At the Forex currency market the situation with the Switzerland franc and its further movement pattern is not clear.
March 30th, 2010
Forex forecast: MACD indicator is in the negative zone on Tuesday and it is dropping below Thus its signal line indicating a pair USD / CHF trading signal. An stochastics oscillator is in a neutral zone today and has already made the similar signal.Forex Recommendation: A pair USD / CHF bearish tendency can enhance so it is required to hold until the pip to 1.0575 breaks, then there will be a move towards 1.0510.
Switzerland The following data was published today:
- February, UBS consumption indicator is 1.199 against 1.323 in January (revised from 1.36) Index drops is obvious which show private consumption trends.
The day before Switzerland Bank President Mr Khildebrang stated that the bank can buy a
big volume of foreign currency to keep deflation in check and soothe Switzerland franc rate. "We will not let deflation be back and our position is clear Utmost. The means we have available are plain: we buy foreign currency and the purchase volume can be high - he stressed out.
"You should look at the economic development Switzerland. It was quite steady last year, the drop was only to 1.5%, it is a good index compared to many other countries. I would say that we had done a lot more dramatic to Prevent Recession - expressed his opinion Mr Khilderbrang.
Not long ago France Minister of Finance stated that there is no any pressure currently Which Will Force to carry out currency market inventory now. Minister also points out that he finds the current Euro / Franc exchange rate acceptable. At the beginning of January Switzerland Bank representatives stated that currency market inventory should be carried out in the nearest future to restrain the national currency growth. It was pointed out that currency exchange market have been thoroughly examined. The Bank of Switzerland reckon that the strong franc can be disastrous for the country's recovering economy.
"As for the country's economic situation in general we can point out that starting from 1012, new regulations will be introduced in the country. According to the new regulations banks will have to accumulate their own funds to withstand financial problems in the future. "A full set of regulations will be ready by the end of 2010. Regulations will be introduced Gradually Alongside with the improvement of the economic financial condition. The regulations complete introduction and adaptation are scheduled for 2012 "says the recently published document.
Interest rate in Switzerland is within targeted range of 0-0.75%.
"You should look at the economic development Switzerland. It was quite steady last year, the drop was only to 1.5%, it is a good index compared to many other countries. I would say that we had done a lot more dramatic to Prevent Recession - expressed his opinion Mr Khilderbrang.
Not long ago France Minister of Finance stated that there is no any pressure currently Which Will Force to carry out currency market inventory now. Minister also points out that he finds the current Euro / Franc exchange rate acceptable. At the beginning of January Switzerland Bank representatives stated that currency market inventory should be carried out in the nearest future to restrain the national currency growth. It was pointed out that currency exchange market have been thoroughly examined. The Bank of Switzerland reckon that the strong franc can be disastrous for the country's recovering economy.
"As for the country's economic situation in general we can point out that starting from 1012, new regulations will be introduced in the country. According to the new regulations banks will have to accumulate their own funds to withstand financial problems in the future. "A full set of regulations will be ready by the end of 2010. Regulations will be introduced Gradually Alongside with the improvement of the economic financial condition. The regulations complete introduction and adaptation are scheduled for 2012 "says the recently published document.
Interest rate in Switzerland is within targeted range of 0-0.75%.
