The Australian labor market surprised to the upside on its headline figure on the back of part-time jobs creation. Full-time jobs were lost and the unemployment rate advanced. The Australian Dollar came under selling pressure as bearish momentum is expanding. The Reserve Bank of Australia will closely follow economic developments as its last minutes indicated that an interest rate cut is on the table. Will the AUDCHF enter a bigger sell-off or is the current sell-off a limited move to the downside? Today’s fundamental analysis will cover price action in both directions.

The Swiss trade surplus for August came in weaker than expected with a slump in exports. This confirms that the global economy continues to slow down faster than economists predicted. Forex traders will get the SNB interest rate decision today where no change is expected. This will follow the FOMC and ECB interest rate cuts while the Bank of Japan kept rates unchanged. How will the AUDCHF be impacted following the SNB announcement? Subscribe to the PaxForex Daily Fundamental Analysis and grow your balance trade-by-trade!