The Swiss franc's inflation rate has been continuously decreasing.

The Swiss franc has been consistently depreciating since the beginning of last year due to strong inflation rates in the United States, which indicate the robust economy and labor market of the US. Furthermore, there is also reduced anticipation of another decrease in investor interest rates. In Switzerland, the reduction in the SNB interest rate has led to a rapid depreciation of the Swiss franc. Apart from the negative economic confidence and the contraction in retail sales, which support market expectations that the SNB may raise interest rates again at the June meeting.

Consumer confidence index in Switzerland decreased to 42.3 in February, slightly up from the previous month. This reflects increased concerns about the strength of personal finances and the overall economy in the coming months. Consequently, consumers are unable to purchase goods in large quantities. Additionally, confidence in job security has also decreased due to the country's poor economic conditions.

The Swiss franc's inflation rate decreased to 1% annually in March, down from 1.2% the previous month, marking the lowest decrease in three years. This was mainly due to a slowdown in food and beverage prices and reduced transportation costs, helping the SNB achieve its inflation target once again. Meanwhile, the core inflation rate, excluding volatile items such as food and energy, decreased to 1%, emphasizing the SNB's ability to control inflation.

Switzerland's GDP expanded by 0.3% in the fourth quarter of 2023, exceeding expectations of 0.1%. The slight decrease in the manufacturing sector by 0.1% was offset by significant growth in other industries, particularly the energy sector, which grew by 4.3%, mainly due to hydroelectric power plants. Additionally, the service sector played a significant role in GDP growth, particularly in the rental and food services industries, which expanded by 3.5%.

The unemployment rate in Switzerland remained at 2.4% in March, unchanged from the previous month, with a decrease of 3,286 unemployed individuals to 108,593. Similarly, the youth unemployment rate decreased to 2.1% from 2.3% the previous month, with 608 fewer unemployed youth, totaling 9,505.

Techical analysis data (5H)

Resistance: 0.9152, 0.9162, 0.9176

Source: Investing.com

Buy/Long 1: If the price touches support in the price range of 0.9114 - 0.9128 but cannot break the support at 0.9128, you may set a TP at approximately 0.9162 and SL at around 0.9104 or according to your acceptable risk.

Buy/Long 2: If the price breaks the resistance in the price range of 0.9152 - 0.9162, you may set a TP at approximately 0.9176 and SL at around 0.9114 or according to your acceptable risk.

Sell/Short 1: If the price touches resistance in the price range of 0.9152 - 0.9162 but cannot break the resistance at 0.9152, you may set a TP at approximately 0.9114 and SL at around 0.9176 or according to your acceptable risk.

Sell/Short 2: If the price breaks the support in the price range of 0.9114 - 0.9128, you may set a TP at approximately 0.9104 and SL at around 0.9162 or according to your acceptable risk.

Pivot point April 15, 2024 10:44 AM. GMT+7