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The main focus will be on manufacturing data in both economies as at 07:15 GMT Switzerland will release SVME purchasing Managers Index for April with expectations showing more expansion to 59.8 from March’s reading of 59.3, where retail sales will be due at the same time. As of 14:00 GMT, the US will release ISM manufacturing for April, as forecasts refer to a drop in the index to 59.6 from the prior 61.2.
Last week, the Swiss economy will release KOF Swiss leading indicator showing improvement 2.29 from the revised 2.29, giving additional support to the Swissy.
Still, the outlook for the pair is to the downside, especially after the dovish announcement by the Fed chairman last week as Bernanke pledged to keep the lose monetary policy to boost growth.Â
Originally posted here
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