EUR/CHF Sees Biggest Weekly Drop in 4 Months, EUR/USD Weakens on Dollar Strength

Over the past 2 days, the Swiss franc has rallied significantly against the Euro as a direct result of the currency?s own safe haven status. The KoF report of leading indicators was stronger than expected which has also helped, but the move in the currency pair began on Thursday. In the week ahead, we have the UBS consumption indicator and PMI from Switzerland.

Both are expected to remain strong, illustrating the overall health of the economy. The Euro on the other hand has weakened for no other reason than dollar strength. There are a ton of PMI, unemployment and consumer spending reports due out next week, which could lead to some Euro drive action.