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Swiss Trade Balance Actual 2.56B, Expected 0.11B, Previous 0.15B (Revised from 0.12B)
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,” TheLFB-Forex.com Trade Team said.
TheLFB-Forex.com Trade Desk Thoughts: The Swiss trade balance surplus rose unexpectedly in April. Compared with the estimated number, the trade balance was released much higher, 2.56B versus 0.11B. In March, the report was revised slightly higher, to 0.15B.
“Even though the monthly trade balance still recorded a surplus, the outlook lies on the downside as the foreign demand slows. In April, exports rose 11% from March, while imports declined by 5% over the same period. Currently, the Swiss trade balance is in the worst shape over the last few decades,” TheLFB-Forex.com Trade Team notes.
Forex Technical Reaction: The swissy (Usd/Chf) traded flat in the early part of the overnight session, testing the high reached on Wednesday. The pair had no reaction to the news report.
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