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Category Archive: 1) SNB and CHF

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The Swiss Franc: The World’s Most Perplexing Currency?

2017-03-23

by LongShort Investments

2017-03-23

Swiss policymakers consider their domestic currency (the franc, or CHF) to be significantly overvalued. Measures taken by the Swiss National Bank seem to corroborate this stance, holding its nominal overnight rates well into negative territory. Considering where the Fed and ECB are in their policy cycles and where the SNB is in its cycle, the USD and EUR are likely to appreciate against the CHF.

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New calculation of SNB exchange rate indices

2017-03-22

by SNB

2017-03-22

Change to a more comprehensive and up-to-date methodology. The Swiss National Bank (SNB) is putting the Swiss franc exchange rate indices it calculates and publishes on a new footing. The adjustment allows the Swiss economy’s competitive and trading relationships to be replicated in a more comprehensive and up-to-date way. The new indices, too, show that the Swiss franc is significantly overvalued.

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North Korea Propaganda

2017-03-21

by Tyler Durden

Comey – No Wiretap

2017-03-20

by Tyler Durden

Comey

2017-03-20

by Tyler Durden

Weekly Sight Deposits and Speculative Positions: EUR/CHF suddenly higher after ECB

2017-03-20

by George Dorgan

2017-03-20

The EUR/CHF suddenly appreciated with the ECB meeting, when Draghi seemed less dovish than before. The rate rose from the previous 1.0650 to over 1.0750. With the SNB meeting, the EUR/CHF receded again. SNB interventions, are currently at 2 bn. per week compared to 5 bn. before Draghi.

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The Swiss Franc Hits its Lowest Since December

2017-03-17

by Investec

2017-03-17

According to some experts, the weaker franc can be partly explained by the market activities of the Swiss National Bank (SNB). The cantonal bank of Thurgau said that the SNB appeared to be targeting a weaker franc ahead of the Dutch elections on Wednesday. Adding that they think an exchange rate of around 1.085 against the euro is possible.

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SNB Monetary Policy Assessment March 2017: EUR/CHF lower again

2017-03-16

by George Dorgan

2017-03-16

Conditional Inflation Forecast, March 2017

The EUR/CHF collapsed after the monetary assessment meeting of the Swiss National Bank. The SNB did not fulfill the wishes of currency traders with a more dovish policy, i.e. with lower rates or the thread of stronger interventions.

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Weekly Sight Deposits and Speculative Positions: EUR/CHF suddenly higher after ECB

2017-03-13

by George Dorgan

2017-03-13

The SNB intervened less than before. Investors might have changed their positions after a less dovish ECB.

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NY Beating

2017-03-11

by Tyler Durden

Are Central Banks Losing Control?

2017-03-11

by Charles Hugh Smith

2017-03-11

If you want a central banker to choke on his croissant, read him this quote from socio-historian Immanuel Wallerstein: "Countries (have lost the ability) to control what happens to them in the ongoing life of the modern world-system."

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Switzerland ranked world’s worst currency manipulator

2017-03-07

by Investec

2017-03-07

The Economist magazine placed Switzerland first in a recent ranking of currency manipulators. According to the analysis, China, commonly thought of as the world’s champion at keeping its currency’s value artificially low, appears to be doing the opposite: actively trying to push the value of its currency up. On the other hand, Switzerland that has been working hardest to artificially devalue its money.

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Swiss National Bank Results 2016 and Comments

2017-03-06

by George Dorgan

2017-03-06

The Swiss National Bank (SNB) reports a profit of CHF 24.5 billion for the year 2016 (2015: loss of CHF 23.3 billion). The profit on foreign currency positions amounted to CHF 19.4 billion. A valuation gain of CHF 3.9 billion was recorded on gold holdings. The profit on Swiss franc positions was CHF 1.6 billion.

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Weekly Sight Deposits and Speculative Positions: Each week an intervention record.

2017-03-06

by George Dorgan

2017-03-06

Once again a massive SNB intervention and a post Trump election record: 5,1 billion, at far too expensive FX rates: EUR rate of 1.0648 and USD/CHF over parity.

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China Wage Growth

2017-02-27

by Tyler Durden

It Is Time To Short The Swiss National Bank!

2017-02-27

by Felk

2017-02-27

The current Article will take a closer look to the incredible rise of the Swiss National Bank stock and suggest why taking a short position could be the right trade at this level. The Swiss Central Bank: Mandate and Monetary Policy. According to the Swiss Federal Constitution (Art. 99) the Swiss Central Bank is an independent institution with the mandate to conduct the monetary policy in Switzerland by ensuring price stability, while taking into...

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Each Week the Same: Another SNB Intervention Record

2017-02-27

by George Dorgan

2017-02-27

Once again: another record in SNB intervention record for the period after Trump's election: an increase of 4.7 billion CHF in sight deposits. The trend for EUR/CHF versus parity getting confirmed.

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Video: The Swiss National Bank Is Acting Like A Hedge Fund

2017-02-26

by EconMatters

2017-02-26

We discuss the fact that Central Banks have basically morphed into Hedge Funds with similar risky investing strategies, except they buy without any regard to the underlying fundamentals of the assets they are buying. When did the Swiss Citizens say it was the proper role for the Swiss National Bank to be buying US Stocks? How is this stimulating the Swiss Economy?

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Video: Interest Rate Differentials Increasing Financial Market Leverage To Unsustainable Levels

2017-02-25

by EconMatters

2017-02-25

We discuss the rate differentials between Switzerland, Britain, Europe, Japan and the United States and how this Developed Financial Markets carry trade is incentivizing excessive risk taking with tremendous leverage and destabilizing the entire financial system in the process in this video.

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