{"id":153161,"date":"2019-08-09T10:30:56","date_gmt":"2019-08-09T14:30:56","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=153161"},"modified":"2019-08-09T07:04:08","modified_gmt":"2019-08-09T11:04:08","slug":"eurchf-analysis-weak-euro-zone-improving-swiss-data-bearish-for-eurchf","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2019\/08\/eurchf-analysis-weak-euro-zone-improving-swiss-data-bearish-for-eurchf\/","title":{"rendered":"EURCHF Analysis: Weak euro-zone, improving Swiss data bearish for EURCHF"},"content":{"rendered":"
August 9, 2019<\/div>
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By IFCMarkets<\/a><\/strong><\/p>\n

Weak euro-zone and improving Swiss data bearish for EURCHF<\/strong><\/p>\n

Euro area data weakened while Swiss indicators improved. Will the EURCHF <\/a> decline continue?<\/p><\/blockquote>\n

Euro-zone economic data were weak after flash reading of GDP indicated economic growth slowed in Q2 in single currency area: contraction in manufacturing sector deepened in July, and services sector expansion slowed as Markit\u2019s manufacturing PMI declined to 46.5 from 47.6 and services PMI slipped to 53.2 from 53.6. For the same month KOF Leading Indicators for Switzerland rose to 97.1 from an upwardly revised 93.8 in June. Indicator improved in manufacturing, services and construction sectors. Weaker eurozone data and improving Swiss data are bearish for EURCHF.<\/p>\n

\"EURCHF<\/p>\n

On the daily timeframe EURCHF: D1 <\/b> is retracing lower after hitting 10-month high in the end of April, and is below the 50-day moving average MA(50) which is falling. These are bearish developments.<\/p>\n