In the US, CB Consumer Confidence increased more than predicted to 64.5 in December from 55.2 in November indicating an elevated confidence among households. A further improvement to 68.2 is expected now.

The dollar continued to retreat, despite stronger US economic figures. The franc continues to roll, and the big question now is: will the dollar drop below the 0.90 level before a correction occurs?

The Swiss franc gained over 200 pips against the dollar last week, closing at the 0.9330 level. The upcoming week is a quiet one, with only one release. Here is an outlook for the Swiss events, and an updated technical analysis for USD/CHF.

The Euro had an outstanding week against the major currencies, and the Swiss franc took full advantage. However, the euro is vulnerable with the deep financial crisis in the eurozone, and we could see the dollar quickly rebound against the Euro and the franc.

In the US, The Conference Board (CB) Consumer Confidence, Financial confidence is a leading indicator of consumer spending Survey to value the consumer spending and rate the total financial situation, due to rise from 56.0 points  on November up to 58.5 points now.

The SNB did not have any gifts for the markets, forecasting weak economic growth of 0.5% for 2012 and  expressing concerns about deflation if the Swiss franc does not depreciate. This may well force the central bank to raise the EUR/CHF of 1.20 in order to push the CHF lower.

In the US, The Conference Board (CB) Consumer Confidence, monthly survey to rate the present and upcoming financial conditions with labor availability etc., rise is expected from 39.8 on October up to 43.8 this time.

In the US, The Conference Board (CB) Consumer Confidence, Monthly Survey (around 5,000 homes) to rate the present and upcoming financial conditions and overall economic conditions, rise up to 46.2 points is expected from 45.4 points on September.

The talk about a higher floor for EUR/CHF is still around, but there’s no action. Without action, the franc remains strong, especially against the US dollar. Will it change this week?

In the US, The Conference Board (CB) Consumer Confidence, monthly survey to rate the level of present and forthcoming monetary conditions, small rise from 44.5 points on August to 46.4 points is expected.

The lack of massive action from Ben Bernanke triggered risk averse trading and since the massive SNB intervention, the franc is no longer safe. The franc was also squeezed by rumors of a second SNB move on EUR/CHF.