EUR/CHF settles below 2-week high, posts weekly loss

The EUR/CHF currency pair settled below recent high of 0.9420, its strongest level since April 28th, after the release of the latest GDP growth data out of both the Euro Area and Switzerland.

The Euro Area’s economy registered a 0.3% quarterly growth in the first quarter of 2025, according to Eurostat’s second estimate released on Thursday. The revised figure fell short of the earlier estimate of 0.4%.

However, in annual terms, the bloc’s GDP grew 1.2% in Q1, in line with both the preliminary report and market expectations.

Employment levels within the bloc also inched higher, with the Eurozone Employment Change posting a 0.3% quarterly rise and a 0.8% YoY increase in Q1.

At the same time, Switzerland’s economy grew 0.7% quarter-on-quarter in Q1 of 2025, a preliminary estimate showed, following a revised up 0.5% growth in Q4 of 2024.

It has been the strongest rate of economic expansion since the first quarter of 2023, mostly underpinned by robust activity in the services sector.

The EUR/CHF currency pair settled 0.03% higher at 0.9344 on Friday.

The minor Forex pair lost 0.05% for the week.