The level of business activity in the Swiss industry sharply fell in January. Economists believe the unexpected rejection of the Swiss central bank to curb the strengthening of the national currency caused the decrease in activity.
The index of business activity in December fell to 48.2 points, said in the report. The January index showed the biggest drop since the fall of 2008, and dropped into the negative zone for the first time in two years, ActivTrades experts said (rated among the TOP Forex Brokers Masterforex-V World Academy http://www.masterforex-v.com/).
Economists associate fall in activity with the SNB unexpected refusal to curb franc strengthening against the euro. Credit Suisse analysts said that about 75 percent of Swiss exporters did not expect a sharp rise in the Swiss franc.
Meanwhile, the franc to the US dollar shows weakness in the medium-term trend. USD / CHF is growing in the "bullish" A / B wave of H12 level, Masterforex-V experts say. On Feb. 3, 2015, the pair was in the area of the fourth wave of H2 level. The resistances are the Fibonacci levels 0.9444 / 60, 0.9524 / 44, 0.9575.
