Tag Archives: 1) SNB and CHF

Swiss Franc flat versus US Dollar, down against its European rivals.  Another weak economic report from the US keeps the Greenback and markets under pressure.  The USD/CHF pair again was capped by the 1.0025/30 area and pulled back. Near the end of the session it is hovering around 0.9980/85 after falling to 0.9950. The Greenback weakened after US data and then recovered ground modestly. Despite rising against the US dollar, the Swiss Franc was the worst during the...

USD/CHF stays positive above 200-day SMA, 50% Fibonacci retracement. A sustained run-up beyond 61.8% Fibonacci retracement can aim for late-May highs. Despite successfully trading above key support confluence, the USD/CHF pair fails to provide a daily closing above 61.8% Fibonacci retracement of April-August downpour. The quote takes the bids to 0.9975 while heading into the European open on Thursday. Given the bullish signals from 12-bar moving average convergence...

USD/CHF again aims to break two-month long rising trend-line, part of a bearish technical formation. Bullish MACD can trigger an uptick to 61.8% Fibonacci retracement. Sustained trading above 0.9948/50 confluence again propels USD/CHF to confront near-term key resistance-line while taking the bids to 0.9988 amid Tuesday’s Asian session. A rising trend-line since August-start, coupled with another one connecting lows marked since August 13, portrays a short-term...

USD/CHF clings to 23.6% Fibonacci retracement amid bearish MACD. The rising trend-line since mid-August, 200-bar SMA limits downside. The seven-day long falling trend-line restricts immediate advances. Despite being mostly around 23.6% Fibonacci retracement of August-September upside, USD/CHF stays above key support-confluence as it trades near 0.9910 while heading into the European open on Monday. While the bearish signal from 12-bar moving average convergence and...

Central Banks Remain Calm, Investors Not So Much The avalanche of central bank meetings is rapidly winding down. We’ve had cuts, holds and a raise. The surprises have been minimal. Yet it didn’t prevent the inevitable knee-jerk reactions in the market. In truth, put together as a whole, we are no wiser nor better or worse off. I count that as a success. Especially because there was no projection of panic in any of the decisions. Despite on-going, and universal,...

The Swiss National Bank has today published a focus article on its data portal entitled ‘Switzerland’s international investment position – breakdown of changes in stocks’ (data.snb.ch, Resources, International economic affairs, Focus articles). The article examines the extension of the data the SNB provides on Switzerland’s international investment position (IIP). In addition to information on the stocks in the IIP and the transactions in the financial account, the...

Current Account Key figures: Current Account: Down 2.07% against Q2/2018 to 21.3 bn. CHF of which Goods Trade Balance: Minus 1.52% against Q2/2018 to 14.24 bn. of which the Services Balance: Plus 0.85% to 4.72 bn. of which Investment Income: Minus 1.67% to 10.61 bn. CHF. Current Account Switzerland Q2 2019(see more posts on Switzerland Balance of Payments, Switzerland Capital Account, Switzerland Current Account, Switzerland Financial Account, ) Source: snb.ch...

SNB announces its latest monetary policy decision – 19 September 2019 Sight deposits rate unchanged at -0.75% Willing to intervene and will remain active in FX market as necessary Expansionary monetary policy continues to be necessary Trade tensions could further hurt global economic mood Franc remains highly valued 2019 GDP forecast at 0.5% to 1.0%; previously 1.5% 2019 inflation forecast at 0.4%; previously 0.6% 2020 inflation forecast at 0.2%; previously...

Swiss National Bank leaves expansionary monetary policy unchanged and adjusts basis for calculating negative interest on sight deposits at SNB The Swiss National Bank is keeping the SNB policy rate and interest on sight deposits at the SNB at −0.75%. It remains willing to intervene in the foreign exchange market as necessary, while taking the overall currency situation into consideration. Furthermore, the National Bank is adjusting the basis for calculating negative...

Noch vor wenigen Wochen galt es am Markt bereits mehrheitlich als ausgemacht, dass die Schweizerische Nationalbank am Donnerstag den Leitzins von minus 0,75 Prozent auf minus 1 Prozent weiter absenken wird. Ich konnte die Marktmeinung nie nachvollziehen. Der Wind hat nun tatsächlich gedreht. Eine weitere Absenkung der Zinsen scheint nun so gut wie ausgeschlossen. Wie kam es dazu? Schon vor dem Zinsentscheid der Europäischen Zentralbank vom letzten Donnerstag liess...