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At the Forex currency market Swiss Franc rate is being slightly corrected on Monday after explosive growth in the status of the protective currency on Friday.

Forex forecast: MACD indicator is in the negative area for the pair USD/CHF, is going up and is giving a buy signal; volumes are below average. Stochastic Oscillator is going down in the neutral zone and is giving a sell signal.Forex recommendations: off the market.

Feasible event scenario at Forex: in case of breakdown at the level of 0.8400, the pair USD/CHF will go to 0.8420 and 0.8450. If upward breakdown does not take place, the pair will aim at the level of 0.8350.It became known last Friday that aggregate unemployment rate in Switzerland increased to 3.0% in June against the forecast of 2.8% and previous level of 2.9%.

In addition, as it became known earlier, CPI in Switzerland fell by 0.2% m/m (+0.6% y/y) in June, while the forecast had been +0.7% y/y. However, supporters of the Franc were not frustrated with the data; although it was a negative economic signal. Demand in Franc grew steadily on Friday in the status of the protective currency.

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

Earlier, at the meeting of Swiss National Bank, 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%).

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