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Swiss data slightly better than expectations as we near the end of the trading week

Swiss data slightly better than expectations as we near the end of the trading week
February 01
10:55 2018

This morning saw the release of Swiss PMI (Purchasing Managers Index) data in early morning trading, which gave the Swiss Franc a slight lift against most major currencies.

PMI data is a measure of business conditions in the manufacturing sector and any figure above 50 on the measure is seen as a positive. Expectations for the release this morning were for a figure of 64.0, however the actual release came out at 65.3 which is very good news for Swiss business and the Swiss Franc, following on from a period where it hand lost a little ground against some majors.

We have very little left in terms of economic data for Switzerland this week, however if you are in the position that you may need to exchange Swiss Francs in the coming days then it may be prudent to keep a keen eye on rates at 13:30pm GMT tomorrow, where we have a fairly large release from the States.

Non Farm Payroll data is the release in question, which covers the number of people in Non-Agricultural employment within the U.S and this can impact global attitude to risk and can alter the value of safer haven and riskier currencies, such as the Swiss Franc.

The next key release directly for Switzerland will be Swiss foreign currency reserves data due out on Tuesday morning.

Should you need to carry out a currency exchange involving buying or selling Swiss Francs then feel free to get in touch with me directly, I can help you both with the timing of your transaction and with getting the very best rate of exchange when you come to book it out.

If you feel that my assistance will be helpful to you then feel free to email me (Daniel Wright) directly on djw@currencies.co.uk and I will get back to you to discuss your personal situation.

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Daniel Wright

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