The Euro to Swiss Franc (EUR/CHF) exchange rate was trading higher at the start of Monday’s European session in what promises to be an extremely quiet day for data.
The Euro to Swiss Franc (EUR/CHF) exchange rate could be in for an interesting week of movement with some influential Eurozone and Swiss ecostats due to emerge.
The start of the week will be relatively quiet, but Tuesday will see the release of Eurozone Industrial Production figures which could have a moderate impact on the Euro exchange rate.
Wednesday could be a little more influential with the final German Consumer Price Index (CPI) figures published. Any deviation from the flash forecasts could be enough to influence the Euro exchange rate.
Euro to Swiss Franc (EUR/CHF) Exchange Rate Forecast
Additionally, the European Central Bank’s (ECB) interest rate decision on Thursday could be a cause for Euro to Swiss Franc (EUR/CHF) exchange rate movement. Although an ECB interest rate cut at this point would be very surprising, the event may still see Euro fluctuations on any central bank statements.
Central bank chiefs have the ability to cause massive fluctuations in the currency market as investors attempt to anticipate time frames of interest rate adjustments and any other policy changes that could impact exchange rates.
Therefore, the ECB’s survey of Professional Forecasters, out on Thursday, could be another cause for Euro to Swiss Franc (EUR/CHF) exchange rate movement.
Mildly influential, but still in the mix, are Switzerland’s Producer and Import Price figures which will be out during Thursday’s trading.
Swiss Franc to Euro (CHF/EUR) Exchange Rate Forecast
Friday’s Swiss Retail Sales data will emerge on Friday and could influence the Swiss Franc to Euro (CHF/EUR) exchange rate rather significantly. The January figure has recorded -0.3% contraction on the year and any improvement would be highly supportive of the Swiss Franc.
However, the CHF/EUR currency pair may experience additional movement from final Eurozone Consumer Price Index figures out later in Friday’s trading – the close of the week could therefore be an interesting day for movement.
Additionally, the situation between Greece and its creditors is ongoing and will no doubt play a continuing part in Euro exchange rate movement over coming weeks. Greece’s financial circumstances have been open to much speculation recently and economists have suggested that the nation could be close to running out of funds.
The Swiss Franc to Euro (CHF/EUR) exchange rate has been evening out since the Swiss National Bank (SNB) made the decision to remove the cap between the common currency and the Franc.
As a result of the Euro to Swiss Franc (EUR/CHF) cap removal, the Swiss economy has been experiencing some swings itself with the surging Franc causing problems for exporters.
However, upcoming Swiss data should start to become more stable as the Euro to Swiss Franc (EUR/CHF) exchange rate begins to level out.
On Monday, the Swiss Franc to Euro (CHF/EUR) exchange rate was trading at 0.9638; the Euro to Swiss Franc (EUR/CHF) exchange rate was trending in the region of 1.0381.