Switzerland November trade balance CHF 4.74 billion vs CHF 3.75 billion prior

Latest data released by the Swiss Federal Statistical Office - 20 Decmeber 2018

• Prior CHF 3.75 billion; revised to CHF 3.52 billion
• Exports +1.0% m/m
• Prior +6.3%; revised to +5.3%
• Imports -1.5% m/m
• Prior -3.6%; revised to -2.5%
• Swiss watch exports +3.9% y/y
• Prior +7.2%; revised to +7.4%

Exports are continuing to grow steadily and that's some positive news although it is hampered by lower imports once again, which indicates that domestic demand may not be holding up too well. Either way, not a data point that moves markets and certainly one that doesn't impact the swissie materially at this point in time.