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Switzerland’s Consumer Prices Slows More than Forecasts in June

Switzerland’s Consumer Prices Slows More than Forecasts in June

2010-07-06 11:38:00
Michael Wright, Currency Analyst
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fxheadlines07.06

Fundamental Headlines


• Crises Take Toll on Euro-Zone Leaders – Wall Street Journal
• Australia Holds Rates Steady – Wall Street Journal
• China Eyes Shake – Up of Bank Holdings - Financial Times
• Euro Worst to Come for Most-Accurate Analysts as TD Securities Sees Parity - Bloomberg
• Losses Buried in European Bank Balance Sheets Threaten EU Stress Test Plan- Bloomberg



USD/CHF: Consumer prices in Switzerland for the month of June slid 0.4 percent after falling 0.1 percent in May amid expectations of -0.1 percent. At the same time, annualized prices increased 0.5 percent. Looking at the breakdown of the report, petroleum products jumped 12.0 percent from a year ago, while durable goods scaled back 2.1 percent, according to the Swiss statistics office in Neuchatel. Looking ahead, inflation in the region will likely remain below SNB’s target of 2.0 percent as the euro zone may slip back into a mild recession by the end of this year, early next year as governments scale back stimulus measures to fight their ballooning budget deficits. In turn, a downturn in the 16-member euro area will drag the recovery in the Swiss region because the euro zone is Switzerland’s key trading partner. To discuss this or other topics, please visit the Swiss franc currency room.


Related Articles:

Weekly Spotlight: Europe at Risk for a “Double-Dip” Recession by the End of the Year
 


Written by Michael Wright, Currency Analyst
To Receive Future Articles by Email, please contact me at instructor@dailyfx.com
Michael Wright is the author of FX Headlines, Fundamentals vs. Technical’s, Weekly Spotlight, and
Forex Trading Weekly Forecast

 

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