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[ariane] 23/6/2022 09:47

Sterling, Euro Could Fall if PMI Data Prove Sluggish
23 June 2022 - 08:42AM
Dow Jones News


Sterling, Euro Could Fall if PMI Data Prove Sluggish

0708 GMT - Sterling and the euro could fall as June's U.K. and eurozone purchasing managers' index surveys are likely to prove sluggish again, primarily for the manufacturing sector, Unicredit Research says.

Such an outcome could drag EUR/USD to 1.0550 and GBP/USD to 1.22, Unicredit analysts say in a note.


That would prevent any further recovery toward resistance levels of EUR/USD 1.07 and GBP/USD 1.2230 following gains on Wednesday when Federal Reserve Chairman Jerome Powell said it would be challenging to achieve a soft landing for the U.S. economy in his testimony before Congress, they say.

EUR/USD rises 0.1% to 1.0579 but GBP/USD falls 0.2% to 1.2245.

The eurozone and U.K. PMI data will be released at 0800 GMT and 0830 GMT, respectively. ([e-mail])

[waldron] 23/6/2022 06:08

1 EUR = 1.0158 CHF


The Euro to Swiss Franc exchange rate (EUR CHF) as of 23 Jun 2022 at 6:07 AM.

[la forge] 22/6/2022 11:49

1 EUR = 1.0161 CHF


The Euro to Swiss Franc exchange rate (EUR CHF) as of 22 Jun 2022 at 11:48 AM.

[waldron] 22/6/2022 08:29

1 EUR = 1.0146 CHF


The Euro to Swiss Franc exchange rate (EUR CHF) as of 22 Jun 2022 at 8:28 AM.

[sarkasm] 21/6/2022 09:51

1 EUR = 1.0206 CHF


The Euro to Swiss Franc exchange rate (EUR CHF) as of 21 Jun 2022 at 9:50 AM.

[waldron] 21/6/2022 08:06

1 EUR = 1.0179 CHF


The Euro to Swiss Franc exchange rate (EUR CHF) as of 21 Jun 2022 at 8:05 AM.

[waldron] 20/6/2022 21:54

1 EUR = 1.0171 CHF



The Euro to Swiss Franc exchange rate (EUR CHF) as of 20 Jun 2022 at 9:53 PM.

[florenceorbis] 20/6/2022 18:42

1 EUR = 1.0173 CHF


The Euro to Swiss Franc exchange rate (EUR CHF) as of 20 Jun 2022 at 6:41 PM.

[waldron] 20/6/2022 11:28

1 EUR = 1.0154 CHF


The Euro to Swiss Franc exchange rate (EUR CHF) as of 20 Jun 2022 at 11:26 AM.

[waldron] 20/6/2022 07:17

1 EUR = 1.017 CHF

The Euro to Swiss Franc exchange rate (EUR CHF) as of 20 Jun 2022 at 7:17 AM.

[misca2] 19/6/2022 08:11

1 EUR = 1.0189 CHF


The Euro to Swiss Franc exchange rate (EUR CHF) as of 19 Jun 2022 at 8:09 AM.

[maywillow] 18/6/2022 17:35

1 EUR = 1.019 CHF



The Euro to Swiss Franc exchange rate (EUR CHF) as of 18 Jun 2022 at 5:34 PM.

[grupo] 18/6/2022 10:55

1 EUR = 1.019 CHF


The Euro to Swiss Franc exchange rate (EUR CHF) as of 18 Jun 2022 at 10:54 AM.

[waldron] 18/6/2022 06:29

1 EUR = 1.0193 CHF


The Euro to Swiss Franc exchange rate (EUR CHF) as of 18 Jun 2022 at 6:28 AM.

[florenceorbis] 17/6/2022 09:33

1 EUR = 1.0139 CHF

The Euro to Swiss Franc exchange rate (EUR CHF) as of 17 Jun 2022 at 9:32 AM.

[waldron] 17/6/2022 06:12

Swiss Franc Bolts Higher as the SNB, BoE Join the Rate Hike Party While BoJ Dances Alone


Jun 17, 2022 7:00 AM +02:00

Daniel McCarthy, Strategist

Swiss Franc, EUR/CHF, US Dollar, SNB, BoE, GBP/USD, BoJ, USD/JPY - Talking Points

The Swiss Franc found support post SNB bombshell 0.50% hike

Equities remain under pressure as risks swirl from central bank actions

With the SNB joining the Fed and BoE this week, will EUR/CHF go lower?



The Swiss Franc is higher as the fallout from the Swiss National Bank’s (SNB) unexpected 50 basis point (bp) rate hike continues. The Bank of England (BoE) 25 bp hike has also seen Sterling rally as the US Dollar slips.

USD/CHF has put in a double top after hitting the mid-May high of 1.0050 on Wednesday. It has since collapsed below 0.9700 after the SNB’s announcement yesterday.

