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Uniform moves were rarely to be found in euro pairs this week, indicating that a relatively quiet economic calendar & news cycle meant the euro bowed down to counter currency flows all week. The Swiss franc roughly saw the same amount of volatility with its nearly empty calendar not bringing any kind of action, but a short-term burst of unexplained weakness brings in the question of potential SNB intervention.

The Euro

Overlay of EUR Pairs: 1-Hour Forex Chart
Overlay of EUR Pairs: 1-Hour Forex Chart

European Headlines and Economic data

Monday:

Tuesday:

Wednesday:

Thursday:

Friday:

The Swiss Franc

Overlay of CHF Pairs: 1-Hour Forex Chart
Overlay of CHF Pairs: 1-Hour Forex Chart

Switzerland Headlines and Economic data

Tuesday: 

  • Swiss franc pairs move lower during the Asia and Europe trading sessions. With no apparent direct catalysts from Switzerland or Europe, and with geopolitical risks high (U.S.-Iran tensions) likely keeping safe havens bid, it’s possible the Swiss National Bank was making good on their recent currency intervention threats to keep the franc from appreciating further.

Friday: