The Swiss franc was the strongest currency on the Forex market today, followed by the Japanese yen. Risk aversion was ruling markets as the coronavirus, which originated in China, continued to spread. Fears resulted in a rising demand for safe currencies, like the Swissie and the yen. Domestic economic data provided additional support for the currency of Switzerland.
The Swiss franc is strengthening against several currency rivals midweek as the country recorded its highest ever trade surplus in 2019. The latest data may give the central bank a headache as it attempts to justify its depreciating efforts after accusations of being a currency manipulator. With chaos in global financial markets, will investors continue to pour into the traditional safe-haven asset?
The Swiss franc rallied today amid the negative sentiment among investors. The franc is considered a safe currency, meaning that traders prefer to buy it in times of fear and uncertainty. And on Tuesday, there were plenty of news to spook speculators. Currently, though, the Swissie has lost its gains against most other rivals.
The Swiss franc is continuing its streak of gains on Monday, despite recent allegations that Switzerland is manipulating its currency. The franc is also finding direction on the latest trade prices, which have fallen over the last 12 months as Switzerland suffers from global trade uncertainty. Will the franc remain a safe-haven currency moving forward?
The Swiss franc was mixed today, rising against some currencies, staying flat versus others, and crashing against the US dollar and the Japanese yen. The market sentiment was stabilizing following yesterday’s risk aversion, limiting the appeal of safe currencies. Domestic macroeconomic data was positive and helpful to the Swissie.
The Swiss franc was rather soft today, falling against some major rivals and trading flat versus others. It looked like traders felt no need to buy safer currencies despite increasing tensions between the United States and China over Hong Kong protests and their potential negative impact on chances of reaching a trade deal. Domestic macroeconomic data did not help the Swissie either as the report released today […]
The Swiss franc is weakening against multiple currency rivals on Tuesday as the trade surplus narrowed in October. The currency also took a hit based on a gloomy outlook for the nation’s ailing manufacturing sector. With the central bank reiterating its support for currency intervention, the franc’s haven appeal may diminish in the coming months.
The Swiss franc is strengthening against a myriad of currencies on Thursday, buoyed by a decline in import and producer prices. Low unemployment and larger foreign exchange reserves have contributed to the franc’s gains as of late. But there is more than just data that is spurring global interest in the country right now: coffee.
The Swiss franc is trading sideways on Thursday as consumer confidence fell to a 10-year low. With the survey suggesting that the Swiss anticipate higher unemployment and weaker economic growth, the Organisation for Economic Cooperation and Development (OECD) slammed the federal government for posting budget surpluses. But local businesses are more perturbed by subzero interest rates than a government that is saving money.
The Swiss franc is mixed against a basket of currencies on Thursday as new data show machine export orders and producer and import prices declined. The Swiss economy continues to lose momentum amid the global trade war impacting markets everywhere. Despite the downward trends, investors are still pouring into the safe-haven asset, much to the chagrin of the Swiss National Bank (SNB).
