SNB may lower the rate
The upward movement means the strengthening of the euro against the Swiss franc. The current SNB rate is -0.75%. The last time it was reduced by 0.25% from -0.5% in January 2015. The Swiss Central Bank regular meeting is to be held on June 17, 2020 and a lower rate of -1% is expected. Switzerland released positive data on foreign trade for April and the labor market for the 1st quarter of 2020. Recall that the ECB rate of 0% looks more attractive than that of the SNB. Eurozone inflation data for May will be released on Friday. The outlook is positive for the euro.
Summary of technical analysis
|Buy stop||Above 1,064|
|Stop loss||Below 1,056|
Market Analysis provided by IFCMarkets
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