Category Archive: 1) SNB and CHF

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USD/CHF holds losses after soft US labor market data

2024-09-06

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2024-09-06

Pair bottomed at a low of 0.8375 and then recovered above 0.8400 but holds daily losses. US August NFPs came in lower than expected, following this weak labor market data trend. Investors might bet on a bigger cut in September from the Fed. On Friday, the USD/CHF fell to a daily low of 0.8375 and then recovered back above 0.8400. The upside, however, is limited as the US reported weak labor market figures. The US Dollar’s appeal diminished after...

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Inflation im August sinkt stärker als erwartet – Ökonomen sehen Nationalbank gefordert

2024-09-03

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2024-09-03

Inflation unter Kontrolle Seit Anfang Jahr schwankt die hiesige Inflation nun im Bereich von 1,0 bis 1,4 Prozent, davor war sie im August 2022 bis auf einen Höchstwert von 3,5 Prozent gestiegen. Im Vergleich zum Ausland steht die Schweiz weiterhin besser da, allerdings sind die Unterschiede zuletzt deutlich geringer geworden.

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SNB Sight Deposits: decreased by 6.9 billion francs compared to the previous week

SNB Sight Deposits vs. EUR/CHF
The sight deposits at the SNB decreased by 6.9 billion francs compared to the previous week.

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SNB’s Jordan: Price stability is a crucial precondition for growth and prosperity

2024-08-30

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2024-08-30

The Swiss National Bank (SNB) Chairman Thomas Jordan on Thursday acknowledged difficulties that the strong Swiss Franc is causing for Swiss industry, which is already dealing with weaker demand from other European countries, per Reuters.   Key quotes The mandate of the SNB is to maintain price stability—a crucial precondition for society and a good functioning economy. Price stability is a crucial precondition for prosperity.Germany and Europe...

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Ukraine closely watches Belarus border as troops amass

2024-08-30

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2024-08-30

Russia carried out several air attacks on Ukraine this week, costing Moscow an estimated £1.1 billion. Meanwhile, Ukraine has warned it is closely watching on its border with Belarus after a recent buildup of troops there, according to Sky News.  Last week, Kyiv's foreign ministry accused Minsk of concentrating a "significant number of personnel" in the Gomel area near Ukraine's northern border "under the guise of exercises." ...

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USD/CHF tumbles below 0.8600 as US Dollar weakens further

2024-08-20

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2024-08-20

USD/CHF slides below 0.8600 amid weakness in the US Dollar. Investors want to know how much the Fed will reduce interest rates in September. Market participants should brace for high volatility amid an eventful US week. The USD/CHF pair faces an intense sell-off and slides below the round-level support of 0.8600 in Tuesday’s North American session. The Swiss Franc asset plummets as the US Dollar (USD) has declined to a multi-month low as...

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Forex Today: Fedspeak and Canada inflation data to grab market attention

2024-08-20

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2024-08-20

Here is what you need to know on Tuesday, August 20: Major currency pairs seem to have stabilized in the European morning on Tuesday as investors await the next catalyst. Eurostat will release revisions to July inflation data later in the session and Statistics Canada will publish Consumer Price Index data for July later in the day. Market participants will also pay close attention to comments from Federal Reserve (Fed) officials. After starting...

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GBP/JPY gains traction above 191.00 amid softer Japanese Yen

2024-08-20

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2024-08-20

GBP/JPY drifts higher to 191.20 in Tuesday’s early Asian session, up 0.40% on the day.  The improved risk sentiment weighs on the safe-haven currency like the JPY.  The BoE is expected to keep the rate steady at 5.0% at its September meeting. The GBP/JPY cross recovers to near 191.20, snapping the two-day, losing streak during the early European session on Tuesday. The sell-off of the Japanese Yen (JPY) broadly provides some support to the cross....

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USD/CHF holds below 0.8650 amid broad US Dollar weakness

2024-08-20

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2024-08-20

USD/CHF loses ground near 0.8620 in Tuesday’s early Asian session. The expectation of three quarter-point rate cuts this year weighs on the USD.  Easing geopolitical risks in the Middle East could cap the pair’s downside.  The USD/CHF pair trades in negative territory for the third consecutive day around 0.8620 on Tuesday during the early European trading hours. The weaker US Dollar (USD) amid rate-cut expectation by the Federal Reserve (Fed)...

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Hamas rejects the latest US proposal for Gaza hostage and ceasefire deal

2024-08-19

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2024-08-19

On Sunday, Hamas published an official statement rejecting the terms for a hostage release-ceasefire deal which were discussed in Doha on Thursday and Friday, blaming Prime Minister Benjamin Netanyahu for putting up new obstacles in the talks. Per the local news agency Times of IsraelNetanyahu is to host visiting US Secretary of State Antony Blinken on Monday. Blinken is then set to fly to Cairo, where talks on a deal are ongoing. The US has said...

