Swiss Q3 GDP qq 0.0% vs +0.3% exp

Swiss Q3 GDP report 2 Dec

• +0.6% prev
• yy +1.3% vs +1.8% exp vs +2.0% prev

Disappointing readings. No doubt the SNB and govt will blame it on the strong franc.

USDCHF currently 1.0098 in a tight range again after another attempt on 1.0200 around option expiry time yesterday (large 1.0200 contracts rolling off) only to retreat to 1.0120 as EURUSD had its own post-expiry reaction and a strong rally to 1.0660 from 1.0590.

EURCHF 1.0787 after finding demand into 1.0750 then 1.0770 again.