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At the Forex currency market Swiss Franc rate is traded slightly downward on Thursday; and further movement direction has not yet been clearly determined.

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

Forex recommendations: off the market.

Feasible event scenario at Forex: in case of breakdown at 0.9530 USD/CHF will go to 0.9510 and 0.9500.

Yesterday, 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 appointedonly 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.

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 0.34 points. Itbecame known earlier that trade balance in Switzerland rose by 3.0 billion 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.

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