Trading Account

Trading Account

Monthly Trading Results

Monthly Trading Results

Monday, August 17, 2009

Swiss retail sales results

Here is the news update about Swiss retail sales. Looks like they picked a similar area of resistance or the EUR/CHF and are bullish on both pairs mentioned above certain levels.

Swiss Retail Sales Recover Into Positive Territory
London, August 17. Swiss Retail Sales data from June is currently being digested, with the latest numbers from the Federal Statistics Office showing a 0.9% rise on the year, coming against the previous decline of 1.4% in May. When adjusted for inflation and shopping days retail sales also read +0.9% Y/Y.
Macro players pressured the Franc into the release, with USD/CHF hitting a 1.0789 peak. This was aided by the EUR/CHF recovery to the 1.5240 highs, with locals once again jittery over official Swiss interests in the cross towards 1.5200. Offers into the 1.08-area will remain in focus following the release, as long as EUR/CHF continues to head higher. Look for a pop above the figure to generate fresh follow-through.

No comments:

Post a Comment