NEWS

Swiss Federal Government published data on foreign residents in the country that showed numbers are on the rise. Over two million foreigners live in Switzerland, which makes for one quarter of the country’s total population. The beginning of the week brought also financial data of Swiss National Bank.

The euro exchange rate stumble on Thursday after the European Central Bank decided to hold on tight to is monetary policy despite investors’ hopes. There will be no change in the near future to the low rate strategy. Dollar reached five-days high on Friday.

New data on Swiss economy published this week showed some record figures in terms of export and new heights in watches’ sales. Additionally, it turns out that Switzerland is the most innovative country in the world.

As of July 1st, there are new regulations on posting vacant jobs advertisements for professions with high unemployment rate. Their aim is to promote and aid use of domestic workforce which could make it more difficult for frontaliers to apply for a new position.

The euro fell on Wednesday even though business activity data was better than market had expected. The Chinese Yuan was growing sharply after the central bank intervention. Whereas the US Dollar exchange rate was steady against the six major currencies ahead of the Independence Day.