By FXEmpire.com

Analysis and Recommendations:

The EUR/CHF remains locked in this never ending battle between the euro bears and the SNB. The pair has stayed within a few pip range since April 5th. The pair are trading now at 1.2009 down from the 1.2012 of yesterday. The euro is weak against all of its counterparts, but the true weakness is not established here because of the SNB floor.

Outside the political arena there is little in the way of eco data due to affect this pair. It will all be about global sentiment and the movement to safe harbors. Possibly at the end of the week, there might be some eco data to support any movement.

In the meantime, market sentiment is negative towards the euro, so any of its partners should gain strength. The euro should drop to under 1.30 against the USD, but again here the SNB has the pair locked in a price channel.

Eco Data for May 8, 2012, a very thin day

GBP

RICS House Price Balance

-19%

-10%

-10%

AUD

Trade Balance

-1.59B

-1.40B

-0.75B

CAD

Housing Starts

245K

204K

215K

Upcoming Economic Events that affect the CHF, EUR, GBP and USD

May 10

08:30

EUR

Dutch CPI (YoY)

2.40%

2.50%

09:00

EUR

ECB Monthly Report

09:30

GBP

Industrial Production (MoM)

-0.3%

0.4%

09:30

GBP

Manufacturing Production (MoM)

0.5%

-1.0%

09:30

GBP

Trade Balance

-9.6B

-8.8B

12:00

GBP

Interest Rate Decision

0.50%

0.50%

12:00

GBP

BOE QE Total

325B

325B

13:30

USD

IImport Price Index (MoM)

-0.2%

1.3%

13:30

USD

Trade Balance

-50.0B

-46.0B

13:30

USD

Initial Jobless Claims

369K

365K

13:30

USD

Continuing Jobless Claims

3278K

3276K

14:30

USD

Fed Chairman Bernanke Speaks

15:00

GBP

NIESR GDP Estimate

0.1%

19:00

USD

Federal Budget Balance

30.0B

-198.2B

May 11

00:01

GBP

Nationwide Consumer Confidence

53

07:00

EUR

German CPI (MoM)

0.1%

0.1%

09:30

GBP

PPI Input (MoM)

-1.0%

1.9%

10:00

EUR

Portuguese CPI (MoM)

1.20%

13:30

USD

Core PPI (MoM)

0.3%

13:30

USD

PPI (MoM)

0.0%

14:55

USD

Michigan Consumer Sentiment

76.4

Government Bond Auctions (this week)

Date Time Country

May 09 09:10 Sweden

May 09 09:30 Germany

May 09 09:30 Swiss

May 09 09:30 UK

May 09 14:30 Sweden

May 09 15:30 Italy

May 09 17:00 US

May 10 15:00 US

May 10 17:00 US

May 11 09:10 Italy BOT auction

May 11 10:00 Belgium

Click here a current EUR/CHF Chart.

Originally posted here