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At the Forex currency market Swiss Franc rate is being traded upward on Friday for the third consecutive day, activity in the pair USD/CHF is above average.

Forex forecast: MACD indicator for the pair USD/CHF is in the positive area, has gradually shifted sideways, not giving a clear signal. Stochastic Oscillator is going down, and is giving a sell signal.

Forex recommendations: in case of breakdown at 0.9420 USD/CHF will go to 0.9400 and 0.9380.

There has not been any new macroeconomic news in Switzerland. Most likely, increased interest in Franc can be explained by neutral external background and market's interest to risk in general.

According to the data released in the end of December leading indicators index KOF fell to 0.01 points in December against the forecast of 0.23 points and previous revised value of 0.34points. It became known earlier that trade balance in Switzerland rose by 3.0billion francs in November against the forecast of +2.00 billion francs and previous value of +2.15 billion francs. Index is favourable; however it is based on the efforts of the local regulator to curb the rate of the Franc.

It became known earlier that unemployment rate in Switzerland increased to 3.3% in December against expectations of 3.2% and the level of 3.1% in November. Obviously, slowdown in the national economy still goes on.

Three-month Libor rate was left in the range of 0-0.25%, closer to zero; the Bank did not change pegging level of Franc to Euro, maintaining the actual level of 1.20. GDP in Switzerland will amount to 1.5%-2.0% this year; main growth will be attributed to the results of the first part of the year.

Earlier, Swiss authorities said that government does not have tools for direct influence on SNB. Representatives of the Finance Ministry of the country stated that politicians have no ground to doubt the Bank's strategies; however the issue with Hildebrand requires special consideration. Ministry also stressed that new head of SNB will be appointed only after further discussion.

We would remind that the head of Swiss National Bank Phillip Hildebrand resigned this week. The name of successor is still unknown and it is also not clear if new governor of the Bank will adhere to the same policy as his colleague in monetary issues.

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