Investing.com – The week beginning October 11 comes after a week which saw the U.S. dollar plummet to an all-time low against the Swiss franc as the prospect of another round of quantitative easing by the Federal Reserve weighed the greenback.
USD/CHF hit 0.9554 on Thursday, the pair’s all time low; the pair subsequently consolidated at 0.9625 by close of trade on Friday, plunging 1.32% over the week.
The pair is likely to find short-term support at 0.9500 and resistance at 0.9842, the high of October 1.
The dollar briefly pared losses on Thursday after official data showed that U.S. initial jobless claims rose more-than-expected in the week ending October 2. But the greenback resumed its descent after official data released Friday showed that U.S. non-farm payrolls fell unexpectedly in September, down for the fourth consecutive month.
Next week, the U.S. is to publish its closely watched weekly report on initial jobless claims as well as key data on inflation, retail sales and consumer sentiment. In addition, Federal Reserve chairman Ben Bernanke is to speak at two public engagements, while the bank is to publish the minutes of the most recent meeting of its monetary policy committee.
Meanwhile, Switzerland is to publish official data on producer price inflation.
Ahead of the coming week, Investing.com has compiled a list of these and other significant events likely to affect USD/CHF.
Monday, October 11
Markets in the U.S. will remain closed on Monday for the Columbus Day holiday.
Tuesday, October 12
The U.S. is to publish the minutes of the most recent meeting of the Federal Reserve’s Federal Open Market Committee. The minutes provide in-depth insights into the economic conditions that influenced their vote on where to set interest rates.
Wednesday, October 13
The U.S. is to release key data on import prices, while Federal Reserve Chairman Ben Bernanke is due to speak at a public engagement. His comments will be closely scrutinized for any clues to the future direction of monetary policy.
Also Wednesday, Switzerland is to produce information on its producer price index, a leading indicator of consumer inflation.
Thursday, October 14
The U.S. is to release key weekly data on initial jobless claims, a leading indicator of overall economic health. The country is also to publish a report on producer prices, a leading indicator of consumer inflation.
Later in the day, the U.S. will publish official data on its trade balance, the difference in value between imported and exported goods during the month, as well reports on crude oil and natural gas stockpiles.
Friday, October 15
The U.S. is to round up the week by producing official data on retail sales, business inventories and its consumer price index, while the University of Michigan is to release preliminary data on consumer sentiment and inflation expectations.
Also Friday, the Federal Reserve Bank of New York is due to release key data on the city’s manufacturing sector while Fed chair Ben Bernanke will be speaking at a public engagement. His comments will be closely watched for any clues to the future direction of monetary policy.
USD/CHF hit 0.9554 on Thursday, the pair’s all time low; the pair subsequently consolidated at 0.9625 by close of trade on Friday, plunging 1.32% over the week.
The pair is likely to find short-term support at 0.9500 and resistance at 0.9842, the high of October 1.
The dollar briefly pared losses on Thursday after official data showed that U.S. initial jobless claims rose more-than-expected in the week ending October 2. But the greenback resumed its descent after official data released Friday showed that U.S. non-farm payrolls fell unexpectedly in September, down for the fourth consecutive month.
Next week, the U.S. is to publish its closely watched weekly report on initial jobless claims as well as key data on inflation, retail sales and consumer sentiment. In addition, Federal Reserve chairman Ben Bernanke is to speak at two public engagements, while the bank is to publish the minutes of the most recent meeting of its monetary policy committee.
Meanwhile, Switzerland is to publish official data on producer price inflation.
Ahead of the coming week, Investing.com has compiled a list of these and other significant events likely to affect USD/CHF.
Monday, October 11
Markets in the U.S. will remain closed on Monday for the Columbus Day holiday.
Tuesday, October 12
The U.S. is to publish the minutes of the most recent meeting of the Federal Reserve’s Federal Open Market Committee. The minutes provide in-depth insights into the economic conditions that influenced their vote on where to set interest rates.
Wednesday, October 13
The U.S. is to release key data on import prices, while Federal Reserve Chairman Ben Bernanke is due to speak at a public engagement. His comments will be closely scrutinized for any clues to the future direction of monetary policy.
Also Wednesday, Switzerland is to produce information on its producer price index, a leading indicator of consumer inflation.
Thursday, October 14
The U.S. is to release key weekly data on initial jobless claims, a leading indicator of overall economic health. The country is also to publish a report on producer prices, a leading indicator of consumer inflation.
Later in the day, the U.S. will publish official data on its trade balance, the difference in value between imported and exported goods during the month, as well reports on crude oil and natural gas stockpiles.
Friday, October 15
The U.S. is to round up the week by producing official data on retail sales, business inventories and its consumer price index, while the University of Michigan is to release preliminary data on consumer sentiment and inflation expectations.
Also Friday, the Federal Reserve Bank of New York is due to release key data on the city’s manufacturing sector while Fed chair Ben Bernanke will be speaking at a public engagement. His comments will be closely watched for any clues to the future direction of monetary policy.