Swiss factory output in the fourth quarter fell the most in nearly seven years as industrial production declined 5.9% from a year earlier, which was much greater than the 4.5% drop projected by the economists. The breakdown of the report showed that the new orders plunged 8.8% from last year while orders on hand dropped 3.4% during the period.
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CHFUSD – Swiss factory output in the fourth quarter fell the most in nearly seven years as industrial production declined 5.9% from a year earlier, which was much greater than the 4.5% drop projected by the economists. The breakdown of the report showed that the new orders plunged 8.8% from last year while orders on hand dropped 3.4% during the period. Meanwhile, a separate report from State Secretariat for Economic Affairs showed that the government lowered their growth forecasts as they expect the annual rate of growth to contract 2.2% this year, which has fallen considerably from the initial estimate for a 0.8% drop in GDP. For more news and resources, visit the new Swiss franc Currency Room.
EURUSD – The German ZEW survey unexpectedly improved for the fifth month as the index rose to -3.5 from -5.8 in February amid expectations for a drop to -8.0. Despite the surprising rise in sentiment, the current economic assessment amongst investors weakened further as the index slipped to -89.4 from -86.2, which continues reflect a dour outlook for Europe’s largest economy. Furthermore, investor confidence in the Euro-Zone also increased to -6.5 from -8.7 in the previous month, and the data suggests that investors are becoming less pessimistic towards the economy as a result of the extraordinary efforts taken on by the ECB. However, as the financial markets remain under pressure with trade conditions deteriorating, the outlook for growth and inflation remains bleak. Discuss the topic and your trade ideas in the EUR/USD Forum.
