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.



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

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
Oil - US Crude
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
Wall Street
More View more
Real Time News
  • 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:
  • The non-farm payroll (NFP) figure is a key economic indicator for the United States economy. It is also referred to as the monthly market mover. Find out why it has been given this nickname here:
  • Looking for a new way to trade reversals? One of the most used reversal candle patterns is known as the Harami. Like most candlestick formation patterns, the Harami tells a story about sentiment in the market. Get better with trading reversals here:
  • It’s important for traders to be familiar with FX spreads as they are the primary cost of trading currencies. Understand a pair's spread here:
  • The British Pound is giving back some of its multi-month gains with some pairs testing notable support despite a positive fundamental backdrop. Get your market update from @nickcawley1 here:
  • Dealing with the fear of missing out – or FOMO – is a highly valuable skill for traders. Not only can FOMO have a negative emotional impact, it can cloud judgment and overshadow logic. Learn how you can control FOMO in your trading here:
  • Gold is facing the neckline of a Double Bottom Pattern after bouncing off a confirmed longer-term trendline. Is a bullish reversal in order? Get your market update from @FxWestwater here:
  • Central banks often deem it necessary to intervene in the foreign exchange market to protect the value of their national currency. Learn how central bank intervention can impact your trading here:
  • Rollover is the interest paid or earned for holding a currency spot position overnight. Learn how to earn rollover interest on your open positions here:
  • The New Zealand Dollar is in a tricky spot. On one hand, rising stocks can propel NZD. On the other, a dovish RBNZ ahead could cool bond yields as the government tackles soaring housing costs. Get your market update from @ddubrovskyFX here:
Swiss Franc Moving Like Clockwork Despite Poor GDP Data

Swiss Franc Moving Like Clockwork Despite Poor GDP Data

Oliver Morrison, Analyst

Talking Points:

- Swiss GDP was flat in Q3’16, well below market expectations of an expansion to +0.3%.

- The SNB is highly unlikely to announce additional stimulus when it meets on December 15.

- EUR/CHF rallied yesterday but has quickly lost its gains.

Weak Swiss GDP data surprised markets Friday morning, coming in flat at 0.0% in Q3’16, after rising +0.6% in the previous quarter. The print was significantly below market expectations of an expansion to 0.3%. Growth was also down year-on-year, slowing to +1.3% from +2% in Q2, again missing forecasts of a +1.8% rise on the same period the previous year, according to the State Secretariat for Economic Affairs Friday.

The fall in Swiss GDP – this is the weakest performance in more than a year – bears out recent warnings from the Organization for Economic Cooperation and Development of the rising likelihood of Switzerland feeling the ill-effects of negative rates. However, the Swiss Bank last week said that it plans to keep interest rates in negative territory (they’ve been at a record low of -0.75 since November 2015) for the foreseeable future to prevent the franc from appreciating too far: Switzerland relies heavily on exports and it needs a weak currency so it’s not priced out of international markets.

Rates are therefore highly likely to stay where they are when the Swiss National Bank meets for a policy update on December 15. Indeed, the OECD said the Swiss authorities would need to adopt ‘macro prudential’ measures if it wants to stoke inflation.

There are also a plethora of political risks in the Euro-Zone approaching, such as Sunday’s Italian referendum and elections in Austria (also on Sunday), the Netherlands, France and Germany, that are set to put pressure on the Euro and keep the franc strong.

This is the likely reason that the EUR/CHF failed to maintain its rally yesterday, made on the back of a report that suggested the European Central Bank would extend its bond-buying program to March – as widely expected – but also signaled the program would eventually be tapered out. This was initially taken as Euro-positive, but the Euro remains in a bearish trend and liable to volatility owing to these said political risks. The Euro was unable to sustain its rally against the Swiss Franc and was last seen back at 1.0751.

Chart 1: EUR/CHF 1-hour Chart (November 29 to December 2, 2016)

Swiss Franc Moving Like Clockwork Despite Poor GDP Data

Read more: Mixed December US Jobs Report Gives Few New Reasons for USD Bulls

--- Written by Oliver Morrison, Analyst

To contact Oliver, email him at

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