Swiss franc news - page 2
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I cannot believe what they have done. It's almost as if they are trying to destroy the Eurozone on purpose.
What's the reason behind this?
USD/CHF: Greenback Sinks to Weekly Low Ahead of NFP
The greenback declined against the Swiss franc on Thursday, falling to a weekly low amid a fresh set of US macro data which all came out better-than-anticipated. However, traders have already shifted attention to Friday's non-farm payrolls as an upbeat reading could indicate a potential rate hike by the Federal Reserve (Fed) in the middle of 2015.
The greenback lost 0.85% to trade at ₣0.9580 against the Swiss franc, setting this week lowest point at ₣0.9560, while the US dollar index gave up 0.79% to 97.408 on Thursday.
Upbeat US macro data
Meanwhile, cheerful US macro data only managed to halt the greenback's slide, staying flat with low volatility during the entire US session.
Shortly before the opening bell, initial jobless claims surprised as the report unveiled a drop to the lowest figure since the end of January. During the week ending March 28, the number of US citizens filing for unemployment benefits hit 268,000, an improvement from the previously seen 288,000.
The trade deficit came in at $35.4 billion in February, shrinking from the $42.7 billion gap booked in the previous month, the fresh report showed.
Finally, the factory orders experienced first drop since last June as manufacturers received 0.2% more orders for all types of products in February, topping the estimate of zero growth, after a downwardly revised 0.7% drop a month before.
Yellen on economic mobility
Fed Chair Janet Yellen gave the opening remarks at a two-day Fed-organized conference in Washington, speaking about the effects of economic mobility on the US economy. Yellen said that further research is required as it can improve understanding why some communities outperform the others in finding jobs or creating successful businesses.
"Researchers and policymakers need a better understanding of how much mobility individuals may experience over the course of their lives."
source
The CHF has sure made a lot of people money.
The CHF has sure made a lot of people money.
You mean a lot of banks?
USD/CHF forecast for the week of April 6, 2015
The USD/CHF pair initially broke higher during the course of the week, but turned back around to form a bit of a shooting star. If we can break down below the bottom of the shooting star, we could very easily drop to the 0.90 random, but we would anticipate seeing the 0.9250 level. Ultimately, this market looks like it’s trying to roll over, but it’s very difficult to do any longer-term trading as there should be a lot of volatility and short-term choppiness to deal with as the market goes back and forth.
source
You mean a lot of banks?
Yes. Sorry, I should have said "People who have stopped being a part of the human race and are now faceless and heartless automatons who have controlling interests in just about everything" It was implied though
Well, okay, I MEANT to imply it. 
Yes. Sorry, I should have said "People who have stopped being a part of the human race and are now faceless and heartless automatons who have controlling interests in just about everything" It was implied though
EUR/CHF forecast for the week of April 6, 2015
The EUR/CHF pair fell initially during the course of the week, testing the 1.04 handle. However, we bounced enough to form a little bit of a hammer, so it is possible that we are going to bounce. If we can break above the 1.05 handle, the market should then head to the 1.08 level. Until hand, if we break down below the bottom of the hammer that formed this past week, this would be very bearish and the EUR/CHF pair should then head much lower. Ultimately, we could head as low as parity.
USD/CHF: Pair Below ₣0.97 as IMF Trims US Growth Outlook
The US dollar became a victim of its own appreciation and dipped against all major currencies on Tuesday, after the International Monetary Fund (IMF) said that the bullish dollar will have a halting impact on the economic growth of the world's leading economy.
Against the Swiss franc, the greenback dipped 0.84% and traded a few pips below the ₣0.97 threshold, stepping down from its intraday high at ₣0.9793.
The strengthening US dollar will accelerate economic growth in the euro area and Japan, while exerting downward pressure on the US growth projection, the IMF said in its latest forecast.
As a result, the IMF cut its US growth projection by 0.5 percentage point to 3.1%, still the fastest among major developed economies.
US data
The volume of US retail trade rose 0.9% on a monthly basis in March, a strong rebound from February's upwardly revised 0.5% fall, according to a fresh report. A rise of 1% had been expected.
Meanwhile, producer prices rose 0.2% month-on-month in February, while a drop of 0.8% was booked on an annual basis, the fresh report showed.
Business inventories increased 0.3% in February, beating an anticipated hike of 0.2%, after the zero reading previously.
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USD/CHF: Anemic Jobs, Housing Data Force Dollar Below ₣0.96
The greenback dropped below the ₣0.96 bar against the Alpine state's currency on Thursday, showing some weakness after a set of economic fundamentals shed more light on the performance of the world's leading economy.
The buck was seen 0.55% lower at ₣0.9584, retreating after worries over Grexit helped the pair reach an intraday high ₣0.9710.
Ratings agency Standard & Poor's downgraded Greece's credit rating to CCC+/C from B-/B on Wednesday, adding a negative outlook on the nation's economy. The agency cited worsening economic conditions due to prolonged negotiations between Greek officials and the nation's international creditors.
In the US, housing starts rose 2% to 926,000 in March, less than the 1.04 million expected by the market, and following an up-revised 908,000 starts in February. Building permits inched to 1.039 million in March, noticeably less than the 1.081 million analysts had hoped for, after permits soared to 1.102 million in February.
The lackluster rebound in starts is a sign that factors that have been restraining the US economy this year have persisted through the end of the first quarter.
Moreover, a weekly jobless claims report showed the imprint rose to a seasonally adjusted 294,000 in the week ended April 11, missing expectations of 280,000.
The labor market trends are of paramount importance for Federal Reserve (Fed) officials who are trying to achieve the central bank's dual mandate before implementing the highly awaited interest rate hike.
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