SNB Zurbruegg: Outlook for Swiss economy favorable
Speaking on the economy.
The EURCHF moved above its 100 day MA today at 1.13283 (weaker CHF). That run took the price up to test the high from Dec 20 at 1.13489. The high today reached 1.13466. The price correction remains above the key 100 day MA though. We currently trade at 1.13359 - between the two levels.
- uncertainties have risen of late, including protectionism, Brexit, Italy
- Outlook for Swiss economy favorable
- situation on Forex market remains fragile
- inflationary pressure remains slight
- interest rate differentials important for exchange rates
- current monetary policy remains appropriate
- heightened uncertainty, highly valued Frank, low inflation pressure and global low rates warrant expansive policy