Morning Forex Fundamental: CHF

Morning Forex Fundamental: CHF

'The latest economic surveys indicate a more positive mood on a broad front over recent months' - Economists at the State Secretariat for Economics

After seven consecutive months of gains a gauge of economic expectations fell in March, indicating that Swiss investors and analysts are now less optimistic about the economic outlook. A report by the Credit Suisse, which issues the indicator in cooperation with the German ZEW economic research institute, showed that the Swiss ZEW investor sentiment dropped by 7.7 points to a level of 2.3 in March, after a reading of 10 in the preceding month. A reading, which is slightly above the 0.0 threshold, indicates optimism and suggests that the analysts surveyed expect a stable economic situation until this year's third quarter. Meanwhile, a measure of current economic situation decreased slightly by 2.4 points and reached a level of 15.6 points this month. Earlier this month, the State Secretariat for Economics said that Swiss economy is now expected to expand by 1.3% this year, while projection for 2014 was raised to 2.1% from 2% growth expected in December.

'The latest economic surveys indicate a more positive mood on a broad front over recent months,' economists at the State Secretariat for Economics (SECO) said. 'In view of the continuing stability in the domestic economy and a brighter outlook for exports, the opportunities for a further increase in economic growth during the course of this and next year look good.'