Investing.com - The dollar ended the week little changed against
the Swiss franc on Friday after U.S. data indicated that the
economic recovery remains uneven.
USD/CHF hit a session high of 0.9242 on Friday before settling back
at 0.9216 by close of trade, 0.05% higher for the day and up just
0.09% for the week.
The pair is likely to find support at 0.9166, Thursday's low and
resistance at 0.9244, Thursday's high and a more than two-week
The New York Federal Reserve reported manufacturing in New York
state expanded in February, while a survey showed a surprisingly
strong rise in U.S. consumer sentiment.
The Empire State manufacturing index rebounded to 10.0 in February,
from minus 7.8 in January, outstripping expectations for a reading
of minus 2.
The University of Michigan said its index of consumer confidence
rose to 76.3 from 73.8 in January, better than expectations for a
reading of 74.8.
However, a separate report showed that industrial production in the
U.S. slipped 0.1% in December after a revised 0.4% gain in
December. Economists had been expecting an uptick of 0.2%.
Elsewhere, the Swiss franc slid lower against the euro on Friday,
trimming gains from the previous session after data showed that the
recession in the euro zone deepened in the fourth quarter.
The euro zone's economy contracted by 0.6% in the three months to
December, compared to expectations for a 0.4% decline.
Germany's economy, the bloc's largest, contracted by 0.6% in the in
the fourth quarter, more than expectations for a 0.5% drop on
declining exports and investment.
On Monday, Swiss National Bank board member Fritz Zurbruegg said
the franc was still overvalued and said that the 1.20 per euro
minimum exchange rate imposed by the bank in September 2011 would
remain in place for some time.
In the week ahead investors will be awaiting Wednesday's minutes of
the Federal Reserve's January meeting, while Swiss trade data will
also be closely watched.
Ahead of the coming week, Investing.com has compiled a list of
these and other significant events likely to affect the markets.
The guide skips Tuesday and Friday as there are no relevant events
on these days.
Monday, February 18
Markets in the U.S. are to remain closed for the President's Day
Wednesday, February 20
Switzerland is to publish a report on ZEW economic expectations.
The U.S. is to release official data on building permits, a strong
indicator of future construction activity, as well as data on
housing starts. The U.S. is also to publish official data on
producer prices, while the Federal Reserve is to release the
minutes of its most recent policy meeting.
Thursday, February 21
Switzerland is to publish official data on the trade balance, the
difference in value between imports and exports.
The U.S. is to release official data on consumer price inflation as
well as the weekly government report on initial jobless claims. The
U.S. is also to publish industry data on existing home sales, a
report on manufacturing activity in Philadelphia and official data
on crude oil stockpiles.
offers an extensive set of professional tools for the Forex,
Commodities, Futures and the Stock Market including real-time data
streaming, a comprehensive economic calendar, as well as financial
news and technical & fundamental analysis by in-house experts.
Read more News on Investing.com or Follow us on Twitter at @