The USD/CHF continued its upside trend in the week ended Jan. 6 as the dollar took advantage of the safety demand amid the undergoing concerns from the euro area.
Last week, concerns aggravated in the euro area, overshadowing the improvement in theU.S.data. Fundamentals from the euro area showed contraction in manufacturing and services for the fourth month and drop in confidence to two-year low while the main cue was the decline in demand on German bonds and rise in French bills yield at auctions.
This week, the main focus will be unemployment and retail sales data fromSwitzerlandwhile theU.S.will release retail, trade and confidence, as well as other data.
However, the pair is expected to be more impacted by the general sentiment in the market which is tracking the latest updates from the euro area asItalyandSpainprepares to sell debt.
For this week, the release of the data will be as follows:
Monday Jan. 9:
As of 06:45 GMT, the Swiss economy will release the only data for the week which is unemployment for the month of Dec. followed by retail sales, specifically at 08:15 GMT, for the same month, while the United Stateslacks fundamentals.
Tuesday Jan. 10:
TheU.S.economy will release less important data, including wholesales inventories as of 15:00 GMT.
Wednesday Jan. 11:
TheU.S.will release MBA mortgage applications for Jan. 6 at 12:00 GMT followed by Fed’s Beige Book at 19:00 GMT.
Thursday Jan. 12:
As of 13:30 GMT, the U.S economy will release a lot of fundamentals; retail sales, due at 13:30 GMT, are expected advance 0.2% in Dec. from the prior 0.2% rise.
At the same time, initial jobless claims for the week ended Jan. 7 and continuing claims for the week ended Dec. 31 will be available. At 19:00 GMT, the monthly budget statement for Oct. is predicted to show a deficit of $79.0 billions.
Friday Jan. 13:
The week ends with the release of trade balance at 13:30 GMT, where expectations refer to a widened deficit to $44.9 billion in Nov. from $43.5 billion deficit a month earlier. U.S. University of Michigan confidence, which is due at 14:55 GMT, is estimated to increase to 70.4 in Jan. compared with the prior reading of 69.9.
Originally posted here
