiss franc was able to end higher against the Greenback yesterday since Switzerland printed weaker than expected SVME PMI. The figure came in at 43.6, lower than the estimated 47.6 reading and the previous 46.7 figure. This goes to show that the contraction in Switzerland’s manufacturing industry was deepening and was much worse than estimated.
There are no reports on Switzerland’s calendar today, which means that the Swissy could be heavily influenced by risk sentiment. Keep your eyes and ears peeled for any important updates!
The Swiss franc may have stolen 17 pips away from the dollar, but it couldn’t help but give up 6 pips to the euro. Will we see more mixed results today?
Switzerland didn’t publish anything new yesterday, leaving the Swissy to trade according to general market sentiment. Sadly, it looks like we may get more of the same today, as the economic calendar remains blank for Switzerland.
In the meantime, if you’re looking for a catalyst for big moves on USD/CHF, you might want to check out the reports the U.S. is set to publish later in the New York session. Word on the street is that it’ll be rolling out a couple of heavy hitters. Read all about it in my USD commentary!
After two consecutive days of rallying against the U.S. dollar, the Swiss franc had to take a break yesterday as USD/CHF closed in the green. The pair closed at .9387, 22 pips up from its .9365 open price. Will the franc be able to bounce back today?
There were no economic reports released from Switzerland yesterday, leaving U.S. economic reports to dominate USD/CHF price action. As it turns out, the U.S. ADP figure came in better than expected for September, leading traders to hope for a strong NFP figure and boosting the Greenback in the process.
Up ahead, there are no reports due from Switzerland again, which means that USD/CHF could be driven by risk sentiment and U.S. data. Bear in mind that both the ECB and BOE are set to make their monetary policy decisions, which could have a huge impact on sentiment, while the U.S. will release its initial jobless claims and FOMC meeting minutes. Be careful trading out there!
At long last! After getting rejected at the support level around .9350 multiple times, the Swiss franc was finally able to rally past the minor psychological handle in yesterday’s trading. In fact, USD/CHF closed the day at .9305 after opening at .9387.
I have a feeling that the currency’s price action will continue to be dictated by market sentiment today given that our forex calendar still doesn’t have anything from Switzerland. So be sure you’re on your toes for the NFP report which is due later at 12:30 pm GMT as its outcome could determine whether or not the franc would extend its gains against the dollar.
Unlike the rest of the forex market, USD/CHF was pretty chill on Friday, as the pair pretty much stuck within its daily range. USD/CHF traded within a range of 50 pips, and eventually ended the day at .9297, down just 8 pips from its opening price.
For today, we’ve got the monthly CPI report on tap at 7:15 am GMT. Word on the street is that consumer prices rose by 0.3% in the past month. To be honest, I don’t expect the markets to groove to this report, but as my momma always said, better safe than sorry!
The markets pushed and pulled the Swissy about yesterday, leading it to weaken against the dollar and strengthen against the euro. While USD/CHF rose 35 pips to .9332, EUR/CHF slipped down 8 pips to land at 1.2103.
Even though Switzerland broke its recent silence by publishing a couple of reports, it didn’t really do much to rile up the markets and get the Swissy to move. Its unemployment rate unexpectedly held steady at 2.9% last month, even as experts forecasted it to tick up to 3.0%. Meanwhile, inflation picked up as the CPI rose from 0.0% to 0.3%, just as expected.
Nothing on the docket from Switzerland today. For now, it would probably best for you to track the market’s risk appetite if you plan on trading the Swissy. Good luck, fellas!
Ka-chow! The Swiss franc got blinded by a flash of risk aversion yesterday and took a huge hit versus the dollar. By the end of the day, USD/CHF was trading at .9314, up a whopping 83 pips on the day.
Could we be in for more franc weakness today? SNB chairman Thomas Jordan will be speaking at a forum later at 3:00 pm GMT. Be aware that the SNB is notorious for jaw-boning and talking down the value of the franc, so make sure you stay on your toes when Jordan is speaking. He may just hint at a raising of the EUR/CHF peg!
Swiss franc’s got swag! Despite bad news from the euro zone, the currency still held steady against the dollar. USD/CHF traded lower after tapping an intraday high of .9433, ending the day 41 pips below its opening price at .9383.
It must have helped the franc that SNB Chairman Jordan reiterated that the central would keep the cap on EUR/CHF still at 1.2000, saying that it is the right policy.
I wonder if the currency will find enough demand in today’s trading given that we don’t have anything scheduled from Switzerland. With that said, don’t be surprised to see the franc react to market sentiment on the charts. Good luck!
Now that’s how you run up the score! With the dollar taking a beating across the chart, the franc bulls were able to take complete advantage, helping push USD/CHF down to .9348, 35 pips below its opening price.
As usual, we have no economic data lined up from Switzerland today, so your best bet would be to keep tabs on what’s happening in the euro zone. Pay special attention to Spain and Greece, as any developments from those two countries will most likely dictate trading flows to end the week.
The rumor mill had the Swiss franc flexin’ its muscles on Friday. Talks that a Spanish bailout and a PBOC rate cut would happen over the weekend spurred risk appetite and allowed USD/CHF to trade lower. By the end of the New York session, the pair had settled 14 pips below its opening price at .9334.
Save for Switzerland’s PPI report which is eyed to come in at 0.3% (later at 7:15 am GMT), there are no other events on tap for the Swiss franc. This could mean that the currency would remain vulnerable to market sentiment. With that said, keep in mind that the currency usually rallies when risk appetite is up. Good luck!
USD/CHF’s price action yesterday was a doozy! The pair rallied strongly during the Asian session due to broad dollar strength but quickly reversed its gains once the European trading session began. It closed the day at .9332, barely changed from its day open price at .9339.
Switzerland’s Producer Price Index (PPI) was published yesterday. Even though it came in just as expected at 0.3%, it was considerably lower than the 0.5% rate sent he previous month.
No major news releases today so the Swissy could simply move sideways today. Watch out for the previous day’s highs and low, as they could serve as today’s inflection points. Good luck!
With risk appetite dominating market sentiment, there was just no stopping the Swiss franc in yesterday’s trading. USD/CHF tapped its 5-month low at .9258 before finally settling at .9258, 72 pips below its opening price.
Optimism over a Spanish bailout allowed the franc to rally to a new monthly high. However, some analysts warn to be wary about the rally in higher-yielders because such talks are nothing but rumors.
I wonder if the currency would be able to extend its gains against the dollar in today’s trading. If you plan on trading USD/CHF, keep in mind that the ZEW Economic Expectations report for September will be announced later at 9:00 am GMT. A figure better than August’s reading of -34.9 would indicate optimism among investors and could therefore be bullish for the Swiss franc. Don’t miss it!