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Forex pairs in this Article » USD/CHF (Barcelona) - After the 50-pip plunge, from 0.9244 to 0.9194, seen on yesterday's US session ("German name" rumored to be behind it), the USDCHF has been trading mostly at 0.9210/20 range since then. As of writing, the pair is attempting at move above the upper band after the release of Switzerland data.

Swiss KOF Leading Indicators dropped from 1.28 to 1.05 in January, disappointing 1.16 consensus. Earlier, the publication of the UBS Consumption Indicator notes a rise from 1.23 to 1.34 in December.

The Spanish estimated GDP for Q4 points to a quarterly -0.7 drop. The annualized figure contracted further, from -1.4 (revised from -1.6) to -1.8 .

"The market continues to ease back near term from the 0.93835 December high and we look for the market to now stabilise ideally at 0.9195, but we remain unable to rule out a move to 0.9140", wrote Commerzbank analyst Karen Jones, expecting such movement to be of corrective nature only.
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