The Swiss franc was little changed against the dollar and the euro in early trade on Friday as traders remained on the sidelines ahead of the publication of Switzerland's leading economic indicator later in the session.
The KOF leading indicator of business sentiment is set to fall for the third month running in October, confirming views that the Swiss economy will slow next year.
The median forecast of 12 economists was for the KOF, which indicates the likely performance of the Swiss economy in six month's time, to read 2.25 points after 2.32 points in September.
The franc was flat on the day against the dollar at 1.2532. Against the single European currency, the franc was also virtually unchanged at 1.5917 per euro. "With respect to the KOF leading indicator on Friday, it will be interesting to see whether and to what degree this series points towards slowing growth dynamics in the red, hot and booming Swiss industry," UBS said in a note.
Comments
Comments are closed.