The August increase in the burst of optimism Swiss investors was false. For the September ZEW indicator values confirmed the downward movement of the index. Its value has dropped to -5.1 compared to 9.1 a month earlier. Note that the corresponding indicator for Germany also came out strongly in the negative zone. These countries have a close relationship, so the correlation in the business community also remains very high. Behaves similarly indicator assessment of current conditions. He continues a marked increase in the assessment of current economic conditions. Also, an increasing number of respondents expecting higher short-term interest rates. Given that this coming Thursday is not expected to tighten monetary policy, however, the future experts are more likely to believe that the SNB will tighten the screws. For comparison, Japan has actively continued relaxation of monetary policy, and such steps from the U.S. is actively weighed in recently.
Nevertheless, intervention on the yen and the subsequent weakening of the currency had its influence on the franc. It shows the decline in the day against the dollar and euro. Franc against the dollar failed to hold above parity for a long time, and the euro slumped to a "round" a mark of 1.30. Meanwhile, the Swiss research institute raised its estimate for GDP growth in Switzerland in 2010 to 2,7% against 1,9% previously. But it noted that he expects a slowdown to 1,4% next year, naming as one of the reasons for appreciation of the franc to the euro.
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