By FXEmpire.com
Introduction: News from the Euro and Swiss zone. EUR/CHF is frequently chosen for carry trades which involves going long a high-yielding currency (EURO – 3.50%) against a low-yielding one (CHF – 1.50%). Traders earn daily interest fees when holding this pair long (rollover fees).
- The interest rate differential between the European Bank(ECB) and the Swiss National Bank(SNB)
- Swiss and Euro zone fundamentals
Weekly Analysis and Recommendations:
The EUR/CHF ended the week at 1.2009 remaining in the same range since April 6th, when the SNB was forced to step in to defend the floor of 1.20. The pair have remained within a very tight range.
|
Date |
Open |
High |
Low |
Change % |
|
|
Jun 15, 2012 |
1.2009 |
1.2010 |
1.2013 |
1.2006 |
-0.01% |
|
Jun 14, 2012 |
1.2010 |
1.2012 |
1.2021 |
1.2008 |
-0.02% |
|
Jun 13, 2012 |
1.2012 |
1.2012 |
1.2012 |
1.2007 |
0.00% |
|
Jun 12, 2012 |
1.2012 |
1.2011 |
1.2012 |
1.2007 |
0.01% |
|
Jun 11, 2012 |
1.2011 |
1.2011 |
1.2018 |
1.2010 |
0.00% |
Even with the risk aversion mode and the anti euro sentiment, the pair have remained stagnant.
With little in the way to support the euro and the line in the sand at 1.20 the pair will remain range bound, regardless of the results of the Greece elections and the overall EU financial situation.
FxEmpire provides in-depth analysis for each currency and commodity we review. Fundamental analysis is provided in three components. We provide a detailed monthly analysis and forecast at the beginning of each month. Then we provide more recent analysis and information in our weekly reports and we provide daily updates and outlooks.
Major Economic data for the week of June 11 – 15 actual v. forecast for Euro, GPB, the Franc, and USD
|
Date |
Currency |
Event |
Actual |
Forecast |
Previous |
|
Jun 12 |
GBP |
Manufacturing Production m/m |
-0.7% |
0.0% |
0.9% |
|
Jun 13 |
USD |
Core Retail Sales m/m |
-0.4% |
0.1% |
-0.3% |
|
USD |
PPI m/m |
-1.0% |
-0.6% |
-0.2% |
|
|
USD |
Retail Sales m/m |
-0.2% |
-0.1% |
-0.2% |
|
|
Jun 14 |
CHF |
Libor Rate |
|
|
|
|
USD |
Core CPI m/m |
0.2% |
0.2% |
0.2% |
|
|
USD |
Unemployment Claims |
386K |
377K |
380K |
|
|
Jun 15 |
USD |
Prelim UoM Consumer Sentiment |
74.1 |
77.5 |
79.3 |
Historical:
Highest: 1.5193 CHF on Oct10, 2009.
Average: 1.3271 CHF over this period.
Lowest: 1.0083CHF on Aug 9, 2011.
Economic Highlights of the coming week that affect the Euro, GBP, CHF and the USD
|
Date |
Time |
Currency |
Event |
Forecast |
Previous |
|
Jun 18 |
Day 1 |
ALL |
G20 Meetings |
||
|
Jun 19 |
8:30 |
GBP |
CPI y/y |
3.0% |
|
|
9:00 |
EUR |
ZEW Economic Sentiment |
-2.4 |
||
|
12:30 |
USD |
Building Permits |
0.72M |
||
|
Day 2 |
ALL |
G20 Meetings |
|||
|
Jun 20 |
8:30 |
GBP |
Claimant Count Change |
-13.7K |
|
|
8:30 |
GBP |
MPC Meeting Minutes |
0-0-9 |
0-0-9 |
|
|
16:30 |
USD |
FOMC Statement |
|||
|
18:00 |
USD |
FOMC Economic Projections |
|||
|
18:15 |
USD |
FOMC Press Conference |
|||
|
Jun 21 |
8:30 |
GBP |
Retail Sales m/m |
-2.3% |
|
|
12:30 |
USD |
Unemployment Claims |
386K |
||
|
14:00 |
USD |
Existing Home Sales |
4.62M |
||
|
14:00 |
USD |
Philly Fed Manufacturing Index |
-5.8 |
||
|
Jun 22 |
8:00 |
EUR |
German Ifo Business Climate |
106.9 |
Click here for further EUR/CHF Forecast.
Originally posted here
