The Swiss Franc gained against most of its major rivals today after the Producer Price Index demonstrated an unexpected increase and economic sentiment for Switzerland improved.
The PPI rose 0.1% in November instead of falling at the same rate as economists had predicted. The ZEW-CS-Indicator for the economic sentiment in Switzerland rose from 8.9 to 12.9 in December, gaining for the fourth time in a row. The report also said that Economic Expectations for the eurozone were roughly balanced between optimists and pessimists while the sentiment for the United States logged a sharp increase, offsetting the previous slump caused by the victory of Donald Trump in the US presidential elections.
USD/CHF declined from 1.0118 to 1.0084 as of 15:25 GMT today. EUR/CHF was up from 1.0750 to 1.0775 intraday but backed off to trade at 1.0747 later.
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Post tags: EUR/CHF, Franc, PPI, Switzerland, USD/CHF, ZEW Economic Expectations
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