Trade Desk Thoughts - Swiss Unemployment Rate

Swiss Unemployment Rate Actual 2.6%, 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 September, Unemployment in Switzerland rose to 2.6%, slightly higher than market expectations. Previously, the unemployment rate remained stable at 2.5% for eight consecutive months. 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 gained 30 pips after the news release. During the Asia session, the pair traded in a 90-pip range around the neutral pivot point

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