Trade Desk Thoughts - Swiss Trade Balance

Actual 2.37B, Expected 2.00B, Previous 2.37B (revised lower from 2.41B)

Release Explanation: This report measures the difference between the total value of exports and the total value of imports. A positive figure indicates a trade surplus while a negative value represents a trade deficit. Because Japan's economy is highly export-led, trade data can give critical insight into developments in Japan's economy and changes into foreign exchange rates.

Trade Desk Thoughts: The Swiss trade surplus has remained the same in July. Last month the number came in at 2.41B, recording a record surplus. However, the previous release was revised to 2.37B. The release shows exports to emerging countries remains strong, while exports to developed countries dropped.

Forex Technical Reaction: The Swissy traded flat during the release. Since the Asian session started, the pair decline 55 pips and is now trading between the neutral pivot point and TheLFB S1.

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