Stress Tests May Add to Swiss Bank Intervention Losses
The Swiss National Bank’s intervention efforts aimed at weakening the franc relative to the euro has resulted in $13.3 billion dollars in losses. However, the real pain may still await the central bank ahead of the eurozone’s stress test results slated for Friday release. Unlike other central banks, the SNB issues shares and is publicly… Continue Reading
Hildebrand: SNB Policy to Weaken Franc Remains; Rate Hike Will Come
The Swiss National Bank will continue to counter “excessive” gains in the franc against the euro in light of the ongoing debt crisis in the eurozone, according to SNB President Philipp Hildebrand. In the SNB’s annual shareholder meeting today, Mr. Hildebrand was generally upbeat on the Swiss economy, though he warned that excessive gains for… Continue Reading
Deutsche Bank: EUR/CHF May Reach 1.3750; SNB a Tempered Threat
Fiscal strains and low inflation in the eurozone should counteract SNB interventions, pushing the EUR/CHF as low as 1.3750, according to Deutsche Bank. Henrik Gullberg, an analyst at the firm, considers any SNB resistance to a strengthening franc a futile venture. In a research note, Mr. Gullberg wrote, “European deficit concerns are supportive for the… Continue Reading
En Route to Athens: Where Greek Debt Ends and the Eurozone Crisis Begins
With the next chapter of the Greek debt crisis soon to unfold in Athens, Greece, investor confidence in the eurozone is far from restored. Ahead of Friday’s revelation of SEC charges in the Goldman Sachs’ scandal, the euro was headed toward further declines while Greek bonds had been trading lower for the fourth consecutive day…. Continue Reading
Forex Playbook: April 18-24
Overview Investors are in for a bumpy ride in the coming week of trading, as the fallout from the fraud charges against Goldman Sachs has only just begun. As more details become available in the coming days, investors should not be surprised to learn of other Wall Street banks that may be facing similar charges… Continue Reading
Daily Forex Signal: Buy USD/CHF
Please visit the forum to view today’s Forex signal on the USD/CHF. To view the signal, you must be a free registered member of Forex Playbook. Please login or register for free.
US Dollar Continues Lower as SNB Loooms
The US dollar is weak across the board today, the yen excepted, as a second round of selloffs has pushed the greenback to its lowest levels of the session. The GBP/USD is trading at (approx.) 1.5485, its highest level since February 18, 2010. Poised to make good on its double-bottom formation, the GBP/USD may reach… Continue Reading
Daily Forex Signal: Buy USD/CHF
Please visit the forum to view today’s Forex signal on the USD/CHF. To view the signal, you must be a free registered member of Forex Playbook. Please login or register for free.
SNB Intervenes in EUR/CHF, Again
It appears as though the SNB is again speculating in the currencies market; they are suspected of intervening in the EUR/CHF for a second time this month. The EUR/CHF reached a high of 1.4395 following the suspected move by the SNB, marking the franc’s lowest point against the euro since the April 1 intervention. Ian… Continue Reading
Barclays: EUR/CHF Heading Lower Despite SNB Activities
Barclays Capital sees the euro declining further against the Swiss franc despite SNB intervention efforts. Barclays analysts wrote that “despite the actions of the central bank last week, the euro/franc remains in a clear downtrend. The absence of a market-generated recovery makes us reluctant to assume the downtrend is over.” The analysts predict that the… Continue Reading
