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The euro was knocked down early by business sentiment data and never recovered, possibly on worsening sentiment on the Brexit drama. As for the Swiss franc, it saw choppy action on global risk sentiment moves, ultimately ending net positive with a surprise negative headline to close out the week.

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:

Thursday:

Friday:

The Swiss Franc

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

Swiss Headlines and Economic data

Monday:

Tuesday:

Wednesday:

  • Swiss National Bank releases Quarterly Bulletin:
    • Adjusts basis for calculating negative interest
    • Will remain active in foreign exchange market as necessary
    • Views Swiss franc as highly valued
    • Nothing new on this release, not a market mover for the Swiss franc
  • The franc saw broad weakness during the U.S. trading session despite no direct catalysts from Europe and Switzerland. The argument could be that it fell with risk sentiment shifting away from negativity after a round of extreme geopolitical risk sentiment from early in the week.

Friday:

  • White House deliberates block on all US investments in China – this surprise announcement shook up global risk sentiment as the idea weakened the prospects of a trade deal between the U.S. and China, sending traders back into safe havens like CHF into the weekend, but unfortunately not enough to get it in the green against all of the majors.