News Column

Swiss Franc Slightly Falls Trade Data

July 22, 2014



BRUSSELS (Alliance News) - The Swiss franc fell slightly against most major currencies ahead of the European session on Tuesday after the release of Swiss trade balance showing a lower than expected trade surplus in June.

Data from the Swiss Federal Customs Administration showed Switzerland's trade surplus rose came in less than expected in June as imports rose faster than exports.

The trade surplus was at CHF 1.38 billion in June, less than the CHF 2.78 billion expected by economists.

Imports grew 10.5% month-over-month to CHF 15.49 billion in June.

Exports also rose, though at a slower rate than imports, by 1.2% in June to CHF 16.87 billion. Watch exports grew 1.4% year-over-year in June.

On a year-over-year basis, trade surplus decreased CHF 1.4 billion in June. Exports rose 2.2% and imports grew 7.8%.

Imports grew 10.5% month-over-month to CHF 15.49 billion in June.

The Swiss franc edged down to 0.8986 against the US dollar, 1.5347 against the pound and 1.2149 against the euro.

If the Swiss franc extends its downtrend, it is likely to find support around 0.90 against the greenback, 1.54 against the pound and 1.216 against the euro.



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Source: Alliance News


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