You win some, you lose some. The Swissy had a mixed performance last Friday as it extended its losing streak against the Greenback but managed to sneak in some gains against the euro. USD/CHF ended the week at .9350 while EUR/CHF found resistance at 1.2500 and closed at 1.2455.
There were no major releases from Switzerland last Friday, leaving USD/CHF and EUR/CHF to take their cues from U.S. data and EU events respectively. Weaker than expected U.S. consumer sentiment data for December triggered a run of risk aversion, which boosted the safe-haven U.S. dollar against the Swiss franc. On the other hand, Eurogroup President Juncker’s remarks saying that the euro was trading too high put an end to the euro’s rallies for the week.
The only report to be released by Switzerland this week is its ZEW economic expectations figure, which is due on Wednesday. With that, make sure you keep close tabs on risk sentiment and important market updates if you’re trading the Swissy pairs this week. I’ll keep y’all posted!
The Swiss franc was on stealth mode yesterday, sneaking wins and snatching pips from the euro and the dollar. The markets were relatively quiet, but that didn’t stop it from pushing EUR/CHF down 33 pips and USD/CHF down 31 pips. Talk about being a ninja!
It seems market sentiment was responsible for yesterday’s gains, as neither Switzerland, the U.S., nor the euro zone published anything noteworthy.
The absence of U.S. traders (who were celebrating Martin Luther King day) was also felt by the markets yesterday. But will their return from the three-day weekend be felt today? We’ll just have to find out later in the New York session!
The Swissy managed to score another day in gains against the Greenback as USD/CHF dipped to a low of .9275 before closing 8 pips below the .9300 handle. Will the franc be able to hold on to its gains today?
Switzerland didn’t release any economic reports yesterday yet the Swissy managed to benefit from stronger than expected euro zone data. As it turns out, Germany’s ZEW economic expectations report came in above consensus and so did the ZEW figure for the entire euro zone. On top of that, the U.S. Republicans’ vote to extend the debt ceiling deadline triggered a U.S. dollar selloff, much to the Swissy’s advantage.
It’s Switzerland’s turn to release its ZEW economic expectations report at 11:00 am GMT today. The figure improved to -27.9 to -15.5 in November and we could be in for another improvement for December. If that’s the case, we could see the Swissy gain further ground against the U.S. dollar in today’s trading. Good luck!
Can you say BORING? After an entire day of trading, USD/CHF finished just 4 pips above its opening price while EUR/CHF ended just 6 pips higher. Let’s see if the Swiss franc will come to life today!
Sadly, the ZEW Economic Expectations report failed to spark activity in franc pairs, even though it showed a big improvement and rose from -15.5 to -6.9. But although the outlook for the economy grew rosier for the fourth straight month, experts say we probably won’t see any major changes in the Swiss economy over the next six months.
Looking forward, it seems like we’ll have to trade based on risk sentiment since Switzerland won’t be rolling out any reports. In the meantime, y’all should check out what the U.S. and euro zone have to offer! Peace out and happy pipping, folks!
Aah, the Swiss franc kept on chillin’ like ice cream fillin’ on the charts. USD/CHF stayed in its range, finishing the day just 3 pips below its opening price.
There weren’t any economic date released from Switzerland which left the franc at the mercy of market sentiment. Today our forex calendar is once again blank for reports for the currency. With that said, make sure you get a good gauge of the market’s mood before you pull the trigger.
The franc continued to have its way with the dollar as USD/CHF posted its fourth decline in five days. With help from an ugly U.S. report, the franc staged a late rally, forcing the pair to slip 21 pips and close at .9264.
Sometimes, no news is good news, at least for the franc! Even though Switzerland didn’t have anything for us to digest last Friday, it was able to put up decent numbers against the dollar.
Let’s see if this pattern will continue today! Once again, we ain’t getting any numbers from Switzerland, so you’ll have to check out what the U.S. has to offer if you plan on trading USD/CHF.
Pretty quiet day for the franc, as USD/CHF pretty much stayed within range yesterday. By the end of the day, the pair was trading at .9263, down 16 pips for the day.
Chances are we’ll see more of the same type of trading today, as our economic calendar is blank. Nevertheless, be sure to keep those stop losses in check and always practice good risk management techniques!
