Special FX Report - CHF Continues To Rally Despite Weak Data

November 9th, 2009 by Forex: iStockAnalyst.com Feed

CHF traded sharply higher Monday supported by a surge in equity markets and G-20 pledge to continue stimulus. CHF continues to track risk sentiment shrugging off negative Swiss fundamental data. Swiss inflation continues to fall and the unemployment rate rose to an 11 year high. Swiss October CPI declined for the eight straight month and dropped by 0.8% y/y.The decline in Swiss CPI reflects the impact strong CHF, weak Swiss domestic demand and a drop in petroleum prices. Swiss Q2 GDP contracted by 0.3% and GDP is expected to have continued to contract in Q3. Month to month Swiss CPI rose 0.6% from a flat reading in September.[More...]

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