Category Archive: 1) SNB and CHF

USD/CHF technical analysis: 0.9900/10 challenges recovery from 61.8 percent Fibo.

USD/CHF bounces off from a multi-week low. 38.2% Fibonacci retracement, late-September bottoms can question the recent upside. The USD/CHF pair’s latest recovery is less likely to prevail for long unless clearing near-term key resistance area. The quote seesaws around 0.9860 by the press time of the pre-European session on Monday.

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Weekly SNB Sight Deposits and Speculative Positions

Update August 26, 2019: One month of strong SNB interventions, around 10 bn CHF, not seen since April 2017.

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USD/CHF technical analysis: Greenback hits fresh October lows against the Swiss Franc

USD/CHF remains under heavy pressure after the London close. The level to beat for bears is the 0.9871 level. On the daily chart, USD/CHF is trading in a sideways trend, now challenging the 50 and 100-day simple moving averages (DSMAs) below the 0.9900 handle.  the near term. Resistances can be seen at the 0.9881

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USD/CHF technical analysis: 50-day SMA limits immediate upside amid bearish MACD

USD/CHF struggles around 38.2% Fibonacci retracement after declining to a three-week low. Bearish MACD favors further downpour to 0.9800/9795 support-zone. With its sustained trading below 50-day SMA, coupled with the bearish MACD, USD/CHF stays on the sellers’ radar even if it clings to 0.9880 during early Friday.

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USD/CHF technical analysis: Breaks below 0.9940 confluence support, turns vulnerable

The pair remains under some selling pressure for the second straight session. The ongoing slide dragged it below a two-month-old ascending trend-channel. Bears might now aim towards challenging the 0.9900 round-figure mark. The USD/CHF pair extended this week's rejection slide from the vicinity of the key parity mark and remained under some selling pressure for the second consecutive session.

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USD/CHF technical analysis: Intraday uptick falters just ahead of parity mark

Despite the intraday pullback, the pair has managed to hold above 200-DMA. The near-term technical set-up support prospects for some dip-buying interest. The USD/CHF pair failed to capitalize on its intraday positive move and faced rejection near the key parity mark, albeit has still managed to hold above the very important 200-day SMA.

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Gefährliche Scheingewinne bei PKs

Die Schweizer Pensionskassen halten rund 30% ihrer Anlagen in klassischen Obligationen. Die meisten dieser Anleihen weisen eine negative Rendite aus. Dies, weil die Kurse so stark gestiegen sind, dass sich auf deren hohem Niveau trotz positivem Coupon (Nominalzins) eine Rendite auf Verfall von unter null ergibt. Das heisst, dass die erwarteten Kursverluste die Zinserträge übersteigen.

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The CHF is the strongest, while the GBP is the weakest as NA traders enter for the day

Well...maybe some NA tradersThe US has a partial holiday with the bond market closed but the US stock markets open. Canada is off for Thanksgiving. So North American traders entering for the day, may be a little stretch today. However, the forex market is open. The CHF is the strongest as some of the euphoria from the events of last week (Brexit hope and China/US) fade and there is a flight into the safety of the CHF (and JPY).

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USD/CHF technical analysis: Buyers’ exhaustion around 0.9985/90

USD/CHF repeatedly fails to cross 0.9985/90 area. A two-month-old rising trend-line, 100-day EMA grabs sellers’ attention. Repeated failures to rise past-0.9985/90 resistance-area drags USD/CHF to 0.9965 by the press time of early Tuesday. The pair now witnesses pullback towards the two-month-old rising trend-line, at 0.9930, a break of which could further drag the quote to a 100-day Exponential Moving Average (EMA) level of 0.9910.

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USD/CHF technical analysis: Pivots around 200-day SMA, near mid-0.9900s

Continued with its struggle to extend the momentum beyond 200-DMA. Bears eye a decisive break below the ascending trend-channel support. Bulls are likely to await a sustained strength above the key parity mark. The USD/CHF pair failed to capitalize on last week's attempted rebound from a support marked by the lower end of a two-month-old ascending trend-channel and met with some fresh supply on Monday.

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USD/CHF technical analysis: Positive above 200-bar SMA, 0.9890/87 confluence

USD/CHF pulls back from 0.9990, 23.6% Fibonacci retracement on the sellers’ radar. 200-bar SMA, followed by rising multi-week-old rising trendline and 38.2% Fibonacci retracement, limit further declines. Despite witnessing a downside pressure off-late, the USD/CHF pair remains well above the key supports while taking rounds to 0.9960 amid pre-European open session on Monday.

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USD/CHF: Bulls have eyes on a break into the 1.000s in pursuit of channel resistance

USD/CHF has met a confluence of support as the US Dollar extends higher. Latest positioning data shows that CHF net shorts had been climbing for a third week. FOMC minutes at the top of the hour is next major risk. USD/CHF has met a confluence of support as the US Dollar extends higher on Wednesday ahead of the Federal Open Market Committee's Minutes today and US consumer Price Index tomorrow. 

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Nationalbank und SIX kooperieren bei digitalem Zentralbankgeld

Im Kontext des neu gegründeten BIZ-Innovation-Hub-Zentrum in der Schweiz kooperieren die SNB und SIX bei einer Machbarkeitsstudie für digitales Zentralbankgeld. (Bild: Pixabay)Die Schweizerische Nationalbank (SNB) und die Bank für Internationalen Zahlungsausgleich (BIZ) haben am Dienstag eine operative Vereinbarung zum BIZ-Innovation-Hub-Zentrum in der Schweiz unterzeichnet.

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SNB and BIS sign Operational Agreement on BIS Innovation Hub Centre in Switzerland

The Swiss National Bank (SNB) and the Bank for International Settlements (BIS) have today signed an Operational Agreement on the BIS Innovation Hub Centre in Switzerland. The Hub will identify and develop in-depth insights into critical trends in technology affecting central banking, develop public goods in the technology space geared towards improving the functioning of the global financial system, and serve as a focal point for a network of...

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BIS Innovation Hub Centre in Switzerland

From the SNB’s press release regarding the newly established BIS Innovation Hub Centre in Switzerland: The Swiss Centre will initially conduct research on two projects. The first of these will examine the integration of digital central bank money into a distributed ledger technology infrastructure. This new form of digital central bank money would be aimed at facilitating the settlement of tokenised assets between financial institutions.

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SNB to cut rates in early 2020 as global economy sours – UBS

In the latest note to the clients, the UBS Economist Alessandro Bee indicated that he sees the Swiss National Bank (SNB) cutting interest rates next year. “Both the European Central Bank and the Federal Reserve to “react to recession risks” with more rate cuts.

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USD/CHF technical analysis: Downside limited by nearby rising trendline, 0.9937/35 confluence

USD/CHF seesaws around 23.6% Fibonacci retracement after witnessing multiple failures to cross 1.0030. A nine-day-old rising trend-line, followed by a confluence of 200-HMA/50% Fibonacci retracement limits near-term declines. Despite witnessing pullbacks from 1.0030, USD/CHF is yet to slip beneath key supports as it clings to 0.9985 during early Friday.

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AUD/CHF Technical Analysis: Bears seeking a break to channel bottoms, below 61.8 percent Fibo

Bulls target risk back to the top of the channel and recent highs of 0.6750. Bears seek a break of trendline support and a resumption of the downside within the bearish channel. AUD/CHF has been resilient against the odds, considering the risk-off tone in markets were otherwise, the CHF usually performs.

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USD/CHF capped again by 1.0025, retreats below parity

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.

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USD/CHF technical analysis: Bulls await upside break of 61.8 percent Fibo.

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.

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