Forex: Swiss ZEW Survey shows expectations increase to 8.8 from -13.5

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Switzerland’s ZEW Survey released their economic Expectations Index which gave a reading of 8.8 in April, better than the previous month’s decline of 13.5. This is an increase of 22.3 points which is bullish for the Swiss Franc.

The survey includes answers from institutional investors and analysts who give a rating on their 6-month economic outlook for the country. It is a leading indicator of the country’s economic situation. Any figure above zero is good for the currency.

The Swiss Franc has been on a strong run, hitting its highest against the US Dollar today since last month. USDCHF touched a low of 0.8895 towards the end of the Asian session. It is currently trading at 0.8929 fifteen minutes after the news.