Tag Archive: SNB sight deposits

Weekly SNB Interventions and Speculative Positions: After French Elections

2017-05-10

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2017-05-10

SNB Sight Deposite, May 08
The centre-left politician Macron has won the French elections. His success moved the EUR/CHF up to 1.0960, mostly caused by FX speculators. But serious investors - i.e. not FX speculators - did not follow the political event. The SNB had to intervene for 1.6 bn francs.

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Weekly SNB Interventions and Speculative Positions: Interventions despite Positive Outcome in France

2017-05-03

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2017-05-03

SNB Sight Deposite, May 02
The centre-left politician Macron has won the French elections. He is a politician that - similar to Hollande four years ago - promises economic improvements, move investment, more jobs. Mostly probably he will fail similar to Hollande. His success moved the EUR/CHF up to 1.0865, mostly caused by FX speculators, but the SNB had to intervene.

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SNB posts 7.9 billion CHF Profit in Q1

2017-04-27

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2017-04-27

SNB Results in the first 1 Quarters 2017: +2.2 billion CHF
The SNB reports a profit of 7.9 bn CHF, of which 2.2 bn come from the gold holdings. Given that the bank has introduced a "minimum euro rate" around 1.06-1.07, this is not very difficult. It comes at the price of continuing interventions.

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Weekly SNB Interventions and Speculative Positions: Back to 2.4 bn Intervention per Week

2017-04-10

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2017-04-10

SNB Sight Deposite, April 10
SNB sight deposits changed by 2.4 bn last week, hence the SNB intervened for this amount. This value is a movement back to the weekly intervention trend. We expect a further downtrend of EUR/CHF in the next 2 years.

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Weekly Sight Deposits and Speculative Positions: SNB interventions are rising again

2017-04-03

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2017-04-03

SNB Sight Deposite, April 03
The SNB intervenes for 1.6 bn CHF at EUR/CHF 1.07 - 1.0750. This is less than previously.

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Weekly Sight Deposits and Speculative Positions: SNB interventions are rising again

2017-03-28

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2017-03-28

SNB Sight Deposite, March 27
The SNB intervenes for 2.9 bn CHF at EUR/CHF 1.07. For us, clearly too much and too risky; she will not maintain this pace over a longer term. Hence the EUR/CHF is prone to fall again.

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

2017-03-20

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2017-03-20

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

2017-03-13

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2017-03-13

Sight deposits March 13 2017
The SNB intervened less than before. Investors might have changed their positions after a less dovish ECB.

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Swiss National Bank Results 2016 and Comments

2017-03-06

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2017-03-06

SNB Results Longterm 2016
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

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2017-03-06

Sight deposits March 06 2017
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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It Is Time To Short The Swiss National Bank!

2017-02-27

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2017-02-27

SNB Balance Sheet 2009 - 2016
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

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2017-02-27

Sight deposits February 27 2017
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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Weekly Sight Deposits and Speculative Positions: Once again a new SNB intervention record

2017-02-20

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2017-02-20

Sight deposits February 20 2017
Once again a massive SNB intervention and a post Trump election record: 4.5 billion CHF at a EUR rate of 1.0648.

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Weekly Sight Deposits and Speculative Positions: Another Post-Trump SNB Intervention Record

2017-02-13

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2017-02-13

Sight deposits February 13 2017
A big Swiss bank bets on EUR/CHF 1.10 as soon as the ECB ends their bond buying program. But one should realize that private investors will need to buy the EUR at 1.10, but the SNB is not willing to do so any more. Hence we must see SNB interventions of zero, before EUR/CHF goes to 1.10.

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Weekly Sight Deposits and Speculative Positions: SNB Intervenes for 2.4 bn CHF, while Speculators increase CHF Shorts

2017-02-06

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2017-02-06

Sight deposits February 06 2017
SNB intervenes for 2.4 bn CHF, while speculators increase their CHF shorts to 17K.

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Weekly Sight Deposits and Speculative Positions: Strong Swiss Trade Balance: SNB allows EUR/CHF to 1.0680

2017-01-30

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2017-01-30

Sight deposits January 30 2017
With the strong Swiss trade balance, the SNB let EUR/CHF fall to 1.0680. SNB intervenes for 0.5 bn CHF. Speculators are net short CHF with 13.6K contracts against USD, nearly unchanged.

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Weekly Sight Deposits and Speculative Positions: Weaker dollar let SNB accumulates losses

2017-01-23

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2017-01-23

EUR/CHF is slightly above the “in-official minimum band”. The weaker dollar leads to bigger SNB losses in January. SNB intervenes for 0.9 bn at higher EUR/CHF rate. Speculators are net short CHF with 13.7K contracts against USD.

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Weekly Sight Deposits and Speculative Positions: Stronger SNB interventions at more expensive EUR

2017-01-16

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2017-01-16

EUR/CHF slightly above the “in-official minimum band” of 1.0680 – 1.07. SNB intervenes for 1.7 bn at higher EUR/CHF rate. Speculators are net short CHF with 14K contracts against USD.

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SNB announces 24 bn CHF profit for 2016 thanks to rising stock markets.

2017-01-09

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2017-01-09

2016 Profit and Loss Swiss National SNB, US Dollar, Canadian Dollar, Japanese Yen, British Pound, FX rates for USD, JPY, EUR, GBP in 2016 with base currency CHF
The Swiss National Bank has announced 24 bn profits from 2016. Profits came from the dollar, yen and Canadian dollar, while the pound retreated by 15%. The EUR/CHF is only slightly weaker, mostly because the SNB actively supported the euro.

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Weekly Sight Deposits and Speculative Positions: SNB Intervenes, Speculators Short CHF again

2017-01-09

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2017-01-09

Euro/Swiss Franc FX Cross Rate, January 09
EUR/CHF at the "in-official minimum band" of 1.0680 to 1.07. SNB intervenes for 0.7 bn CHF to keep the euro slightly over 1.07. Speculators are net short CHF with 13K contracts against USD, 3K more than last week. This is still far from the post financial crisis record of 26 K contracts. Moreover the net short GBP are increasing again.

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