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Swiss Franc Mixed, Domestic Macros Provide Support

September 2, 2019 at 23:14 by Vladimir Vyun

10, 20, 50 and 100 Swiss franc banknotesThe Swiss franc was somewhat mixed on Monday, rising against some currencies and falling versus others. Domestic macroeconomic data was helpful to the Swissie.

Switzerland’s Federal Statistical Office reported that seasonally adjusted retail sales rose 1.4% in July from a year ago versus the expected increase of 0.9% and the 0.7% gain registered in the previous month. The manufacturing Purchasing Managers’ Index edged up to 47.2 in August from 44.7 in July, exceeding the average forecast of 45.6. While the index remained in the contractionary territory, at least it showed that the sector was contracting with a slower pace.

USD/CHF went up from 0.9893 to 0.9907 as of 23:13 GMT today, and its daily high was at 0.9919. EUR/CHF inched down from 1.0871 to 1.0863, retreating from the session maximum of 1.0893.

If you have any questions, comments, or opinions regarding the Swiss Franc, feel free to post them using the commentary form below.

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