According to the recent KOF report, the economic conditions in Switzerland deteriorated in June 2015, Market Leader reports. In particular, the experts say that the deterioration took place mainly due to some negative tendencies in the domestic manufacturing sector.
The corresponding index dropped from 92.7 in May down to 89,7 points in June. It was expected that the index would have continued its growth up to 93.6 points. The June figures set the lowest figures since December 2011 – 87.2 points.
At the same time, the experts say that the negative tendencies are systemic and seen in every single niche of the Swiss manufacturing sector. At the same time, the Swiss financial sector is also showing signs of weakness. Meanwhile, the local consumer spending made almost no impact on the index since the construction sector showed signs of recovery.
FOREX
Meanwhile, the Swiss Franc is developing a mid-term downtrend against the U.S. Dollar, which means that the USDCHF currency pair is going up within the scope of a bullish momentum represented by wave a(C )/ C of level Daily or higher, Masterforex-V Academy reports.
A break below the MF Pivot at 0.9284 and the bottom of the MF sloping channel will indicate the end of the bullish momentum. At the same time, a break above the 0.9502 high will give way to further local highs. In this case, the price may encounter resistance at 0.9533, 0.9563, 0.9598/601 and 0.9542.
