Swiss Franc Pressured at Key Support, Risk Trends Still in FocusFundamental
Outlook for Swiss Franc: Bearish
- Swiss Jobless Rate Increases to 2.7%, the highest in 9 months
- Investor Confidence Improves as SNB Steps Up Efforts to Support Growth
- Swiss National Bank Cuts Rates 0.50%, Cuts GDP Forecasts
On balance, the data docket is unlikely to stir meaningful volatility in the Franc exchange rate, with markets already betting that Switzerland will follow the lead of other European nations into a protracted downturn. Indeed, last week saw the Swiss National Bank cut interest rates by another 0.50% on expectations that the
economy will shrink in 2009 and 2010 (-0.5% and -1.0% respectively).
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