The Pound Sterling (GBP) has risen by 0.6% against the Swiss Franc (GBP/CHF) today as the price of gold has remained at a low cost, trending in the region of $1081 per 100 ounces for the second day in a row.
UK Rightmove House Prices set to Generate GBP/CHF Movement First Next Week
As with the earlier post, the first relevant data of next week will be the UK Rightmove House Prices for November. Although no predictions have been made, the response to a rising figure may be negative as yesterday the Royal Institute of Chartered Surveyors (RICS) all but predicted a housing bubble in the next 5 years; a notable price jump on Monday may be a further indicator that this is happening.
Earlier…
The Pound Sterling to Swiss Franc (GBP/CHF) exchange rate has risen marginally today despite having no positive data to support this, while the Franc (CHF) has been trending narrowly due to poor domestic data today.
GBP/CHF Exchange Rate News: Unfavourable UK Conditions fail to Dampen Investor Confidence Today
The Pound Sterling (GBP) has made fractional gains against the Swiss Franc (GBP/CHF) today, although greater gains of over 0.4% against the Swedish Krona (GBP/SEK), the Polish Zloty (GBP/PLN) and the Russian Ruble (GBP/RUB) have also been recorded. The most notable loss for the Pound has been by -0.2% against the Egyptian Pound (GBP/EGP).
The Pound’s positive faring today has been at odds with the domestic situation, as today the UK has only had dovish remarks from Bank of England (BoE) Chief Economist Andy Haldane and negatively-printing UK September Construction Output figures to speak of.
Minor Gold Price Uptick puts ‘Swissie’ in Weak Position against Rivals and in CHF/GBP Exchange Rate Today
The Swiss Franc (CHF) has trended narrowly in a negative range against the Pound Sterling (CHF/GBP) today and elsewhere the ‘Swissie’ has fallen by -0.2% against the Australian Dollar (CHF/AUD), levelled out against the US Dollar (CHF/USD) and hit a high of 0.3% against the Euro (CHF/EUR).
The only Swiss economic releases today have been the Producer and Import Prices for October, which have printed growth of 0.2% on the month and a contraction of -6.6% on the year. The price of gold per 100 ounces has risen marginally this morning, although the small increase from around $1081 to $1083 has not had a major effect on the Swiss currency’s performance.
GBP/CHF Exchange Rate Forecast: UK Data likely to put Sterling Ahead Next Week
Neither the Pound Sterling (GBP) nor the Swiss Franc (CHF) have any remaining economic publications due before the weekend this week, therefore the exchange rate is unlikely to make any dramatic movements until Monday at the earliest.
Such movement is most likely to be caused by the UK Rightmove November House Prices and the Swiss Total and Domestic Sight Deposits up to November 13th.
As of writing, no forecasts had been assigned to either set of results, although the price of gold is still likely to shift the GBP/CHF exchange rate in the meantime.
Current GBP, CHF Exchange Rates
The Pound Sterling to Swiss Franc (GBP/CHF) exchange rate was trending in the region of 1.5234 and the Swiss Franc to Pound Sterling (CHF/GBP) exchange rate was trending in the region of 0.6570 today.
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