~ Switzerland the decline in exports political floor the SNB EURCHF support

24 April 2012 06: 43 GMT  the takeaway: Switzerland trade deficit falls in March and expectations misses-> lower exports are likely to support the program of intervention in currency of the SNB-> EUR/CHF 1.2000 floor remains intact

Switzerland trade balance fell to 1.688 billion in March, well below analysts 3 billion planned, as Swiss exports fell and imports rose. Real exports data seasonally adjusted abandoned 2.5% from February, when the actual imports have increased by 4.6%, according to a report of the Federal Office of the customs of.

The decline in exports comes at a time when the Swiss National Bank was pushing a building exaggerated of the Swiss Franc. As economic signs have been worsening in Europe, traders will their money for the franc as a safe haven. Worry that an increase in the cost of their currency could curb exports, the SNB has been buying Euros in an effort to create a floor 1.2000 EUR/CHF. It could be argued that disappointing exports today will encourage only their policy, perhaps even lead to a rise in the floor.

EUR/CHF has not moved significantly on the news of the decline of exports and is in 1.2000 consolidated above range and below 1.2034. EUR/USD dropped to new lows daily after the report, but remains in the trading range of the past.

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24 April 2012 06: 43 GMT