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• 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: Swiss Franc retreats on Wednesday

At the Forex currency market Swiss Franc rate creeps down in the middle of the week.

Forex forecast: MACD indicator is in the positive area for the pair USD/CHF, however it is moving along the signal line therefore the signal has not formed yet. Stochastic Oscillator is giving a pair buy signal.

Forex recommendations: in case of breakdown at the level of 0.9890 the pair will go to the levels of 0.9920 and 0.9950.
In general the situation in Swiss economy has remained unchanged.

Inflation in Switzerland demonstrates growth (CPI in November: +0.2% m/m, (+0.2% y/y) against the forecast +0.1% m/m, (+0.1% y/y)- it is moderate at the moment however it is a positive factor for the economy which indicates stability. This data will support CHF in short term.

It became known earlier that GDP in Switzerland rose by 0.7% q/q (+3.0% y/y) in QIII against the forecast of +0.5% q/q (+3.1% y/y).  The fact that Swiss economy is growing above expectations has confirmed our theory about stability in the country. It is clear that European problems will have an impact there, as well as they will affect Great Britain for example; however situation in Swiss economy seems steadier.

Swiss Franc was fortunate last week –three days of Franc’s powerful growth has led the pair to the high level of 0.9710 – from where a lower border of the medium channel of 0.9640 is round the corner, and then a significant rise can start for the pair.

It also became known yesterday that unemployment rate in November remained at the level of 3.6% which agreed with the forecast.

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