KOF institute has published its August report about Switzerland. Economists notice stronger growth of Swiss economy due to economic recovery within eurozone.
Index of leading indicators has increased by 0.11, having reached 1.36, which is higher than in November 2012. Such result is slightly higher than the predicted by economists point 1.29.
Positive dynamics of GDP is expected; the result may also get higher. Considerable impact on predictions is made by expectations of GDP growth within eurozone – a strategic export partner of Switzerland. Opinions of KOF experts are shared by Swiss National Bank. According to the Member of the Governing Board of Swiss National Bank Fritz Zurbrügg, economic growth within eurozone is supposed to improve euro positions against Swiss frank.
Speaking about the growth of GDP, it is worth mentioning that the growth of Swiss economy exceeds the growth within eurozone, which is starting to show signs of recovery after a six-month decline.
USDCHF is showing the signs of long-term uptrend termination. USD/CHF currency pair is set within “bullish” wave А/В, which has reached the point of Н12, according to the experts of Masterforex-V Trading System . This wave will finish with a break of MF sloping channel and pivot MF 0.9184. At this point the pair is within sub-wave 3/С, major resistance and further support will be provided by pivot MF 0.9395.
