Follow @dorgang

Follow @snbchf

Category Archive: 1) SNB and CHF

Filter archive by: Show All Show only Articles Show only Videos

Trump Waterboarding

2015-11-24

by Tyler Durden

Dollar Recoups January Loss Against the Swiss Franc

2015-11-24

by Marc Chandler

2015-11-24

The US dollar recorded its high for the year against the Swiss franc on January 14 near CHF1.0240. It closed that day a little below CHF1.0190. The next day the Swiss National Bank surprised the world by lifting its cap against the euro. The ...

Read More »

Mastermind

2015-11-17

by Tyler Durden

FINMA и FinTech

2015-10-16

by FINMA News

Как Служба по контролю за финансовыми рынками Швейцарии относится к финансово-технологическим компаниям? Клод Жентиль, BrainServe Ltd. Вы можете посмотреть это видео и полный видео-архив на нашей Dukascopy TV странице: http://www.dukascopy.com/tv/ru/#166391 Watch Dukascopy TV in your language: https://www.youtube.com/user/dukascopytv 用您的语言观看杜高斯贝电视: http://www.youtube.com/user/dukascopytvchinese Miren Dukascopy TV en su idioma:...

Read More »

FINMA & FinTech

2015-10-09

by FINMA News

Wie positioniert sich FINMA bezüglich FinTech? Claude Gentile, BrainServe Ltd Sie können dieses Video und das gesamte Video Archive auf der Dukascopy TV Seite ansehen: http://www.dukascopy.com/tv/de/#166391 Watch Dukascopy TV in your language: https://www.youtube.com/user/dukascopytv Смотрите Dukascopy TV на вашем языке: http://www.youtube.com/user/dukascopytvrussian 用您的语言观看杜高斯贝电视: http://www.youtube.com/user/dukascopytvchinese Miren Dukascopy TV...

Read More »

Thomas Jordan – SNB-Präsident – Starker Franken und die Geldpolitik der SNB

2015-09-29

by Thomas Jordan

Prof. Dr. Thomas Jordan die Fäden unserer Geldpolitik fest in seiner Hand. Die Aufhebung des Mindestkurses zum Euro hat er als unumgänglich bezeichnet. Dass sich damit gewisse Engpässe für die Schweizer Wirtschaft – zumindest vorübergehend – ergeben haben, bestreitet er nicht, hält diesen Umstand aber in Anbetracht «der Kosten zur Verteidigung der Untergrenze, die in …

Read More »

The 2015 Update: Risks on the Rising SNB Money Supply

We explain the risks on the rising money supply in Switzerland. We distinguish between broad money supply (M1-M3) and narrow money supply (M0). Both are rising quickly.

Read More »

George Dorgan’s Critical Questions to the SNB (December 2014)

Marc Meyer argues that the Swiss National Bank must build up reserves, but this does not mean "foreign exchange reserves", but "Swiss Franc reserves". According to the constitution these reserves are owners' equity denominated in Swiss Franc and some gold. Thomas Jordan famous paper "Does the SNB need equity?" tries to overturn the constitution suggesting that the constitution accepts FX investments as "reserves". Russia builds up foreign...

Read More »

The Swiss National Bank: Switzerland’s central bank makes a massive loss

2015-08-01

by The Economist

2015-08-01

Swiss National Bank net income, Swiss Francs

ON FRIDAY, the Swiss National Bank (SNB), Switzerland’s central bank, reported second quarter losses of SFr20 billion ($20 billion). Following an equally bad first three months of the year, the SNB’s losses so far for 2015 now amount to a whopping SFr50.1 billion, equivalent to 7.5% of Switzerland's GDP.

Read More »

Lessons from History: The Volcker Moment and the First Cap on CHF

Julius Baer's Chief Economist Janwillem Acket argues that by publishing weekly sight deposits, the SNB is telling the market too much. George Dorgan responds that this hiding of economic data will need to happen also in trade data, in GDP data and even in the disclosure of Swiss company results. For Adam Button, this contradicts the people's desire of transparency.

Read More »

1) SNB

SNBCHF.com most important posts about the Swiss National Bank

Read More »

Tristan Fletcher and Izabella Kaminska – artificial intelligence in financial markets

2015-06-30

by Izabella Kaminska

Tristan Fletcher and Izabella Kaminska speaking at Playfair Capital’s Machine Intelligence 2015 event in London. Tristan Fletcher heads up the machine learning team at Thought Machine – a startup revolutionizing personal finance with AI. He’s an expert in applying state of the art machine learning techniques in the practical domain: from algorithmic trading, portfolio management, …

Read More »

Impressive Swiss Recovery After SNB Peg Removal

Retail data shows that the SNB peg removal in January 2015 as early as April 2015 with minimal adverse impact on the economy. Trade surplus showed that Switzerland had fully recovered its lost trade surplus in May and expectations crossed an important threshold into positive territory in June. CHF strengthened since May end, as the market caught wind of the Swiss recovery, and the Grexit would further strengthen the CHF if it were to occur.

Read More »

SNB interventions June 2015

2015-06-23

by George Dorgan

2015-06-23

Latest update for June 2015: The pace of SNB intervention is slowing. Sight deposits, the indicator for SNB interventions, rise by 0.5 billion francs per week. April and May: Sight deposits rise by 1.5 billion CHF per week. Thanks to this intervention the SNB is able to maintain the EUR/CHF around 1.0450.

Read More »

The Swiss economy: True to form

2015-06-18

by The Economist

2015-06-18

FOREIGN skiers were bound to suffer. So was the Swiss economy, most assumed, after the Swiss National Bank (SNB) suddenly abandoned the Swiss franc’s peg to the euro in January. The franc rose by 30% against the euro in a matter of minutes, and remains about 15% higher than it was. This made Swiss exports more expensive for foreigners, and foreign goods cheaper for the Swiss.

Read More »

Q1/2015: Swiss Real GDP Rises by 15 percent … in Euro Terms

George Dorgan shows that Gross Domestic Product (GDP) is a measurement in the local currency. Effectively, Swiss real GDP rose by 15% in Euro terms, but fell slightly in CHF. He also emphasizes that Switzerland needs a big rebalancing of its economy, away from exports towards consumption. The Swiss National Bank was right to remove the euro peg. The move towards consumption is only possible when the Swiss franc is stronger because consumers will...

Read More »

The two phases of CHF appreciation… and what is in between

We show the two phases or "two innings" of Swiss franc appreciation: The risk aversion phase and the high inflation phase. With the weakening of emerging markets and the strengthening of the United States in 2013/2014, the Swiss National Bank (SNB) had won the first battle in the war against financial market, the "risk aversion game", the first inning in two-part match. Risk aversion is lower because the United States recovered with weaker oil...

Read More »