Swiss Franc – Daily Market Updates keep our customers aware of the latest CHF exchange rates, charts and rate changes in the major CHF cross currency pairs.
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Canadians are returning to work from what was for many, a very soggy Victoria Day long weekend.
EURUSD spiked higher on Monday after German chancellor Angela Merkel told some students in Berlin that a “too weak” euro was behind Germany’s large trade surplus. FX traders only heard “too weak Euro” and the single currency spiked to 1.1262 from 1.1164.
Some European bank analysts suggested that the comment was taken out of context. View article >
The Canadian dollar is off the sidelines and finally participating in the broad US dollar sell-off. USDCAD inched lower overnight on the back of rising oil prices that pushed WTI briefly above $50.00/barrel
The Asia FX session was subdued. USDJPY consolidated this week’s losses in a 111.12-111.68 range. It was down for the week but well-above Thursday’s 110.22 low.
AUDUSD and NZDUSD drifted higher, buoyed by the greenback’s politically charged sell-off. View article >
Moody’s Investor Service downgraded the six largest Canadian banks at the end of the day on Thursday and the Loonie got knocked for a loop in Asia.
USDCAD closed at 1.3655 on Wednesday and spiked to 1.3741 in Asia. European traders didn’t seem concerned with the Moody’s report and the sold USDCAD and drove it back to 1.3685 at the New York open. View article >
Spring is in the air and so is “risk.” The French election and the scaremongering about an anti-euro, right wing politician becoming president proved fruitless. VIX, the so called “fear-index” on the Commodity Board Options Exchange is at lows not seen since 2007.
The improved risk tone and the prospects for higher rates in June gave USDJPY a bid from the open in Asia. View article >
President Trump took a soft-wood lumber stick and whacked the Loonie upside the head. The US is imposing a 20% counter-vailing duty on Canadian softwood lumber imports. And the Canadian Dairy industry is in the cross-hairs.
For President Trump, the Canadian Softwood lumber and Dairy industries are easy wins for the man promoting” Fair Trade, not Free Trade. He can claim to be the border defending, job creating champion of the people and it has little impact on Americans. View article >
The Euro has surged in early Asian trading to five-month highs against the U.S. dollar as centrist Emmanuel Macron emerged winning the first round presidential election result.
The National Front’s Marine Le Pen was predicted to also reach the second round of voting.
The result was seen as positive for the Euro and EU as investors had been worried that a second-round contest between Le Pen and the far-left Jean-Luc Melenchon would have set up a possible exit of France from the European Union. View article >
FX markets were in full consolidation mode overnight
The majors were choppy but activity was confined to this week’s week-defined ranges. The Paris terrorist attack and uncertainty around the April 23, French election kept traders on the sidelines. The US dollar opened in New York with tiny gains against EUR, GBP, and NZD. It was almost unchanged against CAD and CHF while AUD and JPY inched higher. View article >
The US dollar opened in New York on the defensive. Regional economic data releases, French politics, and North Korea bluster, all played a role.
In Asia, better-than expected New Zealand inflation data (CPI Actual 2.2% vs forecast 2.0%, y/y) powered NZDUSD from 0.6998 to a peak of 0.7050 by the time Europe opened. That move was almost completely reversed by the New York open. View article >
The US dollar has put the brakes on this weeks decline and has opened in New York with gains across the G10 spectrum. Most of those gains were at the expense of the commodity currency bloc and the Japanese yen.
In Asia, Sterling failed to extend gains made after the British Prime Minister called a “snap” election. Instead GBPUSD traded sideways inside a 1.2809-1.2859 band. View article >
Described as a “game-changer” by Deutsche Bank, British prime minister Theresa May’s decision to call a snap general election was the big story of the day on Tuesday and has reignited sterling exchange rates.
For months Theresa May had played down the possibility of an election earlier than 2020. In the eyes of many of the ruling Conservative Party, there was little chance that the opposition Labour Party could dig themselves out of their current pit of disarray between now and then, and so the Conservatives could carry on as is – without interruptions to Brexit negotiations – and still expect a comfortable victory at that later date. View article >
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