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With the coronavirus pandemic picking up steam, it’s no surprise that both the euro and Swiss franc were once again out performers as traders continued to move away from risk assets and higher-yielding currencies. All risk sentiment related behavior for both the euro and franc are covered in the Swiss franc recap down below.

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:

Thursday:

  • Global risk aversion sentiment and volatility picked up early in the Asian session in reaction to what is perceived to be a  weak coronavirus response by the U.S., and on the likelihood traders were disappointed that the ECB didn’t do more to stimulate the economy (i.e., no expected rate cut) in their latest monetary policy actions.  As expected, the franc moves higher against the higher-yielding currencies while falling against the Japanese yen and U.S. dollar.

Friday: