According to the recent survey conducted by Credit Suisse and ZEW, Swiss investors are more confident in July. After dropping down to -43.4 points in June, the index recovered up to -42.5.
The respondents (financial experts) now feel more confident about Switzerland’s near-term economic prospects. This is a positive sign despite the poor performance shown by the index.
At the same time, the current economic situation in Switzerland has deteriorated.
Forex.
According to the Online Trading Department of , the Swiss Franc is recovering against the US Dollar. USDCHF is currently forming sub-wave А(С)/С, which is a part of wave 4 or В(С) of level Daily.
If the price breaks and consolidates below the local low (0.9746), it will continue forming the current move through sub-wave А(С)/С. If this is the case, the closest major levels of support are located around 0.9715/05, 0.9677 (Fibonacci levels). The current move will be completed as soon as the price overcomes the top of the MF sloping channel and consolidates above the MF pivot located 0.9791.
