Swiss KOF Comes in Below Expectations

Swiss KOF Leading Indicator (APR)
Actual:??? 1.90
Previous:??? 1.90

It seems as though bullish fundamental momentum was unable to drive the Swiss KOF leading indicator higher through the month of April, as the headline figure fell below expectations and matched March levels. The number remains at its highest since October, 2006–confirming that growth remains robust in the continental European economy nonetheless.

Details were scarce at time of writing, but markets clearly took the number as a Swissie negative, sending the USDCHF?15 points higher in the moments to follow. Price extension may be limited ahead of key US data, however, as a falling intraday trendline provides solid resistance at the 1.2100 mark.