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Swiss Franc Little Changed Following CPI Data

Swiss Franc Little Changed Following CPI Data

2014-05-08 07:36:00
David Maycotte,
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Talking Points:

  • Mixed Swiss CPI Report in April
  • Swiss Franc Muted Against the US Dollar After Data Crossed the Wires
  • SNB Sees Slow Inflation Rise Through 2015

The latest Swiss CPI figures reported mixed for April as the benchmark year-on-year inflation rate missed estimates, but the month-on-month rate reported in-line with estimates. Year-on-year inflation reported at 0.0 percent, and missing estimates calling for a print of 0.1 percent. The month-on-month inflation reported in-line at 0.1 percent, lower from 0.4 percent reported in March.

The Swiss Franc was little-changed following the release, but ahead of the release had strengthened against the US Dollar in overnight trade. Switzerland's low inflation continues to plague policy makers. Swiss National Bank foresees its baseline inflation rate below 1 percent through, and well below its 2 percent target rate through the next two years.

DailyFX Strategist Jamie Saettele says USDCHF week open is a possible reaction level at 0.8767.

USD/CHF 5-Minute Chart. May 8, 2014

Swiss Franc Little Changed Following CPI Data

Charted created by David Maycotte using Marketscope 2.0.

-- Written by David Maycotte, DailyFX Research Team. Questions, comments or concerns can be sent to instructor@dailyfx.com.

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