The latest series of economic data out of Switzerland disappointed and showed an economic slowdown which exceeded expectations. The Swiss National Bank is expected to keep interest rates at record lows for a longer time period and today’s CPI data is anticipated to show the absence on inflationary pressures. Yesterday’s Manufacturing PMI slide further into contractionary conditions which will hit the Swiss export sector. The CHFJPY started to correct, will this trend last? Today’s fundamental analysis will explore price action in both directions.

Japanese consumer confidence eroded further in September, highlighting the impact of the global economic slowdown as well as the Bank of Japan’s monetary policy. The Japanese Yen came under minor selling pressure following the announcement. A projectile from North Korea landed in Japan’s exclusive economic zone today which added to regional tensions ahead of planned low-level nuclear talks between the US and North Korea. Where will the CHFJPY head from here? Subscribe to the PaxForex Daily Fundamental Analysis and grow your balance trade-by-trade.