Skip to Content
News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.

Free Trading Guides
Subscribe
Please try again
Select

Live Webinar Events

0

Economic Calendar Events

0

Notify me about

Live Webinar Events
Economic Calendar Events

H

High

M

Medium

L

Low
More View More
Swiss Franc Drops as Government Readies EU Relationship Framework

Swiss Franc Drops as Government Readies EU Relationship Framework

What's on this page

TALKING POINTS – SWISS FRANC, EU, AUSSIE DOLLAR, TRADE WARS, US DOLLAR

  • Swiss Franc drops as government readies EU relationship framework
  • Australian Dollar down as Chinese stocks decline on trade war fears
  • US Dollar unlikely to find lasting lead in consumer confidence report

The Swiss Franc fell in Asia Pacific trade, extending a selloff that started Friday after the government said it will announce its plans for the future relationship with the EU this week. Relations are currently governed by a patchwork of individual agreements. Talks about a comprehensive institutional framework have been on-going for years. Within that context, the selloff may reflect protective pre-positioning.

Meanwhile, the Australian Dollar continued to fall, extending yesterday’s selloff as markets in China fell amid signs of trade war escalation. Mainland markets were offline for a holiday on Monday, making this the first opportunity for local investors to price in growing tension between Beijing and Washington DC. The former walked away from trade talks over the weekend after the latter issued another tariff hike.

Looking ahead, a lackluster offering of European economic data seems unlikely to inspire a meaningful response form FX market price action. US consumer confidence statistics are due in the latter part of the day but this too may pass without fireworks, with traders probably reluctant to commit to a directional bias on the US Dollar before Wednesday’s much-anticipated FOMC policy announcement.

See our study on the history of trade wars to learn how it might influence financial markets!

ASIA PACIFIC TRADING SESSION

DailyFX Economic Calendar Asia Pacific Trading Session

EUROPEAN TRADING SESSION

DailyFX Economic Calendar European Trading Session

** All times listed in GMT. See the full economic calendar here.

FX TRADING RESOURCES

--- Written by Ilya Spivak, Currency Strategist for DailyFX.com

To contact Ilya, use the comments section below or @IlyaSpivak on Twitter

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES