Switzerland's trade surplus exceeded expectations at 3.662 billion Swiss francs, higher than the forecasted 3.5 billion Swiss francs but lower than January's 4.701 billion Swiss francs. Imports increased to 18.812 billion Swiss francs while exports decreased to 22.474 billion Swiss francs.

The Swiss National Bank (SNB) anticipates an average inflation rate of 1.9% in 2024. Currently, the inflation rate is lower than expected at 1.2%. However, the Consumer Price Index (CPI) increased by 0.6% in February compared to 0.2% in the previous month.

Investors are awaiting the Swiss National Bank's policy meeting scheduled for Thursday, with a 29% possibility, according to Reuters, of the SNB reducing interest rates at this meeting. Such a rate cut could further weaken the Swiss franc (CHF).