by ForexNewsNow Team on November 30th, 2010

Swiss private consumption grows in October

NEW YORK (Forex News Now) – Private consumption grew in Switzerland in October, data showed on Tuesday in a significant realtime forex news event.

The UBS Consumption Indicator rose by 0.02 points to 1.72 in October, bouncing after a sharp decline in September.

The indicator measures the year-on-year growth rate of private consumption in Switzerland, and its October increase can be credited to the improvements in business activity in the retail sector, among other things, according to online FX trading news sites.

The Swissy rose against the dollar in currency market trading Tuesday: USD/CHF traded 0.9994 at around 9:20 A.M., GMT, after opening the day at 1.0001.

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