Trade Desk Thoughts - Swiss KOF Economic Barometer

Swiss KOF Economic Barometer Actual 0.62, Expected 0.56, Previous 0.73 (Revised from 0.68)

Release Explanation: The overall economic health barometer is called the Leading Index. It measures 12 components of the economy including; consumer sentiment, new ind. orders, housing permits, equity prices, average hourly rate, interest rate spreads.

Trade Desk Thoughts: The Swiss Leading Indicator was released lower compared with August, although slightly better than market expectations of 0.56. Even though the release indicates the Swiss GDP decline may continue in the following quarters, the sub-indexes tracking the construction and banking activity show a bottom may be in place.

Forex Technical Reaction: The release went unnoticed in the currency market. The swissy is trading flat, after in the Asian session the pair fell 60 pips

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