Saturday , January 25 2020
Home / Tag Archives: 1) SNB and CHF

Tag Archives: 1) SNB and CHF

SNB’s Jordan: Franc exchange rate is important in relation to Swiss monetary conditions

Comments by SNB chief, Thomas Jordan, to CNBC Thomas Jordan Negative rates are a necessity Negative rates have side effects, SNB trying to minimise those side effects Balance of risks is tilted to the downside SNB conducts independent monetary policy, does not follow the ECB But needs to take international environment into account SNB could still cut rates if needed Franc is still highly valued Must maintain negative rates, interventions SNB can intervene as...

Read More »

USD/CHF Price Analysis: MACD turns bearish for the first time in a week

USD/CHF extends recovery gains from the two-day low. Sellers await a downside break of 23.6% Fibonacci retracement. A monthly trend line will keep buyers away. USD/CHF takes rounds to 0.9683 during the pre-European session on Thursday. In doing so, the pair bounces off Tuesday’s low. However, the pair still remains below the monthly resistance line while the MACD flashes the bearish signals for the first time in a week, which in turn portrays the underlying weakness...

Read More »

SNB’s Maechler: SNB will not change policy after being put on watch list by US

Andrea Maechler Being put on the currency manipulation watchlist by the United States will not change the Swiss National Bank’s (SNB) monetary policy, SNB Governing Board member Andrea Maechler said on Wednesday, per Reuters. “The SNB is ready to intervene in FX markets if needed,” Maechler noted and added that the SNB will end negative interest rates as soon as they are able to. Market reaction The USD/CHF pair largely ignored these remarks and was last seen trading...

Read More »

Central Banks Zoom In on CBDC

According to a BIS press release, several leading central banks collaborate with the BIS on matters relating to the introduction of CBDC: The Bank of Canada, the Bank of England, the Bank of Japan, the European Central Bank, the Sveriges Riksbank and the Swiss National Bank, together with the Bank for International Settlements (BIS), have created a group to share experiences as they assess the potential cases for central bank digital currency (CBDC) in their home...

Read More »

USD/CHF Price Analysis: 21-day SMA, seven-week-old falling trendline question buyers

USD/CHF registers five-day winning streak, rises to a one-week high. A downside break of 0.9644 can refresh monthly lows. 38.2% Fibonacci retracement could lure buyers during further upside. USD/CHF takes the bids to 0.9700, following the intra-day high of 0.9702, while heading into the European session on Wednesday. The pair nears the key short-term resistance confluence including 21-day SMA 23.6% Fibonacci retracement of the pair November-January fall and a...

Read More »

UBS Tumbles After Biggest Swiss Bank Misses Key Targets As Investors Pull Money

The rift between the US (where rates are still positive) and European banks (where rates have never been more negative) continues to grow. While US banks have so far reported mostly better than expected results for Q4, the same can not be said for Europe, where UBS shares are down 5% as the bank misses fiscal year profitability and cost targets in addition to trimming its mid-term goals. As Saxobank notes, “UBS has been hit by wealth management outflows, negative...

Read More »

Central bank group to assess potential cases for central bank digital currencies

The Bank of Canada, the Bank of England, the Bank of Japan, the European Central Bank, the Sveriges Riksbank and the Swiss National Bank, together with the Bank for International Settlements (BIS), have created a group to share experiences as they assess the potential cases for central bank digital currency (CBDC) in their home jurisdictions. The group will assess CBDC use cases; economic, functional and technical design choices, including cross-border...

Read More »

USD/CHF consolidates in a range, below 0.9700 handle

USD/CHF consolidates Friday’s goodish intraday positive move. The prevalent cautious mood seemed to have capped the upside. The USD/CHF pair was seen oscillating in a narrow trading band below the 0.9700 mark on Monday and consolidated the previous session’s goodish positive move. A combination of supporting factors helped the pair to gain some follow-through positive traction for the second consecutive session on Friday and build on the previous session’s modest...

Read More »

CHF appears well placed to extend its advance in the near-term – MUFG

Analysts at MUFG Bank, point out that the Swiss franc has strengthened alongside the price of gold, perhaps reflecting debasement fears. They argue market participants are also questioning Swiss National Bank’s appetite for maintaining negative rates and intervening to dampen CHF strength. Key Quotes: “Market participants are also questioning whether the SNB will still has the same appetite to continue intervening in the FX market to dampen CHF strength. It follows...

Read More »

Zentralbank – SNB nach fünf Jahren Negativszinsen unter Druck

Die Schweizer Fahne weht vor dem Sitz der Schweizerischen Nationalbank (SNB) in Bern (26.4.2019). Bild: Bloomberg Fünf Jahre nach der turbulenten Abkehr der Schweiz von der Euro-Anbindung regt sich zunehmend Widerstand gegen die von den Währungshütern stattdessen ausgerufene ultra-lockere Geldpolitik. Seit die Schweizerische Nationalbank (SNB) am 15. Januar 2015 die zuvor mehrere Jahre durchgesetzte Euro-Kursuntergrenze von 1,20 Franken abrupt kippte, setzt die...

Read More »