Friday’s publication by Switzerland of its KOF Economic Barometer revealed growing concerns about the future of the Alpine nation’s growth potential. The rising strength of the franc (CHF) has begun to worry many investors who see its meteoric rise as a sign of future trade gouging and GDP decline.
Today’s KOF report only served to underline this heightened tension. The figure was forecast to come in near a reading of 1.84, but fell from last month’s adjusted 1.98 reading to 1.61 over the past month. With the other safe haven currencies, the USD and JPY, meeting resistance from market tension and bank interventions, respectively, the Swiss franc still appears to be climbing despite this growing pessimism.
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Greg Holden is the Chief Market Analyst at ForexYard. Greg uses his detailed knowledge of fundamental and technical analysis to provide some of the leading market forecasts in the forex world today. A guest lecturer at forex symposiums and Chief Editor of ForexYard's analysis center, Greg brings highly detailed and easy-to-use market analyses to his clientele. He has been published on ForexYard's Trading Blog and affiliate websites. Greg holds degrees in Political Science and Economics from Missouri State University, as well as a Masters degree in Middle Eastern History.
