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Swiss Trade Balance surplus rose more than expected

Thursday, Feb 19 2015

Swiss Trade Balance rose to a seasonally adjusted CHF 3.433 billion, from CHF 1.514 billion CHF in the preceding month whose figure was revised down from 1.515 billion. Analysts have been forecasting fall to CHF 1.230 billion. This indicates continuous stability in Swiss Trade Balance figures, which has been showing surplus of above CHF 1 billion for over a year.

Exports rose a seasonally adjusted 2.9% month-on-month in January, reversing a 2.9% fall in December. Year-on-year, exports fell by a real 6.2%, after a 2.3% in the previous month. Imports dropped 2.2% from December, when they grew 0.7%. Annually, imports decreased 9.4% in real terms after a 1% climb in the previous month.

 

USD/CHF pair remained stable after the data, currently being traded around 0.9420 area. Pair is likely to find support at 0.94 handle, and resistance above 0.9450 level, at least during the morning part of the session.

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