EUR/CHF +0.5% after weak Swiss consumer Price index data (CPI). Economists from Société Générale analyze the pair's outlook.
A weak CPI opens the door to a March SNB cut
The good news for EUR/CHF is that Swiss inflation slowed to 1.3% and core fell to just 1.2%, the lowest since January 2022. The dovish pivot in March looked dead after President Jordan's comments at Davos last month . Weak CPI brings the possibility of a rate cut next month from 1.75%.
It's been a tricky start to the year for EUR/CHF, but the rate cut position should mean that EUR/CHF is at least tactically trying to turn around.
The cross is still trading below the 200-DMA of 0.9580.
