Swiss trade balance surplus drops more than forecast

NEW YORK (Forex News Now) – Switzerland’s trade balance surplus dropped a little more than forecast this month, data showed on Tuesday in one of the day’s major realtime forex news events.

In a report likely to impact swissy currency market trading, the Federal Statistical Office said that the difference in value between imports and exports dropped to 1.93 billion, down from a mark of 2.05 billion the previous month.

Analysts had expected this month’s figure to come in at around 1.98 billion, at least two major online FX trading news outlets reported.

Export demand and currency demand are directly linked, which makes the data important for FX traders, because foreigners must buy the domestic currency to pay for the nation’s exports.