Switzerland's Unemployment Rate - Daily Gold Signal

Chapter 13 Switzerland's Unemployment Rate - Daily Gold Signal

EU – Switzerland Unemployment Rate (October)

Summary:

Eyes and Ears on today’s Switzerland unemployment indicator decision. The unemployment index was previously 2.1% and is expected to come at 2.1% as well on November 11th, 2022. A higher-than-expected reading is considered Bearish for the CHF, and a lower-than-expected reading is considered bullish for the CHF.

1. Fundamentals

In today’s article, we will discuss the unemployment rate’s effect on the market. To start with, the unemployment rate represents the number of unemployed persons expressed as a percentage of the labor force. A lower-than-expected reading is considered bullish for the CHF, and a more-than-expected reading is considered bearish for the CHF. It is considered an important indicator, not only for Switzerland’s economy, but it indicates the major trend of the EU economy.

Switzerland’s unemployment rate will be announced on November 11th, 2022. On October 7th, Switzerland’s unemployment rate came out to be 1.9% down from 2.0% and a forecast of 2.0%. The result was bullish for the CHF, and a major drop in the USDCHF pair was monitored constituting of 35 PIPS.

In today’s result, if the unemployment rate came higher than expected it will come bearish for the CHF, and Dollar Index will further increase. If the results came lower than expected, it will go bullish for the CHF, and the dollar index will see a decrease in prices.