EUR/CHF - Page 653. 20 minutes - Ces billets qui font le bonheur des cambrioleurs - Suisse. The data on Swiss trade in precious metals for January 2014 has been broken down by country for the first time in 30 years, report swissinfo.ch and vaterland.li.
It shows that Switzerland imports most of its gold, silver and precious coins from the UK, while its main export markets are in Asia. Total exports were over 5.3 billion euros in January, while imports were worth almost 6 billion euros. The press release by the Swiss Federal Customs Administration has the breakdown by country. source: based on Swiss Customs press release, exchange rate via oanda.com The data also shows that that trade in gold bars grew rapidly after around 2005, and that Switzerland now exports gold bars worth over CHF 100 billion a year.
Switzerland is ‘new China’ in currencies - FT.com. The Swiss economy is currently characterized by zero lower bound, deflation risk and negative yields.
Both on the money market as well as in the bond market the yields are largely below zero. Investors are paying Swiss government to hold their money. Monetary base has increased in Switzerland end of June to 273.9 billion CHF, an increase of 57.1 billion CHF compared to previous month. A year ago in June 2011 the monetary base was 74.6 billion CHF. It means an increase of 267.1% within 12 months. Swiss franc trading strategy. As we approach next month’s European Central Bank decision amid escalating probability for negative interest rates, the Swiss National Bank is closely monitoring the franc in the event of any unwanted decline in EURCHF, which could rag the pair back towards the 1.20 floor it set in September 2011.
Markets are widely expecting the ECB cut rates at its June 5 meeting, by reducing the refinancing rate by 15 bps to 0.10% and cutting the deposit rate by 10 bps to -0.10%. The marginal lending rate may also be cut by 25 bps to 0.50%. How do big shocks to the exchange rate affect stock prices?
We can look at two recent examples: the devaluation of the Japanese yen under the Kuroda regime shift and Jordan's de-pegging of the Swiss franc. As the Japanese yen has dropped, the Nikkei has soared. The end of an overlooked European currency war. Switzerland is ‘new China’ in currencies - FT.com. Blocher zur Frankenfreigabe: «Ich gehöre zu den Verlierern» - News - Schwei. Nationalbank plant Untergrenze für Euro-Franken-Kurs - Schweiz: Standard - Greek Tax Evader sur Twitter : "completely wrong understanding of Swiss balance of payments leads to conclusion that #CHF is a safe haven. This is BS. Move to curb Swiss franc’s rise backfires - FT.com. Switzerland’s soaring franc: Hard to get a grip - FT.com. Strength of Swiss Franc Roils Saint-Tropez and Other European Cities - WSJ. Municipal officials in the sunny Mediterranean resort of Saint-Tropez are in a cold sweat: The rush into the Swiss franc is creating a time bomb for city finances.
The hometown of actress Brigitte Bardot on the French Riviera has a €6.7 million ($9.6 million) loan on its books that carries an annual interest rate tied to the Swiss franc, according to Saint-Tropez officials. The rate currently is fixed at 3.94%. Starting in May 2012, however, the rate becomes variable and rises when the Swiss franc appreciates against the euro. Some officials in Saint-Tropez have calculated that, unless the Swiss franc falls off significantly from the peaks reached in recent days, the interest rate on the 20-year loan signed in 2007 would soar to 30%.
"This is devilish," says Verane Guérin, a member of the Saint-Tropez's municipal council, the city's parliament. Franc Options Foreshadow Gain, Denying Victory to Hildebrand - Bloomberg. Sept. 6 (Bloomberg) -- Philipp Hildebrand’s success in driving the franc to its lowest level in seven weeks may prove fleeting if options prices are any guide.
