USD/CHF:
The Swiss franc failed to break below its 100 DAY Moving Average during last week’s trading, and closed the week well above that support area. This led the pair to start the new week higher, reaching as high as 0.9225 so far, while the pair will be waiting for the Foreign Currency Reserves data which has no expectations. The previous result was 254.2B francs. In the meantime, technical indicators have turned higher again, which could be a sign that the downside retracement is almost over. The next obstacle resistance stands around 0.9280 followed by 0.93.
Foreign Currency Reserves: A financial calculation that measures the change in the foreign currency reserves held at the Swiss National Bank.
United Kingdom
GBP/USD: The British pound closed on Friday slightly higher, but the pair failed to break above 1.5836 resistance area during last week’s trading. The pair began the day lower again, reaching as low as 1.5750’s so far. The pair will be waiting for the Halifax HPI data, which is expected to recover to +0.1% vs. -0.9% during last month. In the meantime, technical indicators have turned lower and could indicate that further downside pressure could be seen during the day. The next obstacle support level is seen around 1.5750 followed by 1.5710.
Halifax HPI: A leading indicator for the housing sector that measures the change in the price of homes financed by Halifax Bank of Scotland.
Europe
EUR/USD: Like most currencies against the US dollar, the pair began the day lower reaching as low as 1.3060 so far. The pair failed to break above its 1.3235 resistance area during last week’s trading, while technical indicators are clearly negative since the beginning of the day. On other hand, the pair will be waiting for Investor Confidence data which is expected to remain negative at -14.8 vs. -21.1, and German Factory Orders data is expected to recover to 0.7% vs. -4.8%. The next obstacle support level is seen around 1.3050 followed by 1.3000.
Investor Confidence: A Diffusion index that measures investors’ confidence based on surveyed investors.
Germany Factory Orders: One of the leading indicators of the manufacturing industry that measures the change in the value of new purchase orders placed with manufacturers during the reported month. The index has a medium impact on the markets during normal conditions.