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Swiss Data May Help CHF Extend Bullish Trend Today
Monday, 9 Jan 2012
The Swiss franc had mixed trading throughout last week. While it was able to maintain a bullish trend against the euro, the currency slipped against both the dollar and yen. Analysts attribute the trends to the current euro-zone debt crisis and positive US jobs data released last Friday. The EUR/CHF closed last week at 1.2147 while the USD/CHF finished at 0.9551.
Today, the Swiss retail sales figure may help the franc against the dollar and yen. Forecasts are calling for the indicator to come in at around 0.6%, a considerable increase over last month. If the predictions turn out to be true, the franc may be able to recoup some its losses last week, while extending its current trend against the euro.
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