Swiss Q-1 industry orders, an indicator of future industrial production, declined -17.6% y/y, much weaker than median forecast of -10.0%.
EUR/CHF is trading firmer on the day, presently at 1.5080 compared a European opening down around 1.5060.
The cross should find decent support in the 1.5000/50 area, despite heightened risk aversion which tends to favour swissy given it’s safe haven status. Fear of renewed SNB intervention at these lower levels will be heightened.