The Swiss franc has got swag! Well, at least in yesterday’s trading. USD/CHF finished the day lower at .9220 after opening at .9263. Boo yeah!
It would seem that the currency benefited from the good vibes resounding in the financial markets. Thank goodness for risk appetite, eh?
Today, we have a leading indicator due to be released from Switzerland. At 8:00 am GMT, the KOF economic barometer is anticipated to print at 1.21 for January, indicating that the economy could improve in the next few months.
That’s what you call hitting one out of the park! With the dollar striking out yesterday and the franc bulls bringing their A-game, USD/CHF dropped over 100 pips to finish the day trading at .9113. Now that the pair is approaching a major support level, could we be in for a reversal today?
The bulls were able to overcome the poor results of the KOF economic barometer, which printed a score of just 1.05. Not only did this miss the forecasted reading of 1.21, but it was major regression from the 1.29 figure we saw the month before.
Nevertheless, the franc benefited from good news from the euro zone, as well as overall dollar weakness.
We’ve got nothing lined up on our economic calendar today from Switzerland, but make sure you keep tabs on risk sentiment, as this seems to be the major driver of Swissy trading lately.
The Swiss franc kept on chillin’ like a villain in the bulls’ turf in yesterday’s trading. USD/CHF finished lower for another day, closing the day at .9103 from .9106.
Because of Switzerland’s close proximity to the euro zone, its currency was able to benefit from all the euro lovin’ on the charts. If you’re looking to trade the franc today though, you would need to keep tabs on the SVME PMI report aside from market sentiment. Due at 8:30 am GMT, a figure higher than the 50.5 forecast may just help the franc extend its gains!
Due to the number of economic reports released, USD/CHF experienced a very wild ride last Friday. The pair began the day in consolidation mode and moved within a very tight horizontal channel. When the London session opened, USD/CHF burst into life and broke out lower. Then, during the New York session, the mixed U.S. employment led to a rally in the pair. By the end of the day, the pair was sitting at .9077, just 20 pips lower from its opening price.
The SVME Purchasing Managers’ Index from Switzerland came in with an upside surprise. It printed a reading of 52.5, notably higher from the 50.5 forecast. It was also a welcome improvement from the previous month’s reading of 49.2.
No data scheduled to be released from Switzerland today, so don’t expect a lot of volatility in the Swissy. Keep a close eye on the previous week highs and lows, as they could serve as this week’s major inflection points.
After a wild ride last Friday, it would seem like the Swiss franc already ran out of fuel in yesterday’s trading. USD/CHF still finished the day lower at .9081, but the franc only scored a 5-pip win.
The lack of economic reports from Switzerland left the currency’s price action as boring as a rainy day. But don’t fret! If you’re looking to trade the franc today, you can sink your teeth into the Swiss trade balance report for December. Due to be released at 7:00 am GMT, the report is anticipated to show a 2.74 billion CHF surplus. A better-than-expected figure could send USD/CHF lower so make you don’t miss it!
Despite USD/CHF’s up and down price action yesterday, the pair still ended up pretty much where it began. USD/CHF began the day at .9083, fell to .9073, surged as high as .9118, and then closed the day barely changed at .9082.
Switzerland’s trade balance was released yesterday. Unfortunately, it was a major disappointment as it showed that the country’s trade surplus for December has fallen to 1 billion CHF. In the month prior, the trade surplus stood at a whopping 2.90 billion CHF.
According to the data, the economic slowdown in the euro region hurt the demand for Switzerland’s goods like watches and electrical products. Exports actually slipped 10.2% from the year before.
No data on Switzerland’s calendar today, so the Swissy’s price action will most likely be driven by events taking place in the euro zone. Check out my euro zone daily commentary to find out what’s going to happen in the region today.
With no data out from Switzerland yesterday, the franc just lollygagged against its counterparts. It lost a couple of pips to the dollar, pound, and the yen, but it gained 35 pips on the euro.
Let’s see if the franc can get some action today when Switzerland prints its SECO consumer climate at 7:45 am GMT and foreign currency reserves data at 9:00 am GMT. The SECO report is expected to print higher than its previous release, while the foreign currency reserves data could give us a glimpse on how aggressive the SNB has been in protecting the value of the franc.
Good luck and good trading, kids!
The Swiss franc slacked off on the charts yesterday, allowing the dollar to take control of USD/CHF. Thanks to a late surge in the New York session, the pair ended 83 pips higher at .9179.
