Category Archive: 1) SNB and CHF

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SNB Sight Deposits: decreased by 2.4 billion francs compared to the previous week

SNB Sight Deposits vs. EUR/CHF
The sight deposits at the SNB decreased by 2.4 billion francs compared to the previous week.

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USD/CHF aims to revisit 0.8950 as SNB to cut rates further

2024-12-13

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2024-12-13

USD/CHF strives to reclaim an almost five-month high of 0.8960 amid weakness in the Swiss Franc (CHF). The SNB unexpectedly cuts its interest rates by 50 bps to 0.5% on Thursday. Investors expect the Fed to reduce its key borrowing rates by 25 bps on Wednesday. The USD/CHF pair aims to revisit a five-month high of 0.8960 in Friday’s North American session. The Swiss Franc pair ticks higher as the outlook of the Swiss currency has weakened across...

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Gold finds some support at $2,660, with upside attempts limited

2024-12-13

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2024-12-13

Gold pares previous gains and retreats below $2,700 weighed by higher US yields. The divergence between the Federal Reserve and the rest of the major central banks is supporting the USD. XAU/USD is under growing negative pressure, aiming for $2,660.  Gold (XAU/USD) is showing mild recovery from session lows at $2660, on Friday’s early American session. The US Dollar (USD) index is going through a significant reversal from two-week highs, which...

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US Dollar tries to keep gains for a fourth straight day despite flat CPI

2024-12-11

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2024-12-11

The US Dollar sees earlier gains cut in half after inflation for November falls in line of expectations. Traders boost bets for a last rate cut next week from the Fed. The US Dollar Index (DXY) is trading around 106.50 and fails to jump higher.  The US Dollar (USD) is holding on to minor gains on Wednesday after the US Consumer Price Index (CPI) came broadly in line of expectations. No real outliers with the Monthly Headline Inflation coming in...

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Gold price retreats from over two-week top; bulls turn cautious ahead of US CPI

2024-12-11

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2024-12-11

Gold price advances to over a two-week high and draws support from a combination of factors. Geopolitical risks, trade war fears and rate cuts by major central banks underpin the XAU/USD. 

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Gold rallies higher, approaching $2,690 on higher demand for safe assets

2024-12-10

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2024-12-10

Gold rally maintains its positive momentum intact fuelled by buying from China and safe-haven flows.

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US Dollar gains ground on sour market sentimet after Donald’s Trumps threats to BRICS

2024-12-02

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2024-12-02

The US Dollar Index soars above 106.50 on Monday. DXY surges higher driven by Trump's warnings on tariffs against BRICS nations Strong November ISM manufacturing PMI helps the USD. The US Dollar Index (DXY), which measures the value of the USD against a basket of currencies, has surged above the 106.50 level on Monday, the first trading session in December. This move higher has been driven by several factors, including news that US...

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US Dollar rallies on Trump tariff threats against BRICS, French political turmoil

2024-12-02

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2024-12-02

The US Dollar has kicked off this week on the front foot after Donald Trump slapped BRICS with tariff. Focus shifts to Paris where this Monday, during European trading hours, French parliament is set to convene ahead of a vote for no-cofidence.  The US Dollar Index spikes back above 106.00, though it faces a key level ahead at 106.52. The US Dollar (USD) is rallying higher on Monday driven by two main drivers. First element is Donald Trump’s...

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EUR/CHF edges lower after release of deceptively-high Eurozone inflation, Swiss GDP

2024-11-29

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2024-11-29

EUR/CHF mildly falls on Friday as markets digest Eurozone HICP inflation data for November.  The Euro weakens as it does little to change the outlook for interest rates , a key driver of FX valuations.  CHF gains marginally on stronger GDP growth data but hamstrung by comments for the SNB’s President Schlegel.  EUR/CHF edges lower to trade on the 0.9300 handle on Friday after the release of Eurozone inflation data continues to suggest European...

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USD/CHF Price Forecast: Trades sideways below 0.8850

2024-11-21

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2024-11-21

USD/CHF trades in a tight range below 0.8850 as investors seek fresh Fed interest rate cues. Donald Trump’s economic agenda will be inflationary for the US economy. Investors await flash US S&P Global PMI for November and SNB Schlegel’s speech, which are scheduled for Friday.

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EUR/CHF: SNB policy rate can go negative again – ING

2024-11-21

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2024-11-21

EUR/CHF remains on the low near 0.93, ING’s Chris Turner notes. EUR/CHF to grind towards 0.92 “In August we had felt that EUR/CHF would stay offered for the rest of the year and recent events only add to that conviction.”

