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The euro ends the week a net winner as the economic outlook for Europe improves, while the franc takes the top spot after Switzerland was added to the U.S.’ currency manipulator watchlist.
The Euro
European Headlines and Economic data
Monday:
- Brexit: EU ‘won’t be rushed’ on trade deal, says Simon Coveney
- In December 2019 the selling prices in German wholesale trade fell by 1.3% compared with December 2018
- Italian retail trade fell by 0.2% m/m in value terms and dropping by 0.3% m/m in volume terms
Tuesday:
Wednesday:
- Industrial production up by 0.2% in euro area; Down by 0.1% in EU28
-
Euro area international trade in goods surplus
€20.7B; €2.6B surplus for EU28
Thursday:
- ECB takes more upbeat view in December meetings: accounts
- German Consumer prices in 2019: +1.4% y/y, +1.5% m/m
- German employees in manufacturing in November 2019: -0.4% year on year
Friday:
- Annual inflation up to 1.3% in the euro area; Up to 1.6% in the EU
- Production in construction up by 0.7% in euro area; Up by 1.1% in EU28
The Swiss Franc
Swiss Headlines and Economic data
Tuesday:
- The United States added Switzerland to its watchlist of currency manipulators – This was the big catalysts of the week for the Swiss franc, driving it higher despite a positive global risk environment (U.S.-China trade deal signed this week & continued stimulative monetary policy environment) that usually puts pressure on the currency.
- Switzerland rejects U.S. allegations of currency manipulation
- Swiss National Bank under rising pressure after five years of negative rates
Friday: