HomeContributorsFundamental AnalysisOECD Expects Switzerland's Economic Growth To Slow In 2019

OECD Expects Switzerland’s Economic Growth To Slow In 2019

For the 24 hours to 23:00 GMT, the USD rose 0.26% against the CHF and closed at 1.0110.

In economic news, Switzerland’s M3 money supply climbed 3.5% on an annual basis in April, compared to a revised rise of 3.6% in the prior month. Markets participants had expected M3 money supply to record a rise of 3.8%.

The Organisation for Economic Cooperation and Development (OECD) expects Switzerland’s economic growth for 2019 to decrease to 1.0%, compared to 2.5% in 2018. However, it expects economic growth in 2020 to improve to 1.5%.

In the Asian session, at GMT0300, the pair is trading at 1.0116, with the USD trading 0.06% higher against the CHF from yesterday’s close.

The pair is expected to find support at 1.0097, and a fall through could take it to the next support level of 1.0079. The pair is expected to find its first resistance at 1.0127, and a rise through could take it to the next resistance level of 1.0139.

The currency pair is trading above its 20 Hr and 50 Hr moving averages.

GCI Financial
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DISCLAIMER : GCI's Daily Market Commentary is provided for informational purposes only. The information contained in these reports is gathered from reputable news sources and is not intended to be used as investment advice. GCI assumes no responsibility or liability from gains or losses incurred by the information herein contained.

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