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USD/CHF weakens below 0.8750 on risk-on mood, softer US Dollar

2024-08-16

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2024-08-16

USD/CHF drifts lower to near 0.8715 in Friday’s early Asian session.  US July Retail Sales came in better than expected in July, lifting the Greenback.  The renewed fear of geopolitical tension in the Middle East could support the CHF.  The USD/CHF pair trades on a softer note near 0.8715 during the early European session on Friday. The pair edges lower on the back of the softer US Dollar (USD).  Meanwhile, the USD Index (DXY), a measure of the...

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Gold price remains on the defensive amid repositioning ahead of the US CPI data release

2024-08-14

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2024-08-14

Gold price trades with modest losses for the second straight day amid a positive risk tone.  Geopolitical risks, bets for bigger Fed rate cuts and subdued USD demand to lend support. Traders might also prefer to wait for the release of the crucial US consumer inflation data.  Gold price (XAU/USD) attracts fresh sellers following an Asian session uptick to the $2,472-2,473 area and turns lower for the second successive day on Wednesday. A...

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USD/JPY edges higher in a familiar range, retakes 147.00 mark amid risk-on mood

2024-08-14

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2024-08-14

USD/JPY regains positive traction on Tuesday, albeit the uptick lacks bullish conviction.  A positive risk tone undermines the safe-haven JPY and lends some support to the pair. Bets for bigger Fed rate cuts weigh on the USD and should cap gains ahead of the US CPI. The USD/JPY pair attracts some dip-buying during the Asia session on Wednesday and climbs back above the 147.00 mark in the last hour, reversing the previous day's modest downfall....

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USD/CHF approaches 0.8700 with US Inflation on horizon

2024-08-13

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2024-08-13

USD/CHF marches toward 0.8700 as safe-haven flows to the Swiss Franc have diminished. Investors divide over the size of Fed’s interest-rate cuts in September. Investors await the US PPI and CPI data for July, which will be published at 12:30 GMT and Wednesday, respectively. The USD/CHF pair gains to near 0.8675 in Tuesday’s European session. The Swiss Franc asset strengthens as the appeal of the Swiss Franc as a safe-haven asset diminishes due to...

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Gold price ticks lower amid positive risk tone and some repositioning ahead of US inflation

2024-08-13

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2024-08-13

Gold price pulls back from the vicinity of the monthly peak retested earlier this Tuesday. Bulls opt to lighten their bets amid a positive risk tone and ahead of the US inflation data. Geopolitical risks and bets for a 50-bps rate cut by the Fed should help limit the downside. Gold price (XAU/USD) attracts some sellers following an Asian session uptick back closer to the monthly peak and erodes a part of the previous day's strong gains of more...

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EUR/CHF: Spread compression to weigh – ING

2024-08-12

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2024-08-12

It looks like G10 policy rates (ex-Japan) are going lower, ING’s FX analysts Francesco Pesole and Chris Turner note. EUR/CHF may struggle to stay above 0.95 “We are looking for at least another 125bp of ECB easing into next summer, if not 175bp. Switzerland is closer to the zero-bound constraint, however, and markets are reluctant to price the Swiss National Bank policy rate below 0.50% - just 75bp lower from current levels. Spread compression...

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CHF gains extend its overvaluation towards the Aug 2011 record high – DBS

2024-08-08

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2024-08-08

Even as speculative unwinds look largely done, rising geopolitical tensions in the Middle East and Russia should be watched as it could bolster safe haven demand for CHF and JPY, DBS FX & Credit Strategist Chang Wei Liang notes. SNB introduces a floor for EUR/CHF “Egypt’s aviation ministry instructed all airlines to avoid Iran airspace due to military drills, while Ukraine staged a surprise military incursion into Russia. We are cautious that...

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USD/CHF attracts some sellers below 0.8600 as geopolitical risks draw investors to safe-haven Swiss Franc

2024-08-08

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2024-08-08

USD/CHF loses traction around 0.8590 in Thursday’s early European session, down 0.30% on the day.  The US Fed is expected to cut rates more aggressively beginning in September. Strong safe-haven demand benefits the Swiss Franc against the Greenback.  The USD/CHF pair drifts lower to near 0.8590 during the early European session on Thursday. The Swiss Franc (CHF) gains traction from the unwinding of carry trades and escalating geopolitical...

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US Dollar set for second day of gains while volatility declines and market woes fade

2024-08-07

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2024-08-07

The US Dollar recovers for a second day in a row this week.  The BoJ dropped mixed messages on its monetary policy.  The US Dollar index pops above 103.00 and rallies higher on Wednesday.  The US Dollar (USD) recovers as all asset classes start to head back to more normal levels. Equities are behaving quite well and are stable, volatility is easing, and safe havens such as Japanese Yen (JPY) and Swiss Franc (CHF) are easing further against the...

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Pound Sterling slumps to near 1.2700 on global risk-aversion

2024-08-06

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2024-08-06

The Pound Sterling falls against the US Dollar below 1.2700 amid weak appeal for risk-sensitive currencies.

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