Euro/Swiss Franc (EUR/CHF) Exchange Rate
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While Switzerland handled the first wave of the COVID-19 pandemic better than most of its European neighbors, the conditions during the second wave are notably worse.
Switzerland reports an uptick in Covid-19 cases, but at a smaller pace than most of its European counterparts
Switzerland witnessed a gradual increase in new Covid-19 infection since mid-June when it started to open its land borders and eased restrictions.
Total Covid-19 cases in Switzerland crossed above 44,400 in the Alpine financial center with a population shy of 8,700,000, while the death toll climbed above 2,000.
The EUR/CHF has experienced what some technical traders may interpret as sideways action the past month.
Eurozone governments are poised to rollback support measures for businesses, implemented as a response to the Covid-19 pandemic.
The past five trading sessions shows the EUR/CHF is nearly within the center of its range.
An article published in the Swiss Journal of Economics and Statistics suggested the use of a daily fever curve (f-curve) to gauge the health of the Swiss economy.
Guy Parmelin, the Vice President of Switzerland and the minister responsible for the Federal Department of Economic Affairs, Education and Research,
The Swiss Franc has enjoyed a very public display of love from investors who believe the currency is very stable and its central bank is governed properly.
The Euro has tried to rally several times during the month of June but has given back those gains every time it tried
Deflation fears across the Eurozone are on the rise, adding to a growing list of concerns for the European Central Bank to address.
Optimism over the proposed Franc-German one-off €500 billion fund, to assist economic recovery across the European Union in the aftermath of the Covid-19 pandemic,
Eurozone sentiment data was reported below already depressed expectations, presenting the latest sign the economy is in significantly worse shape than forecast.
Divisions across the European Union and the Eurozone are laid bare, as the global Covid-19 pandemic is shining a light on the core of economies.
As risk-off sentiment returned on the back of a surge in confirmed Covid-19 cases in China, the Swiss Franc is attracting bids.
This currency pair is exposed to central banks on a mission to devalue their respective currencies.
With the long-term downtrend in this currency pair intact, supported by fundamental developments, the short-term technical picture suggests a short-covering rally is pending.
Upward revisions to final December PMI data across the Eurozone and better-than-expected retail sales failed to boost the Euro significantly
While the long-term outlook for the EUR/CHF remains bearish, a short-term recovery is favored to take this currency pair out of extreme oversold conditions.