The Swiss National Bank president weakened the franc as much as 16 percent against the euro from its Aug. 9 record high by cutting borrowing costs to near zero and boosting supply in money markets six-fold. That hasn’t stopped analysts from predicting it will hold this year’s 13 percent gain against the 17-nation currency by year-end and raising forecasts. Traders drove an indicator of future demand to a record in August. Hildebrand’s past efforts to stem the franc’s advance, including 15 months of currency sales that contributed to the SNB’s record $21 billion loss last year, couldn’t stop it from outperforming 16 major peers since Europe’s debt crisis began in late 2009.
“The question is, can the SNB do enough to halt the appreciation of the Swiss franc?” Hedge Funds Plot Assault on Swiss Franc Ceiling. Hedge Funds Plot Assault on Swiss Franc Ceiling - WSJ.com. The Significance of Switzerland's Enormous Current-Account Surplus - Papers. Swiss Franc. Last week, the Wall Street Journal published an article entitled, “Currency Correlations Lose Their Way for Now.”
My response: It depends on which currencies you’re looking at. I, too, recently posted about the break-down of multi-year correlations, specifically involving the Australian Dollar and the New Zealand Dollar. However, one has to look no further than the Swiss Franc to see that in fact currency correlations are not only extant, but flourishing! Hardy on the "over-valued" Swiss franc. Swiss Franc Plunges By 600 Pips On Peg Speculation; Will It Succeed? The removal of the exchange rate floor on 15 January came as a shock to the whole world.
Although it was already clear at the time the exchange rate floor was introduced in September 2011 that it would be a temporary measure, many operators were proceeding on the assumption that the floor would remain in place for as long as inflation in Switzerland continued to be low and until after the eurozone crisis had ended. Due to the weak economic development in the eurozone, it could no longer be assumed that the franc would once again lose value against the euro, thus by itself rendering the exchange rate floor irrelevant. Theorie und Praxis der Kursuntergrenze: Was der SNB geblüht hätte - Wirtsch. The Swiss Franc Will Collapse. By Keith Weiner I have worked to keep this piece readable, and as brief as possible.
My grave diagnosis demands the evidence and reasoning to support it. One cannot explain the collapse of this currency with the conventional view. “They will print money to infinity,” may be popular but it’s not accurate. The Swiss Franc Will Collapse. The Swiss Franc Will Collapse I have worked to keep this piece readable, and as brief as possible.
My grave diagnosis demands the evidence and reasoning to support it. One cannot explain the collapse of this currency with the conventional view. SocGen Thinks CHF is the 'Next Safe Haven to Fall' The Swiss franc has become a 'safe haven asset' during the euro area's debt crisis, along with a number of other peripheral European currencies, especially the Scandinavian ones. Similar to the central banks in Scandinavian countries, the Swiss National Bank (SNB) thereupon instituted a major inflationary policy, including in this particular case not only 'ZIRP', but also the enforcement of a floor rate versus the euro, so as to avert 'deflation' and 'damage to the export industry' – in other words, the SNB decided to risk the value of its currency as well as the formation of a major asset bubble for misguided mercantilistic reasons.
Nevertheless, buyers continued to pile into the CHF (one wonders what they were thinking?) , thereby 'forcing' the SNB to continue to defend its peg by letting the printing press run 24/7. Zöllner stempeln 15,7 Mio Ausfuhrscheine ab: 11 Milliarden Franken fehlen i. Patriotisch – was soll das heissen?: Die Segnungen des Einkaufstourismus - Why did the Swiss break the peg of the franc? Paul Krugman writes: Two things to bear in mind.
First, having in effect thrown away its credibility – in today’s world, the crucial credibility central banks need involves, not willingness to take away the punch bowl, but willingness to keep pushing liquor on an abstemious crowd – it’s hard to see how the SNB can get it back. Second, there will be spillovers: the SNB’s wimp-out will make life harder for monetary policy in other countries, because it will leave markets skeptical about whether other supposed commitments to keep up unconventional policy will similarly prove time-limited. Vozpópuli - Luis Riestra - El franco y la excelencia macroeconómica suiza. Kaufte US-Gesellschaft ein Fünftel der Nationalbank-Aktien? - News Wirtscha. Swiss National Bank Policy And Its Implications For Currencies, Assets And. 1.20 Fr vertraglich festgelegt: SRG floppt mit Euro-Kurs.
