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EUR/CHF steadies after sharp losses, Swiss deflation keeps Franc supported

  • EUR/CHF steadies after three days of sharp losses, attempting to rebound from three-week lows.
  • Eurozone Industrial Production shows mixed signals, with monthly growth improving but missing forecasts.
  • Swiss producer prices fall again, extending a long deflation streak and keeping the Franc supported.

The Euro is little changed against the Swiss Franc on Thursday, steadying after erasing some earlier losses as the pair stages a modest rebound from three-week lows. At the time of writing, EUR/CHF is trading around 0.9243, with the cross attempting to stabilize after three days of sharp selling pressure.

Eurozone data offered a mixed picture. Industrial Production for September rose 0.2% MoM, below expectations of 0.7%, but still an improvement from the -1.1% decline in August (revised from -1.2%). On a yearly basis, Industrial Production increased 1.2 percent, falling short of the 2.1 percent forecast and edging only slightly above the 1.1 percent recorded in August.

In a separate release, the European Central Bank (ECB) Economic Bulletin repeated that the Eurozone growth outlook remains subdued. The bulletin noted that domestic demand is holding up reasonably well due to improving real incomes, but manufacturing and exports remain under pressure from weaker global activity and the impact of trade tensions. The ECB also highlighted that wage growth is expected to ease gradually, while inflation indicators remain close to the 2% target, keeping policy decisions dependent on incoming data.

On the Swiss side, the latest producer-level inflation numbers kept the Franc broadly supported. Switzerland’s Producer and Import Prices fell 1.7% YoY in October, compared with a 1.8% drop in September.

On a monthly basis, prices declined 0.3%, missing expectations for a 0.1% increase and slipping further from the 0.2% fall in the previous month. This marked the 30th consecutive month of producer-level deflation, reflecting lower prices for both locally produced goods and imported items.

Looking ahead, traders will turn their focus to a busy Eurozone calendar on Friday. The region will release its preliminary quarterly Employment Change report and the flash estimates for third-quarter Gross Domestic Product (GDP). The European Commission will also publish its updated economic growth forecasts. Alongside the data, markets will listen closely to comments from ECB officials.

Swiss Franc Price Today

The table below shows the percentage change of Swiss Franc (CHF) against listed major currencies today. Swiss Franc was the strongest against the New Zealand Dollar.

USDEURGBPJPYCADAUDNZDCHF
USD-0.21%-0.22%-0.03%0.04%-0.14%0.06%-0.23%
EUR0.21%-0.02%0.20%0.25%0.06%0.27%-0.03%
GBP0.22%0.02%0.20%0.27%0.09%0.29%-0.00%
JPY0.03%-0.20%-0.20%0.03%-0.13%0.04%-0.22%
CAD-0.04%-0.25%-0.27%-0.03%-0.17%0.01%-0.27%
AUD0.14%-0.06%-0.09%0.13%0.17%0.20%-0.09%
NZD-0.06%-0.27%-0.29%-0.04%-0.01%-0.20%-0.29%
CHF0.23%0.03%0.00%0.22%0.27%0.09%0.29%

The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Swiss Franc from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent CHF (base)/USD (quote).

Author

Vishal Chaturvedi

I am a macro-focused research analyst with over four years of experience covering forex and commodities market. I enjoy breaking down complex economic trends and turning them into clear, actionable insights that help traders stay ahead of the curve.

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