2014.04.2405:10:00UTC+00Franc Rises After Swiss Trade Data

The franc rose against other major currencies ahead of early European session on Thursday after the release of Swiss trade data for March.

The data from Federal Customs Administration showed that Swiss trade balance showed a surplus of CHF 2.1 billion in March.

Exports advanced 4 percent in March, while imports fell by real 1 percent.

In the first quarter, exports advanced 4.4 percent on a yearly basis to CHF 51.3 billion. Likewise, imports grew 2.2 percent to CHF 44.4 billion.

As a result, the trade surplus surged to CHF 6.9 billion from CHF 4.8 billion in the prior quarter.

The franc climbed back against the yen and traded around 116.02, from a low of 115.85 hit earlier.

The franc advanced to 1.2197 against the euro, from its early low of 1.2209 hit in the early Asian session. The next possible upside target for the franc is seen at 1.12 area.

Against the U.S dollar, the franc recovered to 0.8820, from an early low of 0.8836. The franc may face upside target at the 0.87 area.

The franc rose to 1.4806 against the pound, off early low of 1.4834. If the franc extends gain, it is likely to face resistance around the 1.475 zone.

Looking ahead, the U.S. durable goods orders data for March and weekly jobless claims for the week ended April 19 are set for release in the New York session.