The Swiss Franc is trading softer against the Euro and is weaker against the Pound and US Dollar as demand for riskier assets improved following last week’s resolution to the debt ceiling issues in the world’s largest economy.
The Franc fell early in the session before recovering some ground after data showed that Switzerland’s M3 Money supply for September showed a year on year increase of 9.7%. As the market analysed the report published by the Swiss National Bank the Franc was able to edge higher against a number of its peers and recover from intra-day lows against the Euro and US Dollar.
As the session progressed the Franc weakened against the Euro after data showed that German Producer prices increased month on month but stayed stable on a yearly basis. Elsewhere in the Eurozone, Italian Industrial Orders for August took investors by surprise after it jumped to 2%, well above forecasts for a monthly gain of just 0.5%.
Against the US Dollar the Franc fell as investors await the release of a plethora of important data reports that were delayed by the government shutdown. The September nonfarm payrolls report, which had been originally scheduled for release on October 4, is due later in the session.
Also highly anticipated is the release of Septembers US existing home sales data which is forecast to show a decline, casting doubt on the strength of the US economy and the possible negative impacts of the government shutdown. If the data comes in worse-than-forecast the Franc is likely to make gains.
Current Swiss Franc (CHF) Exchange Rates
Swiss Franc/ Euro Exchange Rate is currently in the region of: 0.8095
Swiss Franc/US Dollar Exchange Rate is currently in the region of: 1.1071
Swiss Franc/ Pound Sterling Exchange Rate is currently in the region of: 0.6847
Swiss Franc/ Australian Dollar Exchange Rate is currently in the region of: 1.1448
(Correct as of 12:00 pm GMT)
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