The USD/CHF is trading at around 0.9984 down 0.19% on Monday. In Asia and Europe, the Swissy coiled around the parity level. A couple of hours before the American forex session, bears took the lead and drove the pair from the parity level down 40 pips to 0.9960 level. The pair is currently driven by investors profit-taking on the long USD multi-week trade and to a lesser extent by a mild downtick in European equities backed by concerns by the political situation in Italy, whereas the Swiss franc is seen as a safe-haven currency. The main drivers this week include the US retail sales report for April on Tuesday and partially by the set of the Eurozone and German GDP data that can impact the Swiss franc in tandem with the EUR. Looking further, Wednesday will see the inflation (CPI) data from both the Eurozone and Germany. It is worth noting that high volatility is to be expected on GDP and inflation data as those are tier-one indicators closely watched by central banks to adjust interest rates. (source: fxstreet)