Swiss Franc Mixed amid Confusing Data, Market Sentiment

Mar 02,2019 04:07   Source:Earnforex

Looking between the Swiss franc notesThe Swiss franc traded mixed today, rising against some rivals and falling versus others. While initially the currency was weaker due to risk appetite caused by the positive manufacturing report for China, the Swissie rebounded against many peers later. Mixed domestic macroeconomic data was not helping the currency in finding direction.

Switzerland’s Federal Statistical Office reported that retail sales dropped 0.4% in January, seasonally adjusted, instead of rising 0.3% as analysts had predicted. Procure manufacturing Purchasing Managers’ Index advanced to 55.4 in February from 54.3 in the previous month, while experts had predicted a decline to 53.5.

USD/CHF advanced from 0.9981 to 0.9997 as of 20:25 GMT today. CHF/JPY gained from 111.56 to 112.02, trading near the highest level this year.

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