Switzerland Unemployment Rate

Chapter 27 Switzerland Unemployment Rate

EU – Switzerland Unemployment Rate (November) Came Lower than Expected at 2.0% rather than 2.1%

Summary:

Eyes and Ears were on today’s Switzerland unemployment indicator decision. The unemployment index was previously 2.1% and was expected to come at 2.1% as well on December 7th, 2022, but the actual result came to be 2.0%. A higher-than-expected reading is considered Bearish for the CHF, and a lower-than-expected reading is considered bullish for the CHF.

Recommended Entry Price:

EURUSD:

Entry Price: 1.04800

Target Price: 1.05800

SL Price: 1.04250

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 was announced earlier on December 7th, 2022, with a result of 2.0% instead of a forecasted result of 2.1%. The result was lower than expected, thus it is bullish for the EUR. EURUSD prices increased sharply after this indicator by 50 PIPS from 1.0456 to 1.0505.

Switzerland Unemployment Rate-Pic no.1