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At the Forex currency market Swiss Franc rate is being corrected today after testing new historical highs at 0.8925.

Forex forecast: MACD indicator is in the negative area for the pair USD/CHF and continues to go down, giving a pair sell signal. Stochastic Oscillator is coming out of the oversold zone and it started to form a pair buy signal.

Forex recommendations: off the market.

Feasible event scenario at Forex: in case of breakdown at the level of 0.9070 the pair will go to 0.9140 and 0.9200. If the level of 0.8980 is exceeded, bears’ targets will become new historical lows.

According to the data released on Thursday volume of industrial output in Switzerland increased by 6.1% y/y in QIV.

Market awaits decision of Swiss National Bank on three-month LIBOR rate today, which is at the level of 0.25% at the moment. It is most probable that the rate will not be changed as inflation levels will not let the SNB continue previous monetary policy.

It became known yesterday that index of economic expectations ZEW in Switzerland increased to -13.5 points in March against the previous value of -17.2 points. It is a favourable indication for the national economy.

Statistics of the last week demonstrated that level of CPI in Switzerland increased by 0.4% m/m (+0.5% y/y) in February against the forecast of growth by 0.3% m/m. Thus, inflation in Switzerland has been increasing slightly so far, which on one hand, indicates economic recovery in the country and on the other hand does not give rise to discussions of the interest rate revision.

According to the data released last Tuesday, unemployment rate in Switzerland reduced to 3.6% m/m in February against the previous rate of 3.8% m/m. In general it is a positive indicator for Swiss economy, which indicates that economic system of the country is being recovering steadily, despite high rate of the national currency.

In general, amid total global instability, Franc’s status of a protective currency enables to test new historical highs 

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