The Swiss Federal Statistical Office reports a 1.1% decrease in the Producer and Import Price Index year-on-year in December, aligning with expectations. There are no economic data releases from Switzerland this week, prompting investors to await retail sales figures and sentiment surveys next week.
The Swiss Franc (CHF) is under pressure after Thomas Jordan, the Chairman of the Swiss National Bank (SNB), warns about the strengthening trend of the Swiss Franc. This caution arises as the SNB aims for the currency to appreciate further, as discussed at the World Economic Forum in Davos.
Nevertheless, comments from Mary Daly, the President of the San Francisco Fed, indicate that the central bank still seeks to reduce interest rates to return to the 2.0% target. Additionally, Raphael Bostic, the President of the Atlanta Fed, emphasizes the timing of interest rate adjustments, dependent on future interest rate trends.