CHF Sliding Lower The main market focus over the last two weeks has been the July ECB and FOMC meetings. However, aside from these two meetings there has been an important development with the SNB who finally managed to loosen their monetary policy, making the Swiss Franc the only G10 currency to weaken against the US Dollar last week. Indeed, ...
SNB December 15th The Q4 SNB meeting on December 15th is widely expected to be a non-event with the bank remaining on hold and warning against excessive CHF strength. However, there are still opportunities around the meeting. Over the last eight SNB meetings, the market has paid out around 72bp cumulatively on concerns that more cuts are forthc...
After a wild move for the US Dollar yesterday, following positive economic releases, in addition to the Federal Reserve FOMC Meeting Minutes which increased the estimates for a possible rate hike in December meeting, the markets will take some rest during the US session, as the US banks will be closed in observance of Thanksgiving Day. However,...
Bailout talks between the leftwing government and foreign lenders fail to save the country from a default. Greece closed its banks and imposed capital controls (which are likely to last for months) on Sunday, while people will be able to withdraw only 60 euro limit cash per day (cash machines will reopen on Tuesday). After the PM Alexis Tripras ...
The German index DAX already feels suffocated by Greece’s problems, responding with irascibility at every rumor. Euro zone finance ministers ended their third meeting in a week without an agreement, while discussions were postponed to Saturday. A deal is still possible, the European leaders are saying, while the Greek side is still reluctant whe...
The Swiss Franc, Canadian dollar and American dollar were all affected by the weak reports of the GDP. Switzerland's real gross domestic product in the first quarter of 2015 fell by 0.2% because of the negative growth contributions delivered by the trade balance in goods and services and the slowdown reported on the production side. The Swiss Fr...
Negotiations between Greek officials and the euro zone colleagues in Riga on Friday have not yielded any result. Behind are lagging promises of staying in touch to reach a debt deal, to hold a teleconference today and a call on Wednesday to speed up negotiations. Maybe these are the hopes left for the Euro which is still holding above the suppor...
Markets were again the subject of movements that change the long-term trajectories which were previously set. The Swiss National Bank decided on Wednesday to drastically reduce the number of institutions exempt from negative rates on their cash deposits held at the central bank. Negative interest will now be applied to sight deposit accounts hel...
The EURCHF has been the sole forex pair that has well respected the Swiss National Bank's floor at 1.20. With the pair trading near the 1.201 handle, many traders will be keenly watching this level and the SNB's peg of 1.20 for any intervention by the Central Bank. To make matters a bit more complicated, the Swiss referendum, 'Save our Gold', an...
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