CHF GDP y/y comes in at 2.8% against 0.6% consensus
| Pair | Now | Since publish |
|---|---|---|
| USDCHF | — | — |
Switzerland’s annual Gross Domestic Product (GDP) growth rate was reported at 2.8% today, significantly surpassing the market consensus of 0.6%. This figure also marked a substantial increase from the previous reading of 0.5%. The actual print represented a 366.7% surprise compared to analyst expectations.
Following the release, the Swiss Franc generally strengthened against most major currencies in the initial 15 minutes. USDCHF moved down 3.8 pips, while EURCHF declined by 2.0 pips. GBPCHF was down 1.8 pips, and CADCHF fell 2.0 pips. AUDCHF saw a 0.1 pip decline, and CHFJPY moved down 39 pips. NZDCHF, however, moved up 2.5 pips. Compared to typical 1-hour moves for similar releases, the 15-minute reactions for AUDCHF, CADCHF, EURCHF, GBPCHF, NZDCHF, and USDCHF were relatively small. CHFJPY’s 39 pip move was larger than its median 1-hour move of 11 pips and exceeded its top-quarter release threshold of 24+ pips.