You’d think the franc would be able to put up better numbers than that after seeing its SECO consumer climate report print an improvement, but apparently, the markets weren’t impressed at all! The index rose from -17 to -6 in the three-month period that ended in January, marking a significant rise in consumer sentiment.
Meanwhile foreign currency reserves fell for the fourth straight month in January, revealing a drop from 427.2 billion CHF to 427.0 billion CHF. Since the franc has been losing ground in light of recent improvements in the euro zone, the SNB has had a bit of leeway in defending the EUR/CHF floor at 1.2000, allowing it to hold less and less foreign reserves.
Today, the action continues with the Swiss unemployment rate due at 6:45 am GMT. Look for it to rise from 3.0% to 3.1%. After that, we’ll pick up with the retail sales report (expected to print a 3.2% rise following the previous month’s 2.9% uptick) at 8:15 am GMT.
What economic data? The franc showed mixed price action against its counterparts last Friday even when Switzerland printed some promising reports. USD/CHF ended the day only 7 pips below its open price, EUR/CHF slipped by 46 pips, and GBP/CHF climbed 66 pips. What’s up with that?
As I mentioned a couple of times before, it might be that the currencies are trading on their individual fundamental outlook. The Swiss franc could have a bit of advantage in this game though, especially when Switzerland’s unemployment rate remained at 3.1% and its retail sales shot up by 5.1% in December.
Switzerland has an empty economic cupboard today so the franc will likely trade on its low-yielding status. Tomorrow is another day though, when we’ll see the country’s inflation numbers and hear a speech from SNB head honcho Jordan at around 9:00 am to 11:00 am GMT.
The Swissy was able to erase some of its recent losses against the Greenback even after USD/CHF gapped up over the weekend. With the Swiss CPI on tap for today, where could the Swissy be headed? Could we see a break above .9200?
The lack of economic data from Switzerland yesterday kept USD/CHF range-bound somewhere around the .9175 mark. Switzerland is set to release its monthly CPI figure today at 9:15 am GMT and this could trigger a breakout either way.
The report chalked up a 0.2% decline for December and is expected to show an even larger dip in consumer price levels for January. Analysts are estimating a 0.3% drop for the month, which would mark the third consecutive monthly decline in inflation. A weaker than expected reading could be negative for the Swissy and possibly trigger an upside breakout from .9200 as it would keep the Swiss economy in deflation.
While the other major currencies were on a wild see-saw ride, the franc was stuck in Snoozeville yesterday. It popped up dojis against the dollar, yen, and the pound but lost 36 pips on the euro. What gives?
It seems that SNB head honcho Jordan was to blame. In his speech yesterday, he reiterated that the franc’s 1.2000 cap would remain and that he’s expecting the low-yielding currency to weaken further against the euro.
Only Switzerland’s PPI report at 9:15 am GMT is scheduled for today, so better watch the newswires closely for any economic events that might influence the franc’s price action!
The Swissy tried to hold steady against the Greenback yesterday but ended up lagging a bit behind. USD/CHF opened at .9168, reached a high of .9197, then closed at .9175. What’s in store for the Swissy today?
The January Swiss PPI release barely had any impact on the franc’s price action as the actual figure missed expectations of a 0.2% increase and showed a 0.1% decline instead. This was also weaker than the previous reading which showed a 0.1% uptick for December. Since producer price changes tend to be reflected on retail prices of goods, the weak PPI could be indicative of another fall in consumer prices later on.
There are no reports due from Switzerland for the rest of the trading week, which suggests quiet trading ahead of the upcoming G20 Summit. Stay on your toes for any important market updates which could have a huge impact on sentiment though!
As usually, just like its best buddy the euro, the franc found itself losing out versus the safe haven dollar yesterday. USD/CHF ended the day .9227, 51 pips higher from its opening price during the Asian session.
The Swissy ended up being indirectly negatively affected by euro zone’s poor GDP figures. The first estimate of euro zone’s Q4 2012 GDP showed that the region contracted 0.6%. Market analysts were only expecting the economy to have shrunk by 0.4%.
No red flags on Switzerland’s forex calendar today but I think we’ll still see quite a bit of volatility in the charts. Traders could trigger some movement as they close their positions ahead of the weekend. Be careful, folks!