Switzerland Nov unemployment rate 9 Dec

  • 3.3% prev
  • unadj 3.3% as exp vs 3.2% prev

Nothing to see here to disturb the thoughts of the SNB as they keep their eyes firmly on EURCHF.

Yesterday I posted on what I thought was a pre-emptive strike by them prior to the ECB announcement and so it transpired with a spike to 1.0882 capped in the immediate aftermath at 1.0900 before tumbling to 1.0776. Where might it have been without that initial helping hand?

Currently 1.0785 expect 1.0750-1.0800 to contain as the ECB post-mortem continues. USDCHF 1.0160 still unable to breach 1.0180-1.0200