The Swiss economy kept growing in Q1 2013. In particular, the Swiss GDP grew by 0,6% quarter-over-quarter while the year-over-year increase was 1,1% during the reporting period, the SECO reports.
The growth took place amid higher consumer spending on healthcare and household expenses, thereby making up for the effect caused by a strong franc and lower demand for Swiss products in the eurozone. Such a positive effect was caused by investments in construction amid external trade surplus.
Last year’s average GDP growth was equal to 1% after declining from 1,9% a year before. Still, the Swiss economy is fairly strong at this point, especially if to compare it with the eurozone economy.
A further decline will give way to 0.9331 and 0.9245. The current bearish move will be completed as soon as the price overcomes the top of the MF sloping channel and consolidates above 0.9688 (as shown below).
The chart below, courtesy of Masterforex-V Academy, reflects the current state of affairs in the market of USDCHF. The currency pair is declining, which means the Swiss franc is getting stronger against the US Dollar.
