Swiss investors improved their economic sentiment in September. This is confirmed by the joint report released by Credit Suisse and ZEW. The analysts underline the highest level seen over the last 18 months. September’s figures improved all the way up to 9.7 points as opposed to August’s value of 5,9 points stated in the previous report.
On top of that, the current figures happen to be the highest ones since March 2014, Masterforex-V Academy reports. The figures have been growing continuously after February’s sharp decline, which resulted from the SNB’s decision to unpeg the Swiss Franc from the common European currency. After a strong rally, the Swiss Franc lost some of its strength. With that said, most of the interviewees do not expect the Swiss Franc to strengthen in the near future, at least within the next 6 months. At the same time, the Swiss government assumes that the Swiss national currency remains overpriced. The government also downgraded its forecast for the Swiss economy from 2.1% down to 0.8% in 2015.
FOREX
According to Masterforex-V Academy, the Swiss Franc is still recovering versus the U.S. Dollar within the scope of consolidation against the mid-term downtrend. USDCHF is building a bearish wave – A/B of level Daily. Specifically, the price is currently forming a bullish momentum - wave a(C )/C.
A break above 0.9720 and the top of the descending MF sloping channel will complete the existing wave. A further decline will extend the wave. If that’s the case, the closest targets to pay attention to are going to be 0.9607, 0.9547/40.
