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of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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Free AccessSwissy Reverses Early Gains As Headline CPI Matches Market & SNB Forecasts
EUR/CHF and USD/CHF are now a little higher on the day after headline Swiss CPI data matches expectations, holding steady in May. Meanwhile, the core Y/Y reading was also steady, despite survey expectations for 0.1ppt uptick.
- The CHF now trades in the middle of the G10 pack after outperforming peers ahead of the data, as participants were wary of the release following recent SNB rhetoric.
- A reminder that SNB President Jordan had flagged small upside risks to the SNB’s +1.4% Q2 CPI forecast. That didn’t emerge in today’s reading, explaining the move in CHF, although June’s data is still to come further down the road.
- Yesterday’s low in EUR/CHF held during the early CHF rally.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.