Swiss GDP q/q comes in at 1.9% against 0.1% consensus
| Pair | Now | Since publish |
|---|---|---|
| USDCHF | — | — |
Swiss GDP q/q was released at 1.9%, significantly exceeding the consensus estimate of 0.1%. This represents an 1800.0% surprise versus consensus. The previous quarter’s figure was 0.7%.
Following the release, the Swiss Franc strengthened against most major pairs over the initial 15 minutes. USDCHF moved -3.8 pips, EURCHF moved -2.0 pips, and GBPCHF moved -1.8 pips. CHFJPY moved -39 pips. AUDCHF saw a -0.1 pip move, and CADCHF moved -2.0 pips. NZDCHF moved +2.5 pips. Compared to historical behavior, the 15-minute moves for AUDCHF, CADCHF, EURCHF, GBPCHF, NZDCHF, and USDCHF were smaller than their respective median 1-hour moves of 7, 4, 5, 10, 4, and 7 pips. The CHFJPY move of -39 pips was larger than its median 1-hour move of 11 pips and exceeded its top-quarter release move of 24+ pips.