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Major CHF Gains seen after Trump Turmoil

January 12, 2017 - Written by Minesh Chaudhari

The Swiss Franc fell from its best levels against the US Dollar on Friday afternoon as market sentiment towards the US Dollar recovered slightly and investors eased their positions on the ‘safe haven’ Franc.

Friday’s US data was generally optimistic. While December’s retail sales figures didn’t meet expectations at 0.7%, the 0.6% result was solid enough for markets. Traders were also pleased that the University of Michigan’s confidence results had only slipped slightly.

[Previously Updated: 12/01/2017]

The Swiss Franc fell from its best levels against the US Dollar on Friday afternoon as market sentiment towards the US Dollar recovered slightly and investors eased their positions on the ‘safe haven’ Franc.

Friday’s US data was generally optimistic. While December’s retail sales figures didn’t meet expectations at 0.7%, the 0.6% result was solid enough for markets. Traders were also pleased that the University of Michigan’s confidence results had only slipped slightly.

Swiss Franc Currency Update: Favourable Gold Prices Keep CHF Firm against USD



Investors in the Swiss Franc have been having a field day when trading against the US Dollar on Thursday, thanks to widespread turbulence in the US after a press conference from President-Elect Donald Trump.

Sticking to the Swiss Franc for the moment, the currency has been greatly aided by gold costs, which have climbed notably due to a lack of uncertainty in the US. This has bolstered demand for the CHF considerably, without the aid of any supportive Swiss data releases.

Looking ahead to influencers of the Swiss Franc, January 18th will bring the ZEW economic sentiment index for January.

A sign of how the Swiss economy is perceived to be faring, this figure previously hit positive 12.9.

Another notable incoming announcement will be January 26th’s balance of trade figure for December, which posted a prior surplus in November of 3.64bn.

US Dollar Interest Ebbs after Rocky Start to 2017 for Trump



President-Elect Trump’s remarks, or rather their lack of focus, have severely weakened the US Dollar recently, as have some concerning data releases out of the US.

Regarding Trump, his grand return to public media before next week’s inauguration was an extremely unpleasant affair for the soon-to-be President. In addition to offering a dubious solution to potential business conflicts by handing his assets over to his sons, Trump also returned to one of his grandest and most far-fetched plans – to build a vast border wall with Mexico.

Trump remained adamant that Mexico would, in one way or another, be paying for the construction. While this was a resurrection of an old policy, Trump was frustratingly short on details for fresh economic strategies, which led investors to abandon the US Dollar in droves.

As well as personal blunders, Trump’s talk was also overshadowed by allegations of highly deviant sexual behaviour, which came from a sensational and potential fabricated leaked intelligence document.

Data releases provided no relief, with initial benefits claims in the US rising at the start of January.

Notable US news out on Friday will include retail sales for December, as well as confidence figures for January.

A US Dollar recovery could take place, assuming that sales and confidence rise as forecast.

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