Release Explanation: Measures the country’s exports minus its imports; the largest component of a country’s balance of payments. An increase or decrease in the Trade Balance will help determine the future economic outlook and growth numbers in a region. It can influence all aspects of an economy as it is the way that region balances its books.
Trade Desk Thoughts: The Swiss trade balance surplus surged in January. Compared with the estimated number, the trade balance was released much higher, 2.03B versus 0.62B. In December, the report was revised slightly lower, to 0.00B.
Even though the monthly trade balance still recorded a surplus, the outlook lies on the downside as the foreign demand slows. The emerging economies are still responsible for a large bulk of orders.
Forex Technical Reaction: The swissy (Usd/Chf) traded flat in the Asian session, unable to break anywhere. The pair had no reaction to the news report.