Swiss Franc Firm on Risk Aversion & Economic Data

The Swiss franc was rather firm today. Risk aversion and decent domestic macroeconomic data helped the currency to carve out gains versus its major rivals.

According to the report from the Federal Statistics Office, Switzerland’s trade balance widened to CHF 2.80 billion in April from the revised CHF 2.25 billion in March. The actual reading was far better than the forecast value of CHF 2.23 billion.

As for the future reports, the KOF Economic Barometer, Credit Suisse Economic Expectations, and the speech of Swiss National Bank Chairman Thomas Jordan are scheduled for tomorrow.

USD/CHF opened at 0.9928, rallied to 0.9983 intraday, but retreated to 0.9917 by 17:38 GMT today. EUR/CHF slumped from 1.1548 to 1.1443, trading near the lowest level since October 4.

If you have any questions, comments or opinions regarding the Swiss Franc,
feel free to post them using the commentary form below.

Leave a Reply

Your email address will not be published. Required fields are marked *