Franc Falls Against Euro [EUR/CHF]
4/23/2008 8:30:40 AM The Swiss currency was weak against the euro in trading on Wednesday morning. The fall took the franc to 1.6072 against the euro. The pair traded as Euro zone composite output index rose slightly in April. The composite output index climbed slightly to 51.9 in April from 51.8 in March. The report said that the pace of expansion in the private sector remained weak and below the average recorded during the first quarter of 2008. Also, Euro zone industrial new orders grew 0.6% month-on-month in February.
Franc Drops In Trading Versus Euro [EUR/CHF]
4/18/2008 8:31:57 AM Versus the euro, the Swiss franc saw weakness into the mid morning action on Friday. The franc fell to 1.6140 as trading progressed. The currencies moved as German producer price inflation increased more than expected in March. The Federal Statistical Office announced that producer price annual inflation accelerated to 4.2% in March from 3.8% in February.
Euro Climbs To New Multi-week High Against Swiss Currency [EUR/CHF]
4/18/2008 2:39:58 AM The European currency recovered the losses it incurred in early Friday Asian trading against most majors towards the end of the session. The euro thus surged to a new multi-week high versus the franc. Against the pound, the euro pared the early gains during this time.
Germany`s producer price annual inflation accelerated to 4.2% in March from 3.8% in February, the Federal Statistical Office reported today. Economists had expected the rate to increase to 4%. The statistical office said this is the highest year-on-year rate of price increase since December 2006, when it was up 4.4%. A year ago, producer price annual inflation stood at 2.5%. On a monthly basis, the Producer Price Index, or PPI, grew 0.7%, unchanged from February and faster than the 0.5% expected.
The euro is now trading at 1.5940 against the dollar and 163.13 against the yen, gained from 1.5886 and 162.70 hit respectively at 10:55 pm ET. The euro-dollar pair closed yesterday`s New York session at 1.5909 and the euro-yen pair at 163.08.
The Japanese consumer sentiment index improved in March with the reading increasing slightly to 36.7 from 36.1 in February. Economists had expected the indicator to rise to 37.4. A year ago, the indicator stood at 46.8.
The euro touched a low of 1.5980 against the franc before bouncing back at 10:55 pm ET. The pair rose to a new multi-week high of 1.6018 by about 2:00 am ET, compared to 1.6010 hit late Thursday in New York.
The euro climbed to 0.7997 against the pound by about 9:55 pm ET. But the pair lost ground thereafter and reached 0.7982 at 2:15 am ET. The pair was worth 0.7989 at yesterday`s close.
The Italian industrial orders and the British M4 money supply are expected in the upcoming hours.
Euro Surges To New Multi-week High Against Franc [EUR/CHF]
4/18/2008 2:26:22 AM The European currency recouped the losses it suffered in early Friday Asian trading against the franc towards the end of the session. The pair thus climbed from 1.5980 to 1.6018 at 2:00 am ET. This set a new multi-week high for the euro. The pair closed yesterday`s trading at 1.6010.