Trade Desk Thoughts - Swiss Retail Sales

Swiss Retail Sales Actual 6.2%, Expected 2.3%, Previous 0.7%

Release Explanation: Measures the value of Sales at the Retail level. It is a very important set of figures that make up a large percentage of consumer spending numbers. Retail sales are the measure of the total sales of goods and services by retail stores.

Trade Desk Thoughts: Swiss retail sales had a strong increased in July. The release number of 6.2% is much higher than market expectations of 2.3%. Over the last few months, retail sales had risen strongly, due the European Football Championship and it seems the trend might continue.

Forex Technical Reaction: The two releases from Switzerland went unnoticed in the currency market. Since the Asian session begun, the swissy (Usd/Chf) loss 70 pips and is now trading under TheLFB S3 (1.1150). Against the euro, the Swiss Franc strengthened 70 pips

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