Category Archive: 1) SNB and CHF

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UBS: “Negative interest rates harm Swiss economy”

2019-11-07

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2019-11-07

A survey of Swiss companies commissioned by UBS bank concludes that negative interest rates are harming the wider economy. Switzerland’s largest bank, UBS, asked 2,500 companies about the impact of negative interest rates. “Nearly two-thirds of respondents said that the cost…for the economy outweighed their benefits overall,” UBS said in a press releaseexternal link on Thursday.

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USD/CHF technical analysis: Greenback hanging near the November highs against CHF

2019-11-07

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2019-11-07

USD/CHF daily chart
USD/CHF is trading flat on the day, consolidating the gains of the last two days. The level to beat for bulls is the 0.9940/0.9956 resistance zone. On the daily chart, USD/CHF is trading in a range below its 200-day simple moving average (DMA). The market is holding just above the 50 SMA today at the 0.9916 level. 

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Robinhood’s “Infinite Money Cheat Code” Gives Traders Access To Unlimited Funds

2019-11-06

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2019-11-06

If one is a central bank - such as the SNB and BOJ - life is easy: you just print as much money as you need out of thin air, and buy whatever you want, without regard for price. For those who are not central banks, having access to unlimited borrowed money may be the next best thing.

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Gretchen-Parlament: Für Thomas Jordan ein Segen

2019-11-04

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2019-11-04

„Gretchen-Parlament“ – diesen Ausdruck wählte ich in Anlehnung an die grüne Greta und ihre Jünger und Jüngerinnen europaweit. Kann von einem legalen Wahlkampf die Rede sein? Grüne Frauen wurden gewählt aufgrund sexueller Übervorteilung. Ich selber war Ständeratskandidat in Basel, wurde aber an keine einzige Podiumsdiskussion zugelassen. Women only.

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SNB’s Jordan: Without negative rates, CHF would be more attractive and rise in value

2019-11-01

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2019-11-01

In his prepared remarks delivered to pension managers on Thursday, Swiss National Bank Chairman Thomas Jordan said negative interest rates and readiness to intervene in the forex market was still essential to ease the pressure on the Swiss Franc.

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USD/CHF technical analysis: Greenback nearing the October lows, consolidating near 0.9870 level

2019-11-01

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2019-11-01

USD/CHF daily chart
USD/CHF is consolidating its losses this Thursday. The level to beat for bears is the 0.9855 support. On the daily chart, USD/CHF is trading in a range below its main daily simple moving averages (DSMAs). The market is approaching the October low, currently at the 0.9837 price level.

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The Swiss National Bank reports a profit of CHF 51.5 billion for the first three quarters of 2019

2019-10-31

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2019-10-31

Income statement, 1 January–30 September 2019
The Swiss National Bank reports a profit of CHF 51.5 billion for the first three quarters of 2019. The profit on foreign currency positions amounted to CHF 42.7 billion. A valuation gain of CHF 7.3 billion was recorded on gold holdings. The profit on Swiss franc positions was CHF 1.7 billion.

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SNB erzielt in den ersten 9 Monaten 2019 Gewinn von über 50 Milliarden Franken

2019-10-31

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2019-10-31

Insgesamt verdiente die Nationalbank in der Periode von Januar bis September 2019 51,5 Milliarden Franken, wie sie am Donnerstag mitteilte. Nach einem Plus von 38,5 Milliarden in der ersten Jahreshälfte kamen damit im dritten Jahresviertel nochmals 13,0 Milliarden dazu.

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EUR/CHF technical analysis: Bounces up from key support, eyes Oct. 17 high

2019-10-28

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2019-10-28

4-hour chart
EUR/CHF is looking north, having bounced up from key MA support. The 4-hour chart indicators are also reporting bullish conditions. EUR/CHF is better bid at 1.1030 press time and could challenge the Oct. 17 high of 1.1059 in the next 24 hours. 

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Swiss central bank makes 388 million from negative interest rates

2019-10-27

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2019-10-27

The Swiss National Bank (SNB), Switzerland’s central bank, has earned CHF 388 million from negative interest rates since introducing them in 2014 to tame the rising strength of the Swiss Franc, according to the newspaper SonntagsBlick.

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USD/CHF technical analysis: Jumps back closer to over 1-week tops

2019-10-26

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2019-10-26

USD/CHF 1-hourly chart
The intraday pullback finds decent support ahead of 0.9900 handle. Move beyond 0.9935 will set the stage for additional near-term gains. The USD/CHF pair did witness some intraday pullback but showed some resilience below 38.2% Fibonacci level of the 1.0028-0.9837 recent downfall. The pair managed to find decent support near 200-hour SMA and has now moved back closer to over one-week tops set earlier this Friday.

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USD/CHF rises to one-week highs at 0.9930

2019-10-25

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2019-10-25

More levels
US Dollar strengthens during the American session after US data. Swiss Franc fails to benefit from the demand for safe-haven assets. The USD/CHF pair rebounded at 0.9890 and climbed to 0.9930, the highest level since October 17. As of writing, trades at 0.9920, up almost 20 pips for the day, on its way to the fourth daily gain in-a-row. 

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2019-10-22 – Swiss National Bank opens SNB Forum for interested expert audience

2019-10-22

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2019-10-22

Today, the Swiss National Bank is opening the SNB Forum on the ground floor of its premises at Fraumünsterstrasse 8 in Zurich. This has been created as part of the mult i-yearrenovation of this building, and is open to the public.

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

2019-10-19

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2019-10-19

USD/CHF daily chart
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: Breaks below 0.9940 confluence support, turns vulnerable

2019-10-17

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2019-10-17

USD/CHF daily chart, June - November 2019
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

2019-10-17

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2019-10-17

USD/CHF daily chart, June - October 2019
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

2019-10-16

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2019-10-16

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

2019-10-16

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2019-10-16

Change for the Major Currency Pairs
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: Pivots around 200-day SMA, near mid-0.9900s

2019-10-15

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2019-10-15

USD/CHF daily chart, July-November 2019
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: Bulls have eyes on a break into the 1.000s in pursuit of channel resistance

2019-10-11

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2019-10-11

USD/CHF levels
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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