Forex Blog
Blog-FX.Com

• Rouble is losing positions again in pairing with USD and EUR [11/10/2011]
• NZD: New Zealand Dollar is descending [11/10/2011]
• AUD: sales of Australian Dollar do not subside [11/10/2011]
• JPY: Japanese Yen remains in the narrow trade range [11/10/2011]

CHF: signals are still ambiguous for Swiss Franc

At the Forex currency market Swiss Franc rate is going down slightly on Friday, following the trend which had started yesterday.

Forex forecast: MACD indicator is in the positive area for the pair USD/CHF; however it is going down, giving a pair sell signal. Stochastic Oscillator is giving a pair buy signal today, still staying on the oversold zone.

Forex recommendations: off the market.

Feasible event scenario at Forex: in case if breakdown at the level of 0.9470 the pair will go to 0.9500 and 0.9550. If the level of 0.9400 is exceeded, traders’ targets will be the levels of 0.9350 and 0.9320.

The situation in Swiss economy has remained almost unchanged at the end of the week.

Swiss authorities stressed this week that country’s economy has faced a complicated situation; however it is not a crisis. Expensive Franc became a catalyst for the complications in the economic conditions. At the same time authorities declared that SNB does not influence in any way on the CHF rate, although it bears full responsibility for the monetary policy and its contents. It became known earlier that according to UBS estimates, consumer confidence index in   Switzerland increased to the level of 1.842 in December against 1.624 in November. This is a positive indicator for the local economy. Therefore, the situation in Swiss economy remains ambiguous.

Note that possibility of the regulator’s unilateral intervention in the market can become a reality, although chances of currency intervention are estimated as low so far.

At the moment, Swiss Franc still remains in the focus of regulator’s attention. The head of the Swiss National Bank Mr. Hildebrand noted today that rise of the Franc involves a serious risk for some sectors of economy, however, he emphasized that macro-economic indices demonstrate steady growth of the domestic economy at the moment. The head of Swiss National Bank Mr. Hildebrand said earlier, that in his opinion, stability of Eurozone is the key factor of economic growth in Switzerland. He also expressed confidence that the region will revert   to quiet times. Therefore verbal intervention is still effective for Swiss Franc.

 

 

[More]
Tags:
Tags Cloud: mesopotamia deducted deposit workers citi group price marketplace smallest unemployment people