The dollar, as I write this, I strengthening against a basket of currencies, including the Euro, Pound, Yen, CAD, AUD, NZD and CHF. Oopss, that's against everybody!
Looks like it will consolidate for the early part of this week. I just learned that with a -116-pip loss earlier that started-off my trading week.
One currency that caught my attention is the Swiss Franc. Let's take a look at what's up for this currency:
PPI m/m this afternoon - expected to be up 0.1% vs previous month's -0.2%. It could move the dollar-swiss pair higher if it prints out grimmer than expected or kick it down if it comes out better.
Industrial Production tomorrow - expected to drop by -11.7% from the previous quarter. Yep, you read it right... a whopping 11.7% drop. Whenever you get industrial production down that big, it's bound to ripple into other parts of the economy --- unemployment, inflation, etc - ultimately leading to impact on that country's currency.
I'm not really sure if this has been baked-in on the current pricing of the pair but if it does print-out like the disaster it's expected to be, then the USD/CHF pair will definitely be shaken. So, I'm keeping a close eye on this tomorrow. Expect heavy movement to start when the Europeans wake-up around 2pm, Manila.
Proud and Hoping
15 years ago
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