Swiss Expectations Dim On Global Demand Outlook

Published July 16th, 2009 - 03:53 GMT

Fundamental Headlines

• OECD Urges Russia on Deeper Reforms – Wall Street Journal
• China's GDP Growth Quickens on Stimulus– Wall Street Journal
• European shares boosted by US bank – Financial Times
• Goldman Earnings Trump Options Bears as S&P 500 Rallies Most Since March – Bloomberg
• European Stocks Rise, U.S. Index Futures Pare Drop on JPMorgan; Yen Gains – Bloomberg

EURUSD – French consumer prices rose 0.1% in June versus expectations of 0.3% as falling crude prices continue to filter through economy. Inflation declined 0.5% on an annualized basis which exceeded forecasts of -0.5% signaling that deflation risks still remain for the Euro-Zone which saw prices drop 0.1% for the same period. Meanwhile, the Italian trade balance posted a surplus of 1187.0 million erasing a deficit of -277.0 million as a slight gain in exports was magnified by a drop in imports. Discuss the topic and your trade ideas in the  EUR/USD Forum.

USDCHF – After its first positive reading since September 2006, the Swiss Zew Survey was flat for July as optimism has waned. The concerns that a global recovery will be protracted has dimmed the outlook for the demand of Swiss goods. Additionally, the strength of the Swiss franc despite government intervention continues to be a weighing factor on exports. The SNB may look to continue its efforts to depreciate the local currency in an attempt to spur demand. For more news and resources, visit the new Swiss franc Currency Room.


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