Switzerland’s Producer Price Index (PPI) and import kept going down in February. The latest report released by the Swiss Federal Statistical Office reports that. Still, the pace of this decrease turned out the be the lowest one over the past 12 months.
As for the year-over-year figures, the PPI and import dropped by 4,6% in February 2106 relative to February 2015. That was a slowdown as opposed to January’s pace, where the PPI and import dropped 5,3% down. At the same time, the actual figures turned out to be better than expected since analysts had expected a 5,1% drop.
It should also be noted that February’s figures happened to be the lowest ones since March 2015, when the index dropped only 3,4% over the reporting period. As for month-over-month figures, the prices dropped by 0,6%. With that being said, the pace accelerated relative to 0,4% seen over the previous reporting period. At the same time, experts had anticipated a 0,2% drop.
FOREX
In the meantime, Masterforex-V Academy reports the Swiss Franc keeps on rallying against the U.S. Dollar, which means that USDCHF is going down. To be more specific, USDCHF is going on with another downward momentum – wave 3/С of level Daily2. For now, there price is unfolding wave 3/C inside of the mentioned move.
The closest levels of support are 0.9475, 0.9258. The closest levels of resistance are the top of the descending MF sloping channel and MF pivot 1.0091. A break above them will put an end to the bearish bias.
