The consumer price index in Switzerland declined in April

The consumer price index (CPI) of Switzerland (m/m) for April was 0.2%, against the forecast of 0.3% and the previous value of 0.4%.

This increased the negative for the Swiss franc and reduced its value as a safe asset, which has been conditional in recent times. The decline in this indicator is highly expected and not critical. Earlier, the Swiss CPI showed a significant increase in March and April by 0.4%, but this had a weak effect on the franc.

In the context of an ambiguous start of European stock markets, the franc may be limited in decline, but this is barely visible on the overall growth of the US dollar. The Swiss franc also remains under restrained pressure in cross-rates, which is likely to last.

Fig. USD/CHF. Current price – 1.0020

Hanzenko Anton