ZURICH: The Swiss franc fell against the euro on Tuesday ahead of a slew of economic data this week expected to confirm signs of a nascent recovery in the single-currency bloc.
Investors are eyeing data for clues that the euro zone may have managed to pull itself out of recession, led by Germany where a rebound in industrial production is believed to have fuelled growth in the wider economy.
In focus on Tuesday, is Germany's ZEW economic sentiment index for August, with analysts on average forecasting a rise to 40.0, a five month high. Meanwhile the euro zone's industrial output data for June is also expected to have risen.
"The data out of the eurozone has been much better over the last few months, which has led many to believe the area actually climbed out of recession in the second quarter, much earlier than had previously been expected," said Alpari analyst Craig Erlam.
US retail sales figures due at 1230 GMT will also be closely watched, as investors parse data for indications as to whether the Federal Reserve will start unwinding its monthly stimulus programme sooner rather than later.
In Switzerland, the ZEW investor sentiment indicator and producer and import price data are both due on Wednesday.
The franc slipped 0.1 percent against the dollar compared to the New York close to trade at 0.9262 by 0641 GMT.
The franc fell 0.2 percent against the euro to 1.2331.
Comments
Comments are closed for this article.