9 Jan 2014
EUR/CHF climbs on German industrial production
FXstreet.com (London) - EUR/CHF has recovered from session lows, boosted by stronger-than-expected German industrial production numbers.
Month-on-month industrial production increased by 1.9 percent in November, up from the consensus expectation of 1.5 percent and filling in the hole from October’s 1.2 percent drop.
SNB committed to EUR/CHF floor
CHF has seen demand wane as a haven currency on improving US economic expectations as well as a broad stabilisation of the Eurozone, particularly at its periphery - Greek 10 year bond yields have fallen from 48.6 percent in March 2012 to 7.6 percent today. While the Euro area faces significant threats to economic growth, it has seen a market decline in volatility.
Despite the downturn in Eurozone risks, the Swiss National Bank has said that it remains committed to the CHF1.200 floor placed under the EUR/CHF rate in 2011 as an overheating Swiss Franc threatened deflationary pressures through CHF strength.
SNB data released this week showed that the central bank’s currency reserves declined in December, falling 0.15 percent to CHF435.19, down from a revised CHF435.85 in November.
EUR/CHF regains some ground from lows
EUR/CHF is currently trading at CHF1.2372, regaining ground after a drop from highs at CHF1.2390 to a session low at CHF1.2350.
Month-on-month industrial production increased by 1.9 percent in November, up from the consensus expectation of 1.5 percent and filling in the hole from October’s 1.2 percent drop.
SNB committed to EUR/CHF floor
CHF has seen demand wane as a haven currency on improving US economic expectations as well as a broad stabilisation of the Eurozone, particularly at its periphery - Greek 10 year bond yields have fallen from 48.6 percent in March 2012 to 7.6 percent today. While the Euro area faces significant threats to economic growth, it has seen a market decline in volatility.
Despite the downturn in Eurozone risks, the Swiss National Bank has said that it remains committed to the CHF1.200 floor placed under the EUR/CHF rate in 2011 as an overheating Swiss Franc threatened deflationary pressures through CHF strength.
SNB data released this week showed that the central bank’s currency reserves declined in December, falling 0.15 percent to CHF435.19, down from a revised CHF435.85 in November.
EUR/CHF regains some ground from lows
EUR/CHF is currently trading at CHF1.2372, regaining ground after a drop from highs at CHF1.2390 to a session low at CHF1.2350.