Drop forecast for Swiss KOF Economic Barometer

ForexNewsNow | Published on December 29, 2010 at 2:57 am

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Swiss flagNEW YORK (Forex News Now) – The KOF Economic Research Agency is due on Wednesday to publish the level of its economic barometer index, in the day’s main realtime forex news event impacting the swissy.

The report is expected to show that the index dropped 0.05 points to 2.07, according to two major online FX trading news outlets, after hitting 2.12 when the agency last released data at the end of November.

The agency is scheduled to release the data at 10:30 A.M., GMT; as such it should dominate European morning currency market trading.

According to USD/CHF analysis, a larger-than-expected drop in the index could lift the currency pair toward short-term resistance around the Dec. 23 high of 0.9664.

But should the data show a smaller-than-expected decrease, or even an increase, USD/CHF could push below a new all-time low toward 0.9300 level.

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