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At the Forex currency market Swiss Franc rate has stepped back slightly in the middle of the week, however the trend of the last three days indicates disposition of the CHF towards strengthening.

Forex forecast: MACD indicator is in the negative area for the pair USD/CHF, and is going up, giving a buy signal; volumes are below average. Stochastic Oscillator has pushed away from oversold zone and started to shape a pair buy signal.

Forex recommendations: in case of breakdown at the level of 0.8350, the pair USD/CHF will go to 0.8370 and 0.8390. If upward breakdown does not take place, the pair will aim at the level of 0.8300/0.8270.

Situation in the economy of Switzerland remained almost unchanged this morning.

At the meeting of Swiss National Bank earlier, it was decided to leave three- month Libor rate in the previous range of 0-0,75% with a tendency  to 0.25%. At the same time, the SNB said that GDP growth would amount to 2% this year. Inflation in 2011 is predicted at around +0.9% (previously +0.8%), in 2012: +1.0% (previously 1.15), in 1013: +1.7% (previously +2.0%).

Representative of Swiss government noted the day before yesterday that national economy is still in good shape despite strengthening of the national currency. As the same time, first signs of cooling in the export sector could be seen and if these symptoms will continue to develop, it will have a negative impact on the economy as a whole.

According to authorities, Swiss National Bank is solely responsible for the course of monetary policy and will likely to adopt new effective measures to achieve price stability soon.

Statistics released earlier showed that producer prices and prices for imports decreased by 0.2% (-0.4% y/y) in May against the forecast of growth by 0.1% m/m.

The data which was made public earlier showed that consumption indicator UBS in Switzerland rose by 1.91 points in May against the growth of 1.57 points in April.

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