The SNB has a storied history of unconventional changes to policy. Most famous is the abandoning of capping the rising Franc in 2015 that saw EUR/CHF go from 1.2000 to 0.8600 at a blistering pace. It then recovered back above parity, where it has mostly been ever since.

The BoE was more straight up, delivering on the telegraphed 25 bp rate rise. GBP/USD is only slightly softer through the Asian session.

While the US Dollar is generally under pressure elsewhere, USD/JPY galloped north after the Bank of Japan left monetary policy unchanged. Next Thursday’s inflation data there will be closely watched.

A deeply negative Wall Street cash session has seen futures recover somewhat after hours. Australian and Japanese equities had a down day, but Hong Kong and mainland Chinese markets gained some ground.

Industrial metals are weaker while gold is fairly steady near US$ 1,842 an ounce. Crude oil is a tad weaker with the WTI futures contract below US$ 117 bbl and the Brent contract near US$ 119 bbl.

Looking ahead, after Eurozone CPI, Canada and the US will see industrial production figures.

The full economic calendar can be viewed here.

Introduction to Technical Analysis

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EUR/CHF Technical Analysis

In the wake of the SNB’s rate hike, EUR/CHF collapsed below an ascending trend line to fall back inside a broad 4-month range of 0.9973 – 1.0515.

The move down bounced off a break point at 1.0132 and closed above a previous low of 1.0189 and these levels might provide support.

A double top was put in place last week when the price was unable to break above last month’s peak of 1.0515.

On the topside, resistance could be the simple moving average (SMA) or the previous highs of 1.0478 and 1.0515.
EURCHF CHART

Chart created in TradingView

--- Written by Daniel McCarthy, Strategist for DailyFX.com

To contact Daniel, use the comments section below or @DanMcCathyFX on Twitter

[waldron] 17/6/2022 05:42

1 EUR = 1.0201 CHF


The Euro to Swiss Franc exchange rate (EUR CHF) as of 17 Jun 2022 at 5:42 AM.

[ariane] 16/6/2022 11:55

1 EUR = 1.0198 CHF



The Euro to Swiss Franc exchange rate (EUR CHF) as of 16 Jun 2022 at 11:53 AM.

[ariane] 16/6/2022 11:27

The Swiss franc hit a two-month high versus the euro after the Swiss National Bank unexpectedly raised interest rates and signalled further rises.

The SNB lifted its key rate by 50 basis points to -0.25% to stem inflation, whereas most analysts expected rates to remain unchanged. The SNB said it cannot be ruled out that further rate increases will be necessary in the foreseeable future to stabilise inflation.

The central bank also reiterated its willingness to intervene in the foreign exchange market but omitted its usual line that the franc remains highly valued.

[adrian j boris] 16/6/2022 09:08

1 EUR = 1.019 CHF

The Euro to Swiss Franc exchange rate (EUR CHF) as of 16 Jun 2022 at 9:08 AM.

[waldron] 16/6/2022 07:46

1 EUR = 1.0395 CHF


The Euro to Swiss Franc exchange rate (EUR CHF) as of 16 Jun 2022 at 7:45 AM.

[sarkasm] 15/6/2022 10:04

Switzerland Further Marks Down 2022 Growth Outlook Amid Ukraine War, China Lockdowns
06/15/2022 | 04:50am EDT


(MT Newswires) -- The Swiss government's expert group further reduced its gross domestic product growth forecast and raised its inflation estimates for 2022, as the impact of the war in Ukraine and lockdowns in China continue to dampen prospects for a recovery.

The State Secretariat for Economic Affairs said Monday the government body lowered its growth forecast for 2022, adjusted for sporting events, to 2.6% after previously reducing it to 2.8% from 3% in March. However, the federal economists expect the GDP growth to remain above average as the economy rebounds from the COVID-19 impact.

The outlook was marked down more than a month after the International Monetary Fund said it forecasts Switzerland's growth to ease to 2.25% in 2022 following a 3.7% economic expansion a year before. Meanwhile, KOF Swiss Economic Institute earlier lowered its expansion forecast to 2.5% from 2.8% for 2022.

Switzerland predicts that the Ukraine war may have a more severe impact on its economy than previously anticipated after the conflict pushed up prices of Russian and Ukrainian exports, such as energy resources, food staples and animal feeds. The price increases also cooled demand from major Swiss trading partners, SECO said.

On the inflation front, the expert group expects the 2022 rate to rise even further to 2.5%, compared with its previous forecast of 1.9%, assuming a negative knock-on effect on consumer spending. Expectations for unemployment remain unchanged at 2.1% for 2022.

For 2023, Switzerland reduced its economic growth prediction to 1.9% from 2%, based on its assumption that economic activity will normalize to pre-pandemic levels in the second half of 2022 and inflation and supply chain disruptions will ease.

Unemployment is estimated to decline further to 2% in 2023, unchanged from the prior outlook, while inflation is set to ease to 1.4%, compared with an earlier forecast of 0.7%.