The Swiss franc declined against the euro today as consumption indicators fell slightly last month. The report was not completely negative though as it said that the Christmas season had a good start for the retail sector. At the same time, the currency gained versus the dollar.
The UBS consumption indicator fell a bit from 1.32 to 1.29 points in November. The report said:
Fewer new car registrations are weighing on consumption, but on the positive side, Christmas retail business has apparently made a good start.
This week’s calendar is poor on economic indicators, and today’s report was the only one from Switzerland scheduled for this week.
USD/CHF fell from 0.9873 to 0.9861 as of 12:42 GMT today. Meanwhile, EUR/CHF rose from 1.2025 to 1.2029.
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