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Gold price weekly uptrend remains uninterrupted despite positive risk tone

2024-11-21

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2024-11-21

Gold price attracts buyers for the fourth consecutive day and climbs to over a one-week high. Geopolitical risks stemming from the Russia-Ukraine conflict benefit the safe-haven XAU/USD. Elevated US bond yields could underpin the US Dollar and cap the non-yielding yellow metal.

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CHF traders note – Two Swiss National Bank speakers due Thursday, November 21

2024-11-21

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2024-11-21

1730 GMT/1230 US Eastern time: Speech by member of the board of the Swiss National Bank Petra Tschudin and Thomas Moser, "The Swiss Repo Market: 25 Years of Success for the Financial Centre and the National Bank", Money Market EventPetra Tschudin is the a member of the Governing Board of the Swiss National Bankalso Head of Department III (Money Market and Foreign Exchange, Asset Management, Banking Operations and Information Technology, as well as...

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USD/CHF Price Forecast: Reaches overbought levels

2024-11-15

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2024-11-15

USD/CHF is in a strong uptrend which keeps making higher highs.  However it has reached overbought levels according to the RSI momentum indicator  This means bulls should be aware of the increased risk of pullbacks.  USD/CHF continues rising in its established uptrend but it has now reached overbought levels (above 70) according to the Relative Strength Index (RSI) momentum indicator. When this occurs it advises long-holders not to add to their...

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EUR/CHF Price Forecast: Attempting a bearish breakout from a Triangle pattern

2024-11-12

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2024-11-12

EUR/CHF is trying to break out of a Triangle pattern.  If it succeeds it will probably lead to further downside towards the price objective for the pattern. EUR/CHF is attempting to break out of a Triangle pattern it has formed over the last three months (see chart below). EUR/CHF Daily Chart A bearish close on Tuesday will indicate a decisive breakout has happened and suggest the start of a likely strong decline.  The market activity prior to...

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USD/CHF edges higher above 0.8700 amid renewed US Dollar demand

2024-11-08

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2024-11-08

USD/CHF gains ground to near 0.8730 in Friday’s early European session.  The Fed cut interest rates by a quarter point at the November meeting on Thursday.  The safe-haven flows could underpin the Swiss Franc.  The USD/CHF pair drifts higher to around 0.8730 during the early European session on Friday. The renewed Greenback demand provides some support to the pair. Traders brace for the advanced US Michigan Consumer Sentiment data for November...

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USD/CHF Price Prediction: Potential Bull Flag pattern forming

2024-11-07

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2024-11-07

USD/CHF might be developing a Bull Flag continuation pattern.  This suggests there will be an extension of the uptrend to upside targets higher.  USD/CHF – which looked as if it might be reversing trend and starting a new short-term downtrend at the start of the week – suddenly turned on a dime and spiked higher on Wednesday.  The pair rallied to a higher high, giving the established uptrend a shot in the arm. USD/CHF has since peaked and started...

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Forex Today: Markets remain on edge on US election day

2024-11-05

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2024-11-05

Here is what you need to know on Tuesday, November 5: Financial markets remain on edge as the US presidential election takes center stage, with latest polls pointing to a tight race. On Tuesday, the US economic calendar will feature Goods Trade Balance data for September and the ISM Services PMI report for October. Later in the day, the US Treasury will hold a 10-year note auction.  US Dollar PRICE This week The table below shows the...

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USD/CHF remains below 0.8650, market caution emerges ahead of US presidential election

2024-11-05

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2024-11-05

USD/CHF remains steady due to market caution amid increased uncertainty surrounding the US election results. Improved US Treasury yields could have provided support for the US Dollar. The continued slowdown in Swiss inflation has increased the likelihood of a bumper SNB rate cut in December. USD/CHF holds ground after registering losses in the previous session, trading around 0.8640 during the Asian hours on Tuesday. The US Dollar (USD) remains...

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USD/CHF dips toward 0.8650 as the US Dollar weakens amid lower Treasury yields

2024-11-04

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2024-11-04

USD/CHF depreciates as the US Dollar loses ground amid lower Treasury yields. The recent poll indicated that Kamala Harris and Donald Trump are locked in a close contest across seven battleground states. The 10-year Swiss bond yield falls toward 0.38% due to rising expectations of more aggressive rate cuts by the SNB. USD/CHF retraces its recent gains from the previous session, trading around 0.8650 during the European session on Monday. The US...

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