Free Trial

EUR/CHF Recovers Off 2021 Lows

FOREX
  • The AUD trades favourably, prompting a recovery in AUD/USD back above $0.75 and toward Friday's highs of $0.7512. Decent gains are also noted against the JPY, with the AUD/JPY cross recovering off Friday's 84.61, eyeing initial resistance at 85.546 ahead of last week's high of 86.26.
  • Haven currencies including CHF and JPY trade poorly, with CHF slipping against most others. This has prompted EUR/CHF to recover off YTD lows printed Friday at 1.0659 - which may raise some speculation over the SNB's willingness to intervene at current levels or lower.
  • The USD Index is holding the middle ground, sitting in very minor negative territory and comfortably above the 50-dma support of 93.3088.
  • The data slate is light Monday, with just the Chicago Fed National Activity Index for September on the docket. The Fed have entered their pre-decision media blackout, so no speeches due outside of an appearance from BoE's Tenreyro at 1400BST/0900ET. She speaks on supply chains and monetary policy.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.