Whilst the eurozone still attempt to overcome the issues on the bond auctions & tender offers, we like to turn our attention to the CHF. Based on a greener economic condition for the Swiss, the bankers favorably indicated a 25 basis point rate hike appropriate for asset repurchases. The correlated increase in house prices however was believed to be unsustainable. Furthermore, the said price increase reinforces for a rate hike. Consequently expectations of appreciating cross & negative on the Euro.

EURO – ranging – support 1.2150 / 1.2300

The 3rd round of voting in the German elections favored Mr. Christian Wulff, a contender of Chancellor Merkel. This however does not guarantee any stability to the Euro in anyway, as the slightest of noise can shake the currency. Moody’s downgrade assault to the euro denominated assets has now the Spaniards worrying about a Aaa rating. S&P already reduce them to AA. Not a very time to have a downgrade prior to the start of auctions later today.

USD – trending – support 1.0468 / 1.0678

With yet a day before the release of the almighty nonfarm alongside with the ISM manufacturing index and home sales, traders still capitalize on the previous data where positive figures from private payrolls As far as the currency is concerned, the US dollar closed stronger whilst the equities markets closed -1%. oil and gold contracts flirting around $74.89 and $1239.27.

GBP – trending – support 1.4936 / 1.5127

Contradicting to the BoE & associated committees to remain friendly towards the end of this year, noise on rate hike may spur should recovery become evident.

YEN – trending – support 88.00 / 88.75

Still risk aversion is a sticky situation for the appreciation of the Yen. Even the almost relatively flat indexes & consensus estimates might not still be able to save this aversion tone. These of course, yield yet more pain to the manufacturing & commodity markets, even at the expectations of a positive Aussie retail figures.

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