It was a poor day for the Swiss yesterday as their Economic Barometer fell below expectation in the morning. The Swiss franc suffered against both sterling and the US dollar, falling 0.2% and 0.4% respectively. Today’s release of their retail sales could signal a change in fortune.
The Chinese manufacturing sector continued to struggle yesterday, with the Manufacturing Purchase Managers’ Index (PMI) showing the sector failing to grow for the second consecutive month.
There is a similar situation in Japan where industrial output fell by 0.5% against an expectation of an increase of 1%.
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