According to the latest data published by KOF, the forecast for the Swiss economic growth is positive. The KOF index of leading indicators increased from 1.59 up to 1.67 in September. That was a pleasant surprise for analysts as they had anticipated a decline down to 1.54.
The KOF index is based on the following 3 major indicators: GDP, construction and banking. The experts say that the GDP and banking sub-indexes are bullish while the construction one is still neutral.
Forex.
According to , the Swiss Franc has weakened a bit against the US Dollar. However, the Swiss currency is still in uptrend versus its US counterpart. The experts report that USDCHF is still forming a big-scale downswing represented by wave А/В of level Weekly.
A further downswing (if there is a break below 0.9237) may have difficulty overcoming the levels of support located around 0.9064 and 0.9042.
