Its not been a great day for the pound vs the Swiss Franc and exchange rates have dropped 0.85% however exchange rates are still close to an 18 month high. Brexit sentiment has changed in the last 3 months as the UK and EU have begun trade negotiations and its likely that a deal will be formed at some point throughout the year.
This week leaders from around the globe have met in Davos, Switzerland to discuss the global economy. Exchange rates have seemed to be volatile this week when key figures speak. For example earlier in the week Angela Merkel from Germany announced she wants the UK and EU to remain close after Brexit which provided a boost for the pound. US President Donald Trump is set to talk tomorrow and I expect his speech could send financial markets in a spin and investors may move to the safe haven Swiss Franc.
Key economic data releases to look for next week
Next week there are a few key economic data releases to look out for. On Tuesday trade balance, import and export figures are to be released. The figures cover the festive period therefore this release could come out higher than expected which would provide strength for the Swiss Franc.
Wednesday business confidence numbers are released and then the day after retail sales are released. Unfortunately for clients holding onto Swiss Francs both releases are set to show a decline so it may be a poor finish to the week for the Franc. Swiss Franc sellers may want to trade earlier in the week and avoid the risk.
If you are buying or selling CHF this year, I can give you economic information to help you time your transfer and can also offer you a better exchange rate than what you would receive with your bank and other brokerages. This can be anywhere between 1-5%. My direct email is [email protected] Dayle Littlejohn. Alternatively call me 0044 1494 787 478 and ask to be put through to Dayle Littlejohn.
If you are already using a brokerage I recommend emailing me with the exact figures and I will give you our live price so you can make a comparison. This will take you 2 minutes but could save you a considerable amount of money.