Release Explanation: Zentrum für Europäische Wirtschaftsforschung (ZEW) Expectations determines institutional investor sentiment regarding the economic outlook. The monthly indicator reflects the difference between the share of investors that expect further improvement of economic conditions and those that expect growth to decrease.
Trade Desk Thoughts: The Zew Indicator for Switzerland, gauging analysts’ economic expectations, improved in February to -57.7, from -66.7 one month earlier.
However, the indicator for the assessment of the current economic situation dips by 4.6 points to the minus 45.3 level. Turning to commodity prices, 93.8% of the respondents do not forecast a further decrease in oil prices.
Opinions on the part of survey respondents regarding gold prices hardly changed at all versus the previous month, with the corresponding balance edging down marginally by 1.3 points to the 34.0 mark. Finally, 96.2% of the specialists view the labor market situation in a pessimistic light and expect the unemployment rate to grow.
Forex Technical Reaction: The swissy is trading near the Asian open price, even though the dollar was sold during the European session. At the time of the release, the swissy made a 25-pip candle