Tag Archives: 1) SNB and CHF

USD/CHF is correcting back after peaking as it extends its uptrend.  The pair will probably resume its bullish bias after the pull back has completed.  USD/CHF is pulling back within its short-term uptrend after peaking at 0.8642 on Monday. The move is only likely to be a temporary correction, however, before the pair resumes its uptrend and extends its sequence of higher highs and higher lows.  USD/CHF 4-hour Chart  USD/CHF will probably...

Gold slips as China’s stimulus efforts fail to ease deflationary pressures. Minneapolis Fed President Kashkari’s comments on modest rate cuts and a strong labor market further support the Greenback. Geopolitical tensions, including Israel’s response to Hezbollah and Iran, continue to influence Bullion prices, with traders eyeing US economic data later this week. Gold price retraces after hitting a daily high of $2,666 on Monday as China’s...

USD/CHF continues rising and might have established a medium-term uptrend.  It is likely to continue higher although it is potentially overbought and a downside gap risks closing.  USD/CHF is rising up and forming a sequence of higher highs and higher lows which indicates it is probably in both a short and – now also – a medium term uptrend. Given it is a key tenet of technical analysis that “the trend is your friend” the odds favor more upside...

USD/CHF gains ground to near 0.8575 in Wednesday’s early European session.  Reduced bets of a jumbo Fed rate cut in November support the USD ahead of the FOMC Minutes.  The escalating Middle East geopolitical tensions might cap the pair’s upside.  The USD/CHF pair trades on a stronger note to around 0.8575 during the early European session on Wednesday. The firmer US Dollar (USD) amid diminishing odds for more aggressive rate cuts by the...

The Japanese Yen recovers further from a two-month trough touched against the USD on Monday. Geopolitical tensions benefit the safe-haven JPY and exert downward pressure on the USD/JPY pair.  The BoJ rate hike uncertainty caps gains for the JPY and should limit any further losses for the major.  The Japanese Yen (JPY) remains on the front foot against its American counterpart for the second successive day on Tuesday, albeit it lacks bullish...

Ladies and gentlemen I am very pleased to welcome you to the eighth Karl Brunner Distinguished Lecture. We are delighted and honoured that Professor Kristin Forbes accepted our invitation. I would like to thank the ETH Zurich and its President, Joël Mesot, for their hospitality. When we began our search for tonight’s speaker, we had specific qualities in mind. We were looking for an exceptional economist who is at home both in academia and policy, and who can...

USD/CHF is rising within a range-bound market.  It has almost reached its target close to the top of the range high.  USD/CHF extends its gains as it unfolds an up leg within a range-bound market.  The move is underway and likely to reach the 0.8517 resistance level formed by multiple recent highs. A really bullish move could even see the pair reach the 0.8539 ceiling of the range. USD/CHF 4-hour Chart  USD/CHF is in a sideways trend. Given...

Iran launched over 200 ballistic missiles at Israel on Tuesday. The attack began at 7:30 p.m. Israel time, after the US had warned just hours before that a strike was imminent. The Israel Defence Forces reported several of the missiles were intercepted, and reports said one person was killed in the West Bank, per Bloomberg. Israeli Prime Minister Benjamin Netanyahu vows to retaliate against Iran for a missile attack on Tuesday, but Tehran warned...

Newly-minted Chairman of the Swiss National Bank (SNB) Martin Schlegel hit newswires on Tuesday, cautioning that further rate cuts haven't been ruled out. The incoming Chairman of the SNB officially took the reins of Switzerland's central bank on early Tuesday, and has inherited a central bank still caught in the wake of last year's lopsided management of the merger between 167-year-old Credit Suisse and UBS. Key highlights The services sector...

USD/CHF is rising within a range-bound market.  It has encountered resistance at a cluster of MAs but will probably continue higher. USD/CHF is rising up within its sideways range. It has reached a cluster of major Moving Averages which are providing firm resistance.  USD/CHF 4-hour Chart  The trend is neither up nor down but rather sideways and so the oscillating character of the market is likely to extend, given the principle that “the...