EUR/CHF is a rarely traded asset. In the meantime, there is much to see!
Tag - chf - swiss franc
Asian equity markets were mostly higher as the region took its cue from the predominantly strong performance stateside where the S&P 500 and DJIA rallied to fresh record highs.
GBP/USD has just surpassed the hurdle at 1.3005
EUR/USD very little changed since this morning trading at the area of 1.1680, while USDJPY is trading at 104.50
U.S. stock markets are set to open with a modest bounce after their worst day in over a month on Monday.
CHF/JPY retraced 61.8% of its August-September decline, corrected down, formed a higher low above the 100-day MA and now seems eager to rise to the 78.6% Fibonacci level at 116.90.
EURCHF is a rare cross pair that is nonetheless very interesting both from the technical and fundamental point of view. Let’s throw a strategic look at it to see what we may expect in the nearest future.
Looking ahead, highlights from macroeconomic calendar include Eurozone CPI US Retail Sales and University of Michigan, European Council Summit and Fed’s Williams speech.
European stock markets are seen opening mixed Tuesday, with investors having to sift through the conflicting impulses of strong Chinese export data and a setback in the progress towards a Covid-19 vaccine.
US stock markets are indicated to open higher, still supported by hopes of support for the US economy after the administration’s abrupt pivot on Wednesday.
GBP/USD is trading above the key pivot point level. Further bullish momentum will trigger the market to the resistance area of 1.3045.
Very muted market reaction after NFP. However, given the margin of error some of the recent prints have seen (in relation to consensus estimates), this can be considered a rather "in-line" release.