Swiss Franc Looks Past Soft 3Q GDP

usdchfTOP

False breakdown, allowed to deleverage, waiting for retest period of prior highs.

Current rate – 1.02988                    S1 0.99628            R1 1.03388

According to estimates released today by the Swiss State Secretariat for Economic Affairs (SECO), Switzerland’s Gross Domestic Product (GDP) stagnated in the third quarter of 2015, and came at 0.0 percent, below the 0.2 percent quarterly growth expected by economists, and below the prior quarter in which the economy grew 0.2 percent. The year-on-year change in GDP came in line with expectations as the report showed the economy grew at 0.8%, below the prior revised reading of 0.9 percent.

Looking into the report, SECO said that positive contributions to GDP came from households and public consumption, and balance of trade in goods. The balance of trade in services had a negative impact. On the production side, healthcare and the insurance sector experienced the strongest growth, while growth was also held back by weak performance in construction and the financial sector.

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