Sat, Oct 16, 2021 @ 11:54 GMT
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Swiss ZEW Expectations Index Deteriorated In March

For the 24 hours to 23:00 GMT, the USD rose 1.12% against the CHF and closed at 0.9568.

On the data front, Switzerland’s ZEW economic expectations index fell to a level of 16.7 in March, after recording a reading of 25.8 in the previous month.

Meanwhile, the KOF Economic Institute, in its latest economic forecast report, boosted Switzerland’s economic growth forecast to 2.5% for this year, up from 2.3% estimated earlier in December. Meanwhile, growth in 2019 is expected to be 1.8%, revised up from 1.7%.

In the Asian session, at GMT0300, the pair is trading at 0.9562, with the USD trading 0.06% lower against the CHF from yesterday’s close.

The pair is expected to find support at 0.9490, and a fall through could take it to the next support level of 0.9418. The pair is expected to find its first resistance at 0.9606, and a rise through could take it to the next resistance level of 0.9650.

Ahead in the day, traders would focus on Switzerland’s KOF leading indicator for March.

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

GCI Financial
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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