Market news

Show news:


16.08.2019 19:07

EUR may continue to weaken against CHF - ING

Francesco Pesole, an FX Strategist at ING, notes the EUR/USD came under pressure yesterday and touched 1.11 after comments by ECB’s rate-setting committee member Olli Rehn fostered expectations that the Bank will deliver a heavy package of monetary easing in September.

  • "Indeed, market expectations about the September meeting are already aggressively on the dovish side: 18bp of easing is priced in, close to our call for a 20bp cut. Rehn’s remarks exacerbated the existing battered sentiment on EUR after the weak data-flow this week, but EUR/USD may have run short of more downside drivers today. In turn, the 1.110 level could play as a fairly solid support on the day.
  • By contrast, the euro may continue to weaken against CHF, which should benefit from three key factors including ECB’s easing expectations, escalating trade tensions; and rising political uncertainty in Italy. In our view, EUR/CHF has the potential to edge below 1.08 in the coming weeks. In terms of economic releases, investors may want to keep an eye on June export data today, mainly with the aim of spotting any slowdown in eurozone exports caused by global trade tensions."


Keep up with latest Forex market news updates: Currencies, central banks, economic indicators for oil and gold trading – all you need to work effectively on Forex.

Market focus

October 2019
  • 2019
  • 2018
  • 2017
  • 2016
  • 2015
  • 2014
  • 2013
  • 2012
  • 2011
  • 2010
  • 2009
  • 2008
  • 2007
  • 2006
  • 2005
  • 2004
  • 2003
  • 2002
Mon
Tue
Wed
Thu
Fri
Sat
Sun
21
22
23
24
25
26
27
28
29
30
31

Forex is open 24 hours a day, 5 days a week (except national holidays), and it can be broken up to the following four regional markets: Australia and Oceania, Asia, Europe, and America. A Forex trading session opens at 23:00 GMT on Sunday in Japan and closes at 22:00 GMT on Friday in the USA.

 
Session Financial Centres UTC/GMT
OpenClose
EET
OpenClose
Local Time
OpenClose
Pacific Wellington 19:00 04:00 22:00 07:00 22:00 07:00
Session Financial Centres UTC/GMT
OpenClose
EET
OpenClose
Local Time
OpenClose
Sydney 21:00 06:00 00:00 09:00 00:00 09:00
Session Financial Centres UTC/GMT
OpenClose
EET
OpenClose
Local Time
OpenClose
Asian Tokyo 23:00 08:00 02:00 11:00 02:00 11:00
Session Financial Centres UTC/GMT
OpenClose
EET
OpenClose
Local Time
OpenClose
Hong Kong, Singapore 00:00 09:00 03:00 12:00 03:00 12:00
Session Financial Centres UTC/GMT
OpenClose
EET
OpenClose
Local Time
OpenClose
European Frankfurt, Zurich, Paris 06:00 15:00 09:00 18:00 9:00 18:00
Session Financial Centres UTC/GMT
OpenClose
EET
OpenClose
Local Time
OpenCloseе
London 07:00 16:00 10:00 19:00 10:00 19:00
Session Financial Centres UTC/GMT
OpenClose
EET
OpenClose
Local Time
OpenClose
American New York 12:00 21:00 15:00 00:00 15:00 00:00
Session Financial Centres UTC/GMT
OpenClose
EET
OpenClose
Local Time
OpenClose
Chicago 13:00 22:00 16:00 01:00 16:00 01:00