The EUR/CHF starts a new week on Monday with little market focus on the pair as it still lacks major momentum and even with the heavy volatility and the euro rally seen last week the pair ended the week nearly flat.
Investors have little faith in favoring the euro over the franc amid this time of uncertainty, and even as the SNB set the floor for the pair, the risk is not worth taking for investors that still see the franc the needed haven even if the euro recovers on the announced EU plans to contain the debt crisis.
We still see the pair to continue to trade within a limited tight range and only capable of trending to the upside with speculation for a new SNB move.
The week from the euro area starts with the CPI estimate for October at 10:00 GMT which is expected to ease back to 2.8% from 3.0%.
Also the euro area unemployment is due at the same time which is expected to hold at 1.0% in September.
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