Trade Desk Thoughts - Swiss Unemployment Rate

Swiss Unemployment Rate Actual 2.5%, Expected 2.5%, Previous 2.5%

Release Explanation: Measures the percentage of unemployed in the labor market. Economic strength builds from the willingness/confidence of firms to hire, without a strong labor market growth is hard to achieve.

Trade Desk Thoughts: In August, Unemployment in Switzerland remained constant at 2.5% in-line with market expectations. This is the seventh consecutive month in which the unemployment rate remains stable at 2.5%. The released number, shows the Swiss labor market continues to be resilient in the face of the credit crunch, however, a low unemployment rate can generate some wage inflation

Forex Technical Reaction: The swissy had a weak reaction to the release, moving less than 10 pips. During the Asia session, the pair moved around the neutral pivot point, after it fell 50 pips.

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