Swiss Franc Gains Against Most Majors After Trade Data

Swiss Franc Gains Against Most Majors After Trade Data




The Swiss franc rose against most major currencies on Tuesday after the release of Swiss trade data and UBS consumption indicator for March.
Swiss trade surplus recorded a surprise drop in March, the latest figures from the Federal Customs Administration showed.
The trade surplus totaled CHF 1.69 billion in March, down from a revised CHF 2.61 billion surplus in February. Economists were looking for an increase to CHF 3 billion.
Meanwhile, Swiss consumption indicator increased significantly in March led by improved business in retail trade and record-high new car registrations, survey data released by investment bank UBS revealed today.
The UBS consumption indicator for the Swiss economy rose to 1.22.
Against the dollar and the pound, the franc edged up to 0.9125 and 1.4714 and the next upside target level for the franc is seen at 0.91 and 1.465, respectively.
Against the yen, the franc is trading at 88.77, compared to an early low of 88.51.


More FOREX-news on pages InstaForex.Com