Trade Desk Thoughts - Swiss Trade Balance

Swiss Trade Balance Actual 1.43B, Expected 1.0B, Previous 2.29B (revised from 2.37B)

Release Explanation: Measures the country's exports minus its imports; the largest component of a country's balance of payments. An increase or decrease in the Trade Balance will help determine the future economic outlook and growth numbers in a region. It can impact all aspects of an economy as it is the way that region balances its books.

Trade Desk Thoughts: The Swiss trade balance fell in August. The released number of 1.43B is bigger than analyst projections of 1.00B. The number released for July was revised lower, from 2.37B to 2.29B. Despite the global slowdown that should have reduced demand for Swiss-made goods, and for any exporting country in general, the Swiss trade balance reached a record high in the prior months. The main driver behind this surge was strong demand from emerging countries, mainly Asian countries.

Forex Technical Reaction: The swissy (Usd/Chf) was not affected by the release. The pair is trading flat since the U.S. session closed, although earlier it fell 60 pips.

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