Unemployment data for the Swiss economy will be released at 07:45 GMTas forecasts are in favor of a decline to 3.4% in March from the prior 3.6%, while the seasonally adjusted reading will inch down to 3.3% from the previous 3.4%, according to median estimates. The improvement in unemployment data may take the pair lower as it will provide strong clues that the Swiss economy is on the right track.
On the other hand, the USeconomy is also showing progress, where yesterday initial jobless claims fell to 382,000 last week from the revised 392,000 a week before. An intervention by the Fed may be expected after the end of the $600 billion bond purchase program in June, as Brenanke referred to a possible interest rate rise to calm down inflation, while the SNBmay intervene to depreciate the franc as the franc’s appreciation is having negative impact on Swiss exports. Thus, the outlook for the pair in the coming period is to the upside.
Originally posted here
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