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EUR/CHF Shows at New 2021 Low

FOREX
  • Modest downside pressure on EUR/CHF has persisted this morning, with the cross showing at new 2021 lows of 1.0721, the lowest level since November last year. While persistent CHF strength may normally suggest a bout of risk-off, equity markets are trading solidly, with uniform gains across European cash markets as well as US index futures.
  • JPY is the poorest performer so far Thursday, helping USD/JPY hold above the 109.50 level and retain the recovery off the week's lows. This keeps US weekly jobless claims and and trade balance data in focus as markets gear up for Friday's payrolls release.
  • AUD and NZD remain firm, with antipodean currencies remaining strong after the Kiwi jobs data earlier in the week suggested August's RBNZ decision could see rate hikes in play.
  • The Bank of England rate decision takes focus going forward, with markets focusing on the vote split for the asset purchase target as well as any conclusions drawn from the Bank's assessment of the sequencing for the unwinding of the bank balance sheet at a later date.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
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MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
Energy BulletsCommodities

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