Dmitri Lysenko
The Swiss Federal Statistics Office reports about higher retail sales in August. The retail turnover increased by 0.4% (m/m) after a 0.6% decline a month before.
There is a year-over-year revival in retail sales as well. The turnover increased by 5.9% in August (y/y), which is much higher than the revised July readings (2.9%). The core index (excluding car sales0 increased by 5.6%.
Forex.
According to , the Swiss Franc keeps weakening against the US Dollar. The experts report that USDCHF is forming an upswing represented by wave 4 of H16. The forming of sub-wave a(C )/C is completed.
The current bullish move will be completed as soon as the price overcomes the bottom of the MF sloping channel and consolidates below 0.9334 (as shown below).
Dmitri Lysenko
