Economic Events:
Today is the second day of the World Economic Forum of Business and Government Leaders in Davos.
10:30 CHF KOF Leading Indicators -0.06 0.01
The KOF Leading Indicators Index is designed to predict the direction of the economy over the following six months. The index is a composite reading of 12 economic indicators related to banking confidence, production, new orders, consumer confidence and housing.
A higher than expected reading should be taken as positive/bullish for the CHF, while a lower than expected reading should be taken as negative/bearish for the CHF.
13:15 EUR ECB President Draghi Speaks
European Central Bank (ECB) President Mario Draghi (November 2011 – November 2019) is to speak. As head of the ECB, which sets short term interest rates, he has a major influence over the value of the euro. Traders watch his speeches closely as they are often used to drop subtle hints regarding future monetary policy and interest rate shifts.
His comments may determine a short-term positive or negative trend.
EUR/CHF Fundamental Analysis Jan. 27, 2012, Forecast
Analysis and Recommendations:
EUR/CHF is trading 1.2068 down -0.0011(-0.09%)
The Franc remained as it was with with economic data to support a move up. The World Economic Forum is meeting in Switzerland this week. The Swissie was bouyed on US data.
The euro surged today on news of an almost settlement with Greek creditors. The IIF returned to Greece to finish negotiations after they agreed to reduce the value of the coupon to 3.75.
The new focus is on Portugal. Spain successful held a bond auction today.
Swiss officials continue to state that they will support the currency at the 1.20 level.
The World Economic Forum is meeting in Davos this week
Upcoming Govt Bond Sales Dates
Jan 27 10:10 Italy BOT auction
Originally posted here
