Forex Pros – Manufacturing activity in Switzerland rose unexpectedly in May, industry data showed on Wednesday.
In a report, the Swiss SVME purchasing managers' association and Credit Suisse said that its purchasing managers’ index rose to a seasonally adjusted 59.2 in May, up from 58.4 in April.
Analysts had expected the index to decline to 57.6 in May.
On the index, a reading above 50.0 indicates expansion, below indicates contraction.
Following the release of the data, the Swiss franc was up against the U.S. dollar, with USD/CHF shedding 0.47% to hit 0.8499.
ForexPros.com - Forex Pros offers a diverse set of professional tools for Forex, Futures and CFDs. These include real-time data streams, technical and fundamental analysis by in-house experts, and a widely used economic calendar and Forex News.
In a report, the Swiss SVME purchasing managers' association and Credit Suisse said that its purchasing managers’ index rose to a seasonally adjusted 59.2 in May, up from 58.4 in April.
Analysts had expected the index to decline to 57.6 in May.
On the index, a reading above 50.0 indicates expansion, below indicates contraction.
Following the release of the data, the Swiss franc was up against the U.S. dollar, with USD/CHF shedding 0.47% to hit 0.8499.
ForexPros.com - Forex Pros offers a diverse set of professional tools for Forex, Futures and CFDs. These include real-time data streams, technical and fundamental analysis by in-house experts, and a widely used economic calendar and Forex News.
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