Swiss GDP Remains Unchanged In Q3

Swiss GDP Actual 0.0%, Expected 0.0%, Previous 0.3% (Revised from 0.4%)

Release Explanation: Measures the monetary value of all goods and services produced within a Country's borders in a specific time period. GDP is calculated on an annual basis, is the broadest measure of activity, and the primary gauge of each economy's overall health. It includes all Company and Personal consumption, government outlays, investments, and exports less imports, that occur within a defined territory.

Trade Desk Thoughts: The Swiss economy remained steady in the third quarter, posting a 0.0% growth rate. Compared with the same quarter of the last year, the Swiss economy grew by 1.6%. In 2008, the second quarter growth projection, initially released at 0.4% was revised lower, to 0.3%. The third quarter growth was mainly driven by the positive trade balance and household expenditures, but investments had a negative contribution. The last time the Swiss economy posted a negative quarter was back in the third quarter of 2004, however, it was just for one quarter.

Forex Technical Reaction: The Swissy had a weak reaction to the GDP release. The pair continues to trade within the same 30 pips range, developed in the early Asian session.

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