08:30 AM GMT, Switzerland - Retail Sales for October:
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Actual 2.7%
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Forecast: 1.2%
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Previously: 1.8%
Real retail sales in Switzerland rose more than expected and the previous figure was revised upward from 1.5% to 1.8%. This steady rebound in sales following the late-summer to early-autumn slump helps ease concerns about a tariff-driven economic downturn.
With Swiss interest rates already at 0%, continued growth in consumer spending should help prevent inflation from slipping into negative territory, reducing worries that the SNB might resort to unconventional monetary policy tools. The franc strengthened noticeably against both the euro and the dollar, breaking its recent losing streak, supported largely by an overall increase in risk appetite.
Source: xStation5
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