Holidays in most parts of the world have kept markets fairly subdued. The dollar continued to drift lower, after Fed Chairman Bernanke on Friday expressed that there is no time frame for the central bank to exit from policy stimulus. Remarks from Swiss National Bank Governor Hildebrand were hawkish; he said 'certain upside risks are visible' to inflation, and that keeping rates at current levels for too long would entail long-term risks to price stability. Swiss Franc jumped to new record high against dollar after comments from SNB President Hildebrand on inflation. He pledged SNB's commitment to maintain price stability and said the bank "will not hesitate to take all measures necessary to ensure price stability in our country, also in the future".
Today’s data releases is light due to the 1st of May holiday, with main focus on Swiss Retail Sales, followed later in the day by the US ISM Manufacturing PMI.
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