As of 06:45 GMT, the Swiss economy will release unemployment for the month of Oct. followed by CPI, specifically at 08:15 GMT, for the same month, while the United States lacks fundamentals.
The Swiss data is expected to have an impact on the pair’s movements as investors are carefully watching fundamentals from the Swiss economy, especially as data released last week showed deepening contraction in manufacturing to 46.9 in Oct. from 48.2 in Sep.
Recently, there has been mounting pressure on the SNB to continue its battle to curb the franc’s appreciation through raising the franc’s cap against the euro to 1.40 from the current 1.20, especially as recent earnings reports by some Swiss companies showed that they were affected by the franc‘s runaway.
Last week, the Fed lowered growth forecasts and raised estimates for unemployment, whilst revealing that purchasing mortgage-backed securities is a valid option for the Fed to boost the slackening recovery.
However, the main focus will remain on the euro area to see the latest development from Greece and other highly indebted nations in the region.