CHF-Stopp-Loss-Absicherung wirkungslos: EUR/CHF: Did SNB Intervene? "Yup: a full reversal... with the EUR/CHF trading to below where it started before the suspected SNB intervetion, and promptly the narrative changed. The full blow by blow from Bloomberg: CHF Pares Losses vs EUR, USD as Intervention Talk Fades: Trader EUR erases gains vs CHF to fall ~2.90% from 1.03826 peak earlier, trading as much as 0.68% lower for the day at 1.00822.EUR/USD positioning is now less crowded, FX sales trader saysInterbank names and some accounts that were stopped of their EUR shorts on squeeze higher sold EUR/USD, pushing the pair below 1.13.
UBS - Swiss economic forecast - Global home. The SNB Is Getting Closer to Using the Bat Signal – EUR/CHF Back in the 1.2. Senkung des Zinsfusses bei der Publica kostet Milliarden - NZZ.ch, 23.12.20. Finanz Und Wirtschaft. Swiss Franc Will Become Safe Haven. Notes for currency wars: The trilemma of international finance. Die Geldpolitik der Schweiz seit den sechziger Jahren - Ernst Baltensperger. Die Geldpolitik der Schweiz seit den sechziger Jahren - Ernst Baltensperger. The two phases of CHF appreciation. Dan Popescu sur Twitter : "The two phases of Swiss franc appreciation via @DorganG... UBS Weighs Fee on Franc Deposits. Switzerland’s soaring franc: Hard to get a grip - FT.com.
Why did the Swiss break the peg of the franc? Swiss Franc Plunges By 600 Pips On Peg Speculation; Will It Succeed? The Swiss Franc, Pseudo-Mathematics and Financial Charlatanism #CHF #SNB. Swiss Franc. Strength of Swiss Franc Roils Saint-Tropez and Other European Cities - WSJ. Move to curb Swiss franc’s rise backfires - FT.com. The Swiss Franc Will Collapse. The Swiss Franc Will Collapse. Hedge Funds Plot Assault on Swiss Franc Ceiling - WSJ.com. The Significance of Switzerland's Enormous Current-Account Surplus - Papers. Franc Options Foreshadow Gain, Denying Victory to Hildebrand - Bloomberg. Hardy on the "over-valued" Swiss franc. Patriotisch – was soll das heissen?: Die Segnungen des Einkaufstourismus -
Theorie und Praxis der Kursuntergrenze: Was der SNB geblüht hätte - Wirtsch. Guest Commentary: Will the EUR/CHF Fall Like a Stone? Macro Comment 15 March 2013 on SNB.pdf. Zöllner stempeln 15,7 Mio Ausfuhrscheine ab: 11 Milliarden Franken fehlen i. Banken erwarten keinen Rückfall des Euro - NZZ.ch, 15.02.2013. Die Schweiz befreit den Schweizer Franken. Höhenflug des Franken noch lange nicht vorbei. Why negative Swiss rates would imply that the Swiss franc appreciates #CHF #SNB. SHORT EUR/CHF JOIN THE REVOLT AGAINST SNB - FX1090. Indikatoren. George Dorgan sur Twitter : "@FredQuimby123 @frankknopers 5.6% of households are under 3000 CHF. SECO expects 2.2% Swiss growth in 2014, why the Swiss franc will continue to strengthen. Story. Citigroup Removed Its Swiss Franc Hedge at the Worst Possible Time - Bloomberg Business. SONS OF NATURE - I love. Reto Lipp sur Twitter : "Wohlstand ist eben kein Zufall. Das neue Buch von Kurt Schiltknecht regt zu Diskussionen an. #srfeco...