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Mixed week for these European currencies, with the euro coming out as a net loser (likely on another round of net negative business sentiment reads from the Euro area), while the Swiss franc barely comes out as a net winner on counter currency flows.

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

Monday:

Tuesday:

Wednesday:

  • The broad move lower in the Swiss franc was likely attributed to a rise in positive global risk sentiment on a positive manufacturing survey read from China (Chinese Caixin services PMI up from 51.1 to 53.5 vs. 51.2 forecast in Nov) and net positive business sentiment reads from Europe, especially Germany (German business activity growth ticks higher but remains modest)