Swiss Interest Rate Decision
Swiss National Bank will issue interest rate at 0730 GMT/1300 IST. Market has anticipated flat rate at -0.75 pct only but focus turns on the Monetary Policy rate statement as well. It’s the primary tool the SNB Governing Board uses to communicate with investors about monetary policy. It contains the outcome of their decision on interest rates and commentary about the economic conditions that influenced their decision. Most importantly, it projects the economic outlook and offers clues on the outcome of future rate decisions.
Let’s see how CHF has reacted during the previous data release:
USD/CHF: Swiss Franc trades almost flat ahead of SNB’s Interest Rate Decision. Pair made intraday high at 0.9245 and low at 0.9215 mark. A sustained close above 0.9237 will drag the parity up towards key resistance around 0.9260, 0.9299, 0.9351 and 0.9398 mark respectively. On the other side, a consistent close below 0.9237 will check key supports around 0.9185, 0.9145, 0.9112 and 0.9080 mark respectively.
Take a look and do trade wisely!