CHF to Move Today on Retail Sales Data
October 16th, 2009 Posted in Euro-Zone
The Swiss currency is set to go very volatile today on the release of the Swiss Retail Sales data at 07:15 GMT. In the past week the CHF has made some notable gains. Yesterday it rose by 100 pips vs. the JPT to the 89.33 level. However, so far today the pair has dipped slightly to the 89.20 level. For the week as a whole the USD/CHF cross has fallen dramatically. However, the pair has gone bullish in the past 2 days, and currently stands at the 1.0172 level.
Today’s data from Switzerland’s economy is one of the leading indicators for the forex market, and will help determine the CHF’s strength in the second half of October. It should be noted that the Swiss currency has made significant gains against a basket of major currencies, such as the USD and GBP since the beginning of the financial crisis.
It is advisable that you keep a close eye on the situation, because any counter currency whose economy improves faster than Switzerland, may help drive-up the counter currency vs. the CHF. Therefore, it is advised that you open your positions in the CHF’s crosses now, as big investment opportunities are waiting for you.
If you want to make big money from the forex market now, then it is recommended that you open a Standard Account with ForexYard. You can also learn more about the forex market by reading more of my blog posts. After reading these articles, you will have the confidence to become a professional trader in forex.
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Tags: CHF forecast, CHF prediction, CHF to Move Today on Retail Sales Data, Forex, Forex Forecast, forex prediction, forex update, Swiss Retail Sales, USD/CHF
