News and economic event analysis disclaimer: This fundamental report is not advice or a recommendation to trade or invest, it is educational and general information only. Don’t blindly buy and sell the markets/products discussed in this article, do your own research and be aware of the risks and rewards.
CHF Main Focus This Week:
- Economic Data Type: SNB Policy Review & Press Conference
- Server Time: 7.30, Thursday
- Quick view: Swiss National Bank (SNB) is expected to continue to maintain unchanged interest rates at -0.75% as before. SNB also maintains a stand for intervention in the marketplace if necessary.
Quick View: Dovish
- SNB maintained its interest rate unchanged at -0.75%, in line with market expectations.
- The next SNB meeting was on June 13, 2019.
- Focused economic data is Inflation and Gross Domestic Product.
- The policy makers say CHF is still high in value. SNB also lowered its inflation forecast for 2019 to 0.3% from 0.5% and to 2020 to 0.6% from 1%.
Main Economics Data of SNB
- Gross Domestic Product (GDP) in Switzerland grew 1.7% in the first quarter of 2019, up from 1.5% in the previous quarter.
- The annual inflation rate of Switzerland declined to 0.6% in May 2019 from 0.7% in the previous month, and was similar to market expectations.
Expected Bias: CHF Bearish
- The Asian session market was well traded after the United States lowered the threat to impose tariffs on Mexico.