Switzerland published its gross domestic product (GDP) this morning and put on display a sluggish figure for growth. Expectations were for a 0.6% uptick in GDP, but this morning’s 0.3% figure had the harsh effect of pushing down on the Swiss franc (CHF) and weighing on the country’s finances.
The Swissie bounced off its recent high against the USD and is beginning to flatten out, and against the EUR and GBP the currency remains weaker. Traders may look to continue shorting the CHF this week if other data doesn’t come relieve some of this new pressure.
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Greg Holden is the Chief Market Analyst at ForexYard. Greg uses his detailed knowledge of fundamental and technical analysis to provide some of the leading market forecasts in the forex world today. A guest lecturer at forex symposiums and Chief Editor of ForexYard's analysis center, Greg brings highly detailed and easy-to-use market analyses to his clientele. He has been published on ForexYard's Trading Blog and affiliate websites. Greg holds degrees in Political Science and Economics from Missouri State University, as well as a Masters degree in Middle Eastern History.
