- Profit-taking after SNB shocker?
- Japanese tertiary industry activity index up by 0.2% in Nov
- Swiss retail sales and euro zone final CPI readings due
It looks like forex traders are still busy buzzing about the SNB’s surprise announcement and figuring out how this could affect longer-term market movements. A bit of profit-taking was seen, as EUR/CHF recovered 3.19% so far and is trading back above parity while USD/CHF is looking at a 3.11% gain for the trading session.
Other major pairs calmed down after the bloodbath, with EUR/USD up by a mere 0.07% and GBP/USD looking at a 0.05% gain. USD/JPY is holding steady around 15 pips above the 116.00 major psychological mark while commodity currencies continued to climb. AUD/USD is enjoying a 0.33% gain so far and NZD/USD is up 0.38%.
The only data point released in today’s Asian trading session was Japan’s tertiary industry activity index for November, which showed a 0.2% uptick. Although this is slightly lower compared to the estimated 0.3% increase, it still marks a decent improvement from the previous month’s 0.1% dip.
Up ahead, the forex calendar shows that the euro and the franc might see a bit more volatility in the next few hours. The euro zone is set to print its final CPI readings for December and confirm that headline inflation is down 0.2% and that core inflation is up by 0.8%. As for Switzerland, the retail sales report is slated to show a 1.1% annualized increase for November, higher than the previous 0.3% rise.
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