The trade balance report from Switzerland this morning revealed a sudden jump in its surplus, signaling far more exports than imports for the Alpine nation. The forecasted 1.68B surplus was trounced by an actual 3.31B gap between imports and exports.
Recent downturns in Swiss economic data may be partially behind today’s trade surplus reading. It has widely been argued that Switzerland’s currency, the franc (CHF), is approaching, or breaching, record highs against several currency counterparts and this may in turn be gouging exports. However, the downtick in value recently may have boosted exporting capabilities to previous levels and boosted the nation’s trade surplus.
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