Heads up for Swiss CPI coming up at 06:30 GMT ...Middle East

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Heads up for Swiss CPI coming up at 06:30 GMT
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We have Swiss CPI for march due at 06:30 GMTMarkets are looking for a MM print of 0.3% (prior 0.6%) and for a YY print of 1.3% (prior 1.2%).Despite the surprise cut by the SNB at their previous meeting, I think there is two-way risks for the CHF on this print.The SNB were very clear on not providing any forward guidance on rates at the meeting. They also didn't acknowledge a preference for a weaker CHF by saying they are open to both FX reserve buying and selling.Looking at CHF CFTC data (net positioning as a percentage of open interest) we can see that markets have a decent short position running already.Which means an upside surprise could be enough to see some of that unwind.Numbers I'm w

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