USD/CHF Fundamental Analysis February 17, 2015 – Forecast

usdchf monday bnsAnalysis and Recommendations:

The USD/CHF eased by 14 points as the dollar fell in today’s holiday session. There was not much data due today as the focus remains the Eurogroup meeting, but Eurozone trade balance numbers were positive helping support the Swissy.

The Swiss official met on Friday with minister delegate for foreign trade Mohamed Abbou on the sidelines of setting up the Moroccan stand at the Fair. “We have chosen to honor Morocco, a country among the most developed ones in Africa that enjoys a very stable political system and has a variety of products and services,” Schneider-Ammann said.

He described as strong and excellent the Moroccan-Swiss economic relations, based on a free trade agreement concluded in 1997 and other similar agreements between the Kingdom and other states and regional groupings.

When the Swiss National Bank tied the Swiss franc to the euro 3½ years ago, it feared a surging franc would tip the economy into recession. With the SNB now having lifted the cap, the economy is back to square one: a stronger franc once again threatens to snuff out growth in one of Europe’s few bright spots.

Switzerland’s export sector, which accounts for about 70% of gross domestic product, is most at risk. Swiss goods could be priced out of the eurozone, the country’s biggest market, threatening both Swiss corporate profits and jobs.

FxEmpire provides in-depth analysis for each currency and commodity we review. Fundamental analysis is provided in three components. We provide a detailed monthly analysis and forecast at the beginning of each month. Then we provide more up to the data analysis and information in our weekly reports.

Today’s economic releases actual vs. forecast:

Cur.

Imp.

Event

Actual

Forecast

Previous

 

 

 

Holiday

United States

 

Holiday

Canada – Family Day

  JPY

 

Industrial Production

0.8%

1.0%

1.0%

 

 

  EUR

 

Trade Balance (Dec)

 

20.5B

20.0B

   

 USDCHF(15 minutes)20150216110421

Upcoming Economic Events that you should be monitoring:

Tuesday, February 17th

Cur.

 

Event

Actual

Forecast

Previous

 

  GBP

 

CPI (MoM) (Jan)

 

-0.8%

 

 

 

  GBP

 

CPI (YoY) (Jan)

 

0.3%

0.5%

 

 

  GBP

 

PPI Input (MoM) (Jan)

 

-2.5%

-2.4%

 

 

  EUR

 

German ZEW Current

 

30.0

22.4

 

 

  EUR

 

German ZEW Economic

 

56.0

48.4

 

 

  USD

 

NY Empire State

 

9.00

9.95

 

 

  CAD

 

Foreign Securities

 

 

4.29B

   

Government Bond Auctions

Date                Country

Feb 16             Belgium Auctions OLOs

Feb 18             Germany Eur 4bn Feb 2025 Bund

Feb 18             Sweden Details bond auction on 25 Feb

Feb 19             Spain Auctions

Feb 19             France Auctions BTANs

Feb 19             France Auctions

Feb 19             Italy Announces details

Feb 19             US Announces 2-yr FRN, plus 2/5/7 Notes

Feb 19             US Auctions 30-yr TIPS

 

 

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