Forex Market: EUR/CHF daily trading forecast

Yesterday’s trade saw EUR/CHF within the range of 0.9842-1.0033. The pair closed at 0.9888, losing 0.77% on a daily basis, which also marked a third consecutive daily drop.
At 7:54 GMT today EUR/CHF was down 0.08% for the day to trade at 0.9894. The pair touched a daily low at 0.9868 at 6:00 GMT.

Fundamentals

Euro zone

Manufacturing and Services PMI – preliminary data France’s manufacturing PMI probably remained in the zone of contraction for a ninth consecutive month in January, with the preliminary index estimate being at 48.1, according to the median forecast by experts. The final PMI stood at 47.5 in December, as reported on January 2nd, down from a preliminary reading of 47.9. December’s PMI level has been the lowest since August 2014, when the final index was reported at 46.9. Values below the key level of 50.0 indicate that the majority of respondents in the survey expressed pessimism in regard to activity in the sector. Markit Economics is expected to release the preliminary figure at 8:00 GMT.
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