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.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
EUR/USD
Bearish
Oil - US Crude
Mixed
Wall Street
Bearish
Gold
Bearish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
GBP/USD
Bearish
USD/JPY
Mixed
More View more
Real Time News
  • EUR/JPY IG Client Sentiment: Our data shows traders are now net-long EUR/JPY for the first time since Mar 10, 2021 when EUR/JPY traded near 129.31. A contrarian view of crowd sentiment points to EUR/JPY weakness. https://www.dailyfx.com/sentiment https://t.co/59zAMabrWa
  • Traders utilize varying time frames to speculate in the forex market. The two most common are long- and short-term-time frames which transmits through to trend and trigger charts. Learn more about time-frame analysis here: https://t.co/9S5tXIs3SX https://t.co/fW0bZwEmyN
  • Forex quotes reflect the price of different currencies at any point in time. Since a trader’s profit or loss is determined by movements in price, it is essential to develop a sound understanding of how to read currency pairs. Learn how to read quotes here: https://t.co/CNtqrKWDBY https://t.co/zwj1GW1Isz
  • 🇵🇱 Employment Growth YoY (MAY) Actual: 2.7% Expected: 2.5% Previous: 0.9% https://www.dailyfx.com/economic-calendar#2021-06-18
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Gold are long at 83.48%, while traders in France 40 are at opposite extremes with 75.51%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/HMT6LyyKQO
  • Heads Up:🇵🇱 Employment Growth YoY (MAY) due at 08:00 GMT (15min) Expected: 2.5% Previous: 0.9% https://www.dailyfx.com/economic-calendar#2021-06-18
  • Commodities Update: As of 07:00, these are your best and worst performers based on the London trading schedule: Silver: 1.32% Gold: 0.79% Oil - US Crude: -0.29% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/XrFcwZnnix
  • MACD who? The Moving Average Convergence Divergence (MACD) is a technical indicator which simply measures the relationship of exponential moving averages (EMA). Find out how you can incorporate MACD into your trading strategy here: https://t.co/ZNs4Qi8ieG https://t.co/sNccrLBlhH
  • Forex Update: As of 07:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: 0.17% 🇨🇭CHF: 0.01% 🇪🇺EUR: -0.03% 🇦🇺AUD: -0.26% 🇳🇿NZD: -0.44% 🇬🇧GBP: -0.47% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/z7VcGOqJws
  • Indices Update: As of 07:00, these are your best and worst performers based on the London trading schedule: US 500: 0.07% Wall Street: 0.06% Germany 30: 0.00% France 40: -0.05% FTSE 100: -0.13% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/m5r5lzDOiH
USD/CHF Slightly Lower as Swiss 2Q GDP Data Beats Expectations

USD/CHF Slightly Lower as Swiss 2Q GDP Data Beats Expectations

Oded Shimoni, Junior Currency Analyst

Talking Points:

- Switzerland’s 2Q QoQ GDP at 0.6% vs 0.4% expected

- 2Q year-on-year GDP at 2.0% vs 1.1% revised prior

- The Swiss Franc saw a slight positive response versus other majors on the news

If you’re looking for trading ideas, check out our Trading Guides Here

According to estimates released today by the Swiss State Secretariat for Economic Affairs (SECO), Switzerland’s 2Q’16 Gross Domestic Product (GDP) beat expectations.

The QoQ figure printed 0.6%, above the 0.4% quarterly growth expected by economists, and the prior quarter in which the economy grew a revised 0.3%.

The year-on-year change in GDP came well above expectations; the report showed the economy grew at 2.0%, above the expected reading of 0.8%, and the prior revised 1.1% print.

Looking into the report, SECO said that the figures were underpinned by foreign trade as well as government consumption, while household consumption expenditure stagnated, and investment in construction and equipment fell slightly.

Exports of goods rose by 0.8% while imports rose by 0.5%. Exports of services fell -0.1%, and service imports recorded a 1.1% decline.

The SNB will hold its rate decision next week, September 15. The central bank’s deposit rate is already set at negative -0.75% after keeping policy unchanged at the June meeting.

Action by the central bank appears to be widely determined by the ECB decisions in an attempt to keep the EUR/CHF exchange rate in check, as Franc strength could potentially burden on the Swiss economy due to the trading relations between Switzerland and the Euro-Zone. The SNB continues to view the Swiss Franc as significantly overvalued.

Taking this into consideration, the beat to the GDP expectations today appear to have had only a slight positive impact for the Swiss Franc, perhaps due to the limited influence the numbers have on the upcoming SNB monetary policy decision.

The DailyFX Speculative Sentiment Index (SSI) is showing that about 59.2% of traders are long the USD/CHF at the time of writing, implying a short bias on a contrarian basis.

You can find more info about the DailyFX SSI indicator here

USD/CHF 5-Minute Chart: June 1, 2016

USD/CHF Slightly Lower as Swiss 2Q GDP Data Beats Expectations

--- Written by Oded Shimoni, Junior Currency Analyst for DailyFX.com

To contact Oded Shimoni, e-mail oshimoni@dailyfx.com

Follow him on Twitter at @OdedShimoni

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

DISCLOSURES