Release Explanation: Measures the value of Sales at the Retail level. It is a very important set of figures that make up a large percentage of consumer spending numbers. Retail sales are the measure of the total sales of goods and services by retail stores.
Trade Desk Thoughts: Swiss retail sales are up from one year earlier in October. The release number of 2.9% is higher than market expectations of 1.9%. Over the last few months, retail sales had risen strongly and it seems this trend will continue, despite the fatigue seen in the economy.
Forex Technical Reaction: Since the Asian session started, the swissy rose 20 pips, even though earlier, it was trading 100 pips lower.