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Thursday could be a busy day for the Swiss Franc, with two fundamental events.
First is the release of September unemployment data, and then we have SNB’s Jordan giving a press conference. We’ll focus on the unemployment data because Switzerland has an uncommon way of measuring joblessness.
The situation is further complicated with the latest increase in COVID cases in the Alpine nation.
Switzerland was one of the harder-hit countries in the first wave, with the majority of their cases concentrated near the southern border with Italy. And they haven’t been immune from the latest spike in cases across Europe.
Although, unlike other countries, their new case numbers have not exceeded the “first wave”. Yet.
As COVID took hold, Swiss unemployment naturally moved higher – to 3.4%, which for most other countries would be a fantastic unemployment number.
But Switzerland doesn’t use the same parameters for unemployment, and only considers citizens actively seeking empl...
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