Filed Under:
Forex pairs in this Article » USD/CHF (Barcelona) - The European opening retraced all gains made during until then and sent the USDCHF to a 20-pip fall that found a low at 0.9166, around Friday's close. The economic calendar is pretty empty besides of UK inflation data coming in the way, and risk sentiment didn't hesistate despite rising Spanish bad loans from 10.7% to 11.23% in October.

Also in the news is the bank repo rate cut by 25bp to 1.0% by Riksbank, the Swedish central bank. The Spanish government is selling ¬3.5B worth of 3 and 6-month Treasury bills and Greece is auctioning ¬1.0B worth of 13-week debt.

"The pair consolidates recent losses, moving within narrow range above yesterday's fresh low at 0.9151, with upside being capped under initial 0.9200 barrier for now", wrote Windsor Brokers analyst Slobodan Drvenica, favoring a corrective bounce signaled by oversold 4h conditions, while overall tone remains bearish.
comments powered by Disqus