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It looks like global risk sentiment & counter currency flows seemed to have accounted for the majority of the mixed price action among euro pairs this past week, with another round of weak European economic updates putting pressure on the shared currency at various times. The Swiss franc ends the week as a net loser on weak economic updates from Switzerland.

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:

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 consumer prices fell by 0.1% in September – this was a big disappointed for Swissy bulls as expectations were for a rise of 0.1%. Consumer prices haven’t shown growth in four months so this is a very concerning trend that could lead to the Swiss National Bank to take action if it persists.

Thursday:

Friday:

  • No clear catalyst for the somewhat broad move higher in the Swiss franc during the morning London trading session, and it was an odd situation as global risk sentiment was broadly positive, a continuation from Thursday’s driving catalysts. The move higher could have been profit taking ahead of the weekend, but it wasn’t enough to take the franc out of net negative territory for the week.