Will Swiss economic sentiment continue to show pessimism?

NEW YORK (Forex News Now) – ZEW, the Centre for European Economic Research, is due on Wednesday to publish key data on Swiss economic sentiment, in a major event for FX traders.

Observers will look to see if the index continues to show more pessimism, as it has done for the last three consecutive months, falling from 9.1 in August to -30.9 in November. (A reading of above 0.0 indicates optimism).

The centre is scheduled to release the report at 10:00 A.M., GMT; as such it should have an impact on today’s currency market trading involving the swissy.

According to USD/CHF analysis, evidence of more optimistic economic sentiment could push the currency pair toward short-term support around the Oct. 18 low of 0.9541.

But should the figures on the index continue to fall, USD/CHF could lift toward short-term resistance around last Friday’s close of 0.9806.