Partner Center
Find a Broker
Both the Euro and Swiss Franc were net under performers this week the rising positive global risk sentiment and net weak economic updates from the Euro area.
The Euro

European Headlines and Economic data
Monday:
- Eurozone manufacturing slump continues in August
- Europe should ignore ‘treacherous promises’ of Facebook’s Libra currency: ECB’s Mersch
Tuesday:
- Sharp rise (+1.18%) in unemployment in Spain in August
- Industrial producer prices up by 0.2% in euro area; Up by 0.3% in EU28
- ECB’s Muller Joins skeptics seeing no need to resume bond-buying
Wednesday:
- IHS Markit Spain Services PMI: Service sector growth accelerates during August as domestic demand strengthens
- Germany Services PMI: Service sector growth remains solid, but signs of underlying weakness build
- IHS Markit Eurozone composite PMI: Growth of euro area private sector remains modest in August
- Volume of retail trade down by 0.6% in euro area; Down by 0.5% in EU28
- Data points to euro zone staying below ECB comfort zone – chief economist
- Lagarde calls on European governments to launch fiscal stimulus
Thursday:
Friday:
- German industrial production slumps in July
- French trade deficit narrowed in July
- GDP up by 0.2% and employment up by 0.2% in the euro area In the EU28, GDP up by 0.2% and employment by 0.3%
The Swiss Franc

Switzerland Headlines and Economic data
Tuesday:
- Swiss consumer prices remained stable in August vs. a -0.5% fall in July
- Rising risk aversion sentiment likely added to Swiss franc strength during the Tuesday session on rising trade worries, Brexit drama and a weakening U.S. manufacturing sector.
Wednesday:
- Hong Kong tensions ease, China signals stimulus – the reduction of geopolitical and economic fears from Asia seems to have been the catalysts for a major turn in global risk sentiment, pushing traders out of safe havens like the Swiss franc
Thursday:
- China and US agree to meet in October for trade negotiations – this headline was the catalyst for further global risk-on sentiment and Swiss franc weakness as it broke the rising tensions between the two major economies that grew over the past few week with the rise in tariffs.
- Swiss GDP increased by only 0.3% quarter on quarter in 2Q19, down from 0.4% in the first quarter
- Swiss rates need to stay negative for now – SNB’s Jordan
Friday:
- Swiss National Bank concerned about digital currencies impact on monetary policy
- China’s PBOC cuts reserve ratio for banks as economy stalls – this stimulative action lifted risk assets across the board, adding to a week of positive Chinese economic data, fading geopolitical concerns in Hong Kong, and a positive turn in the U.S.-China trade war to help push the franc lower as traders lightened up on “safe haven” assets.