Forex News: Swiss GDP Showed Strength, USDCHF Unchanged
THE TAKEAWAY: Swiss GDP grows in the third quarter > SNB President Jordan called for added stimulus measures, however today’s strong print may sideline for time being > USDCHF unchanged
The Swiss franc was little changed versus the dollar as Switzerland gross domestic product came across the wires for the third quarter showing an improvement in economic growth of 0.6 percent, quarter-over-quarter, while the annual print also showed signs of growth at 1.4 percent suggesting Eurozone demand for Swiss exports have been on the rise.
Recently Swiss National Bank President Thomas Jordan called for unlimited stimulus measures in an attempt to debase the franc effectively providing a boost to export demand. However, the stronger than expected growth figures today may sideline such measures for the time being.
USD/CHF, 1 Minute Chart
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