Markets  |  March 14, 2013 10:46:00

EUR / CHF remains fixed with

Swiss National Bank (SNB) in its statement retains the minimum shifts course on EUR / CHF at 1.20. The Swiss franc is by bank still relatively high. SNB considered stable exchange rate as an important instrument of its monetary policy and is ready to intervene if necessary, unlimited on the currency market. SNB objective is to maintain price stability. Switzerland has also retained its interest rate libor rate ranging from 0.0 to 0.25 percent.

SNB, led by President Thomas Jordan tied to the euro exchange rate in September 2011, after investors clashed value of EUR / CHF close to parity 1.0. Such a course would have choked growth in the domestic economy, especially exports. Minimum course also prevent Switzerland from falling into recession, which is mainly due to the economic state of the euro area prone. This year, the SNB expects growth of between 1 and 1.5 percent.Prices should discounting this year in Switzerland by 0.2 percent. The unemployment rate in Switzerland holds near 2-year highs of 3.1 percent, which is of course ridiculous number compared with the euro area average 11.9 percent.

Currency pair USD / CHF in today's session strengthens. Overcome important 0.9495 level and is headed to previous highs. Growth has nenabral faster pace and it will be interesting to watch the reaction to the price of 0.9550. Oscillators are placed in overbought zones. However, while the price keeps rising trend channel, so we remain in a bull trend.

Currency pair EUR / CHF also strengthened. Problem found in the resistance level 1.2365, which is now going to re-test. According to the position of the stochastic oscillator, we can expect a slight correction before any penetration.

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