Swiss trade balance for the month of January showed that the surplus narrowed to 1.55 billion francs compared with the prior surplus of 2.07 billion francs, which was downwardly revised to 2.01billion francs, while analysts estimated the surplus to widen to 2.50 billion francs.

Exports plunged 3.4% from the revised 6.4%, which was 6.1% initially. Imports rose 3.6%, lower than the prior 7.6% which was revised up to 8.4%.