Partner Center Find a Broker

A very mixed week for both the Euro and the Swiss franc, but both currencies sank near the end after another round of disappointing business sentiment data from Europe.

The Euro

Overlay of EUR Pairs: 1-Hour Forex Chart
Overlay of EUR Pairs: 1-Hour Forex Chart
EUR Weekly Performance from MarketMilk
EUR Weekly Performance from MarketMilk

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
CHF Weekly Performance from MarketMilk
CHF Weekly Performance from MarketMilk

Swiss Headlines and Economic data

Nothing much from Switzerland to influence the Swiss franc this week, with exception to the latest Swiss trade balance data (Swiss foreign trade declined in October 2019; exports was – 5.3%, Imports dropped 2.4%).  And the Swiss franc didn’t seem to benefit from the broad global risk aversion environment as U.S.-China trade story headlines leaned more towards further tension than coming resolution for most of the week.

It’s likely the bearish pressure on the franc may have stemmed from continued speculation that the Swiss National Bank will not reverse its policy of negative interest rates and currency intervention any time soon, which was reiterated by SNB Chairman Thomas Jordan just last week.

And the broad move lower on Friday was likely a sympathy move with the euro after manufacturing and services PMI updates continues to signal weakness in the euro area as mentioned above in the Euro review.