The EUR/CHF pair traded narrowly yesterday and ended the session very weak, yet during the session the pair fluctuated heavily within those narrow levels; however, the upbeat sentiment in the euro-area region in addition to the unexpected improvement in the ZEW Expectations for the Swiss economy led the pair to remain around the opening level.
Today, the EUR/CHF pair is expected to trade narrowly as usual as there are no crucial data from the Switzerland, where the eyes will be focused on the trade figures from the euro zone and also on the Spanish bond sale, as investors are still tracking whether the improvement in the bond auctions are meant to last or not.
The ECB will release the monthly report for January at 09:00 GMT. At the same time we have the Current Account for November which is likely to improve from the previous recorded 7.5 billion euro deficit in October after the reported huge trade surplus on the back of exports gains.
Auctions:
09:30 GMT Spain sells bills
Originally posted here
