20 March 03:32 AM
Forex news, rate of Swiss franc. Swiss National Bank has defined the fixed rate that may be set for national currency – 1.20 francs per euro. As reported by Bloomberg, the institution recognizes certain signs of stabilization, but there is high threat of deflation.
Analysts expected that the significant level against euro was to be kept. Gross national product unexpectedly rose during the last quarter of 2011, and investors’ trust rose in March. These days the government has raised its expectations about this year’s economic growth. New hopes foresee the 0.8 percent economic growth instead of formerly predicted 0.5 percent.
Central bank has lowered its predictions about inflation in 2014. This year deflation is expected to reach 0.6 percent, and during next two years living standards are expected to rise by 0.3 and 0.6 percent accordingly.
"In short-term perspective inflation will be negative. Last summer the rate of Swiss franc was stronger than expected in relation to pressure on prices. In long-term perspective inflation will be low due to worse perspectives of growth in euro zone and high cost of franc", the Central Bank stated.
As mentioned by Ilya Presler, the head of DFWA Department of Masterforex-V Academy, technically, the situation at forex market is very similar to fluctuations of EURUSD currency pair. Three-wave correctional structure seems finished, but it may go further on Monday. One way or another, strong rising reversal wave is expected:
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After hitting today's high at 1.3524, the common currency declined down to 1.3518 at the beginning of the European trading session. The decline was caused by weaker-than-expected economic data from Germany published a couple of hours ago by Destatis.
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