While the Swiss economy lacks fundamentals, the US will release trade balance for March at 12:30 GMT followed by monthly budget statement at 18:00 GMT.
Yesterday, the dollar managed to pair its drop against the franc to continue its rebound that started last week after the sell-off in metals and shares had sparked demand on the greenback, where the Swiss franc waned after the release of inflation data which showed that annual CPI for the year ending April retreated to 0.3% from the prior 0.1% which raised speculations the SNB will not raise interest rate any soon.
The Franc’s appreciation over the past year and this year has put downside pressure on inflation. Yet, eyes are on development in the Greek dilemma as the European debt woes were among the factors that helped the swissy to advance.
The US inflation data released yesterday showed that annual import price index for April rose to 11.1% from the revised 9.9%, yet it had a slight impact on the pair’s movements.
Originally posted here
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