CHF: Swiss Franc goes down on Thursday despite the market stability

At the Forex currency market it seems that prerogative of determining trends directions is in the hands of the speculators again, otherwise what else can explain the current decline of Swiss Franc today.

Forex forecast: MACD indicator is in the positive area for the pair USD/CHF and it is moving up, giving grounds for a pair buy signal. Stochastic Oscillator is giving a similar signal today, being in the neutral zone.

Forex recommendations: if the bullish sentiments intensify for the pair USD/CHF and if the parity level of 1.0000 is broken down, the pair will go to 1.0050 and 1.0090.

According to the data released on Thursday employment in Switzerland excluding agricultural sector increased to 4.08 million people in QIII against the previous level of 3.97 million people. The data is positive for the domestic economy.

It became known earlier that Swiss surplus of trade balance increased to 2.102 billion francs in October while a month earlier the index amounted to 1.690 billion francs. 

Note that situation in Ireland can be favourable for the Franc – if investors continue to avoid risks, stability of the CHF will encourage its growth.
The next meeting of the National bank of Switzerland is scheduled for 16 December. Philipp Hilderbrand, the head of Swiss National Bank, said today that his belief in the stability of Eurozone remains unchanged. In his view, European leaders are able to adopt measures to restore financial stability which, in its turn, will reduce pressure on the CHF“. “I am convinced that European Union and Eurozone will cope with challenges. Stability of the Eurozone is an important factor which affects the Franc and economy.” –he emphasized in his speech.   The CHF rose by 11% against the Euro since the beginning of the year because of financial problems in Eurozone.

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