The Swiss ZEW investor sentiment has risen to 4.8 by 2.6 points, news that do not influence markets. More interesting is the following:
Swiss ZEW Investor Survey Sees 1.20 per Euro Cap Gone within 2 Years
* Majority see no change in euro/franc for next 6 months
(Reuters) – The Swiss National Bank will most likely scrap its 1.20 per euro lid on the franc within the next two years – and probably within a year, a survey of investors by the ZEW economic research institute showed on Wednesday.
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Respondents in the ZEW’s July survey saw an average 38 percent probability of the cap being lifted within a year – split into a 14 percent chance it will go within six months and a 24 percent chance it will end in six months to a year.
Analysts thought there was a further 36 percent probability the cap would be removed in one to two years.
They saw only a 25 percent chance the central bank would keep the minimum exchange rate in place for more than two years, the ZEW said. That was down from the 29 percent probability analysts gave in the ZEW’s April survey.
The proportion expecting a depreciation of the franc against the single currency fell to 21.4 percent in July from 41.3.
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