Tag Archives: SNB interventions

Update January 10, 2021:  Sight Deposits have risen by +1.9 bn CHF, this means that the SNB is intervening and buying Euros and Dollars. We had finally arrived in the inflation scenario I was speaking about before. Inflation is the period, when both the Swiss franc and gold must go up. BUT : U.S. CPI is at 5%, at the highest value since the year 1990 (excluding one outlayer in Summer 2008). But European inflation has gone down to 1.9%., In...

Update September 20 2021: SNB Selling Dollars and Euros Sight Deposits have fallen: The change is -0.2 bn. compared to last week, this means the SNB is selling euros and dollars. We had finally arrived in the inflation scenario I was speaking about before. Inflation is the period, when both the Swiss franc and gold must go up. BUT : U.S. CPI is at 5%, at the highest value since the year 1990 (excluding one outlayer in Summer 2008). But European...

Update March 29 2021: SNB selling euros and dollars Sight Deposits have fallen: The change is -0.2 bn. compared to last week, this means the SNB is selling euros and dollars. Speculative Positioning: Speculators are long CHF against USD. Since March 13, they have shifted to a long EUR position against USD. The following shows the recent developments. Sight Deposits, i.e. SNB interventions FX rates Speculative positions CHF: Since April, speculators...

SNB interventions During the Brexit turmoil on Friday, the Swiss National Bank has intervened in markets. Just after they got into the office, at 7.45 am CET, they started the interventions. Apparently the Singapore office did not have a mandate to do interventions. The central bank drove the EUR/CHF price from a low of 1.0646 towards 1.08. FX traders might have moved it higher to 1.0850. We do not think that the...