Forex News – Swiss Franc weakens after April CPI remains flat
May 8, 2013 9:48 am
Switzerland consumer price inflation (CPI) remained unchanged last month, confounding expectations for a slight increase, causing the Swiss Franc to fall against most counterparts.
According to a report released by the Swiss Federal Statistics Office, CPI in April gave a reading of 0.0 percent, thus being flat for the month, compared to March’s 0.32 percent increase. Forecasts were for inflation to tick up marginally by 0.1 percent on a month to month basis.
On an annualized calculation, consumer prices in Switzerland declined at a pace of 0.6 percent in April, compared to expectations for a 0.5 percent drop decline, after falling at a rate of 0.6 percent in March.
The Swiss franc weakened after the CPI data which were released at 09:15 am Swiss time, edging down against other major currencies.
USDCHF rose to 0.9404 for about a half hour from a pre-data low of 0.9376. EURCHF climbed to 1.2316 from 1.2298.
Switzerland consumer price inflation (CPI) remained unchanged last month, confounding expectations for a slight increase, causing the Swiss Franc to fall against most counterparts.
According to a report released by the Swiss Federal Statistics Office, CPI in April gave a reading of 0.0 percent, thus being flat for the month, compared to March’s 0.32 percent increase. Forecasts were for inflation to tick up marginally by 0.1 percent on a month to month basis.
On an annualized calculation, consumer prices in Switzerland declined at a pace of 0.6 percent in April, compared to expectations for a 0.5 percent drop decline, after falling at a rate of 0.6 percent in March.
The Swiss franc weakened after the CPI data which were released at 09:15 am Swiss time, edging down against other major currencies.
USDCHF rose to 0.9404 for about a half hour from a pre-data low of 0.9376. EURCHF climbed to 1.2316 from 1.2298.
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