The start of the week for the USD/CHF will be very volatile with the focus on the sentiment and the outlook for monetary policies by central banks and the debt crisis in Europe which is fueling haven demand on swissy.
The focus is on Europe with the lack of data from major economies. The debt crisis remains the dominant fear in Europe and it is stimulating haven demand on swissy. Last week we saw Moody’s downgrade Ireland’s credit rating by two steps to Baa3 while Greece took more steps on spending cuts to meet its budget target.
On Monday the volatility will be fueled with Finland’s election results, where fear over rising momentum of euro-skeptics which in result might block Portugal’s request for bailout. Finland is the only euro nation to require parliament approval for EFSF loans unlike other governments that pass the decision.
It will be a volatile week with the Easter weekend ahead and we expect the volume to continue to drop gradually towards the end of the week which will increase the fluctuations and the volatility this week.
Originally posted here
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