By ForexMansion.com
This week, the Swiss economy will release important data which is expected to affect the movements of the Swiss franc versus the dollar. Perhaps the most important are KOF Swiss leading indicator, SVME purchasing manager index and retail sales. The general sentiment in market is uncertain, especially with the European debt woes that escalated last week after the rejection of the Portuguese opposition to austerity measures which resulted in the resignation of the Prime Minister and increased speculations that Portugal will receive a bailout, especially as rating agencies cut Portugal credit rating. Thus, with the ongoing debt woes, the franc is expected to gain ground as a safe haven currency.
KOF Swiss leading indicator is predicted to slash to 2.15 in March from 2.18 printed in February, while the manufacturing sector’s expansion is estimated to ease to 62.0 in March from 63.5, which if happened will push the pair up to give some support to KOF predictions on March 9 that stated that within three months one franc will be worth $0.95.Â
