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The Swiss market appears to be one of the strongest and most stable across the globe for now. The SVME PMI and GDP releases will prove to be of importance to the September 13th meeting of the SNB. While swiss economic data has proved to only have a short term effect on the national currency, the reports will be well worth looking into. SVME PMI is expected to fall slightly to 61.5, still a good figure. The Q2 GDP is expected to back the assumption that the Swiss economy is healthy and continues to thrive. A 2.4 percent annualized pace is expected, which will show an increase over the 2.2 percent from the first quarter.
The UK may not be fairing as well as Switzerland, however. The Nationwide survey of consumer confidence is expected to fall for the month of August. The reason for concern may be the changing financial markets and the risk of tighter reigns on monetary policy. The major factor will be the Bank of England’s decision. Overall, inflation remains below the 2 percent expectation. Even risk is expected to be mild in the UK over the coming few days. It would be beneficial to pay close attention to the upcoming GDP releases.
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Posted on Dec-14-2007
