Economic confidence is surely picking up the pace in Switzerland as the economy stabilizes and the SNB holds its pledge to defend the franc and restrain excessive gains, especially as it comes amid gradual unwinding of fears over the outlook in the euro area.

The ZEW Expectations index in April improved to 2.1 from the previous 0.0 reading in March signaling that the outlook for the economy is looking better for businesses and will help the economy expand further.