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EUR/CHF

  • #2,321
  • Jan 17, 2012 8:17am Jan 17, 2012 8:17am
Quoting krunfx
IS IT SNB?
I don't think so, its too small to call it an intervention....
  • #2,322
  • Jan 17, 2012 8:18am Jan 17, 2012 8:18am
Quoting multi888
I don't think so, its too small to call it an intervention....
Swiss finance minister: EUR/CHF should be 1.35/1.40

 

  1. Exports suffer from franc strength
  2. 2012 growth seen at 0.5%

My annual income should be $4.8 bln. What it is and what it should be are two very different things…
http://www.forexlive.com/blog/2012/0...d-be-1-351-40/

  • #2,323
  • Jan 17, 2012 8:35am Jan 17, 2012 8:35am
Quoting multi888
I don't think so, its too small to call it an intervention....
rumors since fin min make a remarks on snb...haha
Bismillah
  • #2,324
  • Jan 17, 2012 8:39am Jan 17, 2012 8:39am
Yes!!! More rumours please...I'm long here.
  • #2,325
  • Jan 17, 2012 8:44am Jan 17, 2012 8:44am
Quoting SIgurs
Bet you're pretty surprised ;-)
Yes a little bit
In fact taking into account last swiss statements (http://www.forexfactory.com/news.php?do=news&id=337223) I think the intervention is very close
  • #2,326
  • Jan 17, 2012 8:57am Jan 17, 2012 8:57am
Quoting tuvok
Yes a little bit
In fact taking into account last swiss statements (http://www.forexfactory.com/news.php?do=news&id=337223) I think the intervention is very close
I was only kidding. Would be very surprised to see the SNB upping the floor given current circumstances. Then again, don't have a crystal ball.
  • #2,327
  • Jan 17, 2012 9:00am Jan 17, 2012 9:00am
Quoting SIgurs
I was only kidding. Would be very surprised to see the SNB upping the floor given current circumstances. Then again, don't have a crystal ball.
I don't think the peg will be risen right now but I'm sure they will intervene sooner or later this or next week
  • #2,328
  • Jan 17, 2012 9:14am Jan 17, 2012 9:14am
Quoting tuvok
I don't think the peg will be risen right now but I'm sure they will intervene sooner or later this or next week
Why '...this or next week'? On what basis?
  • #2,329
  • Jan 17, 2012 9:17am Jan 17, 2012 9:17am
they will make it quikcly since swiss authorities had give a "green light "
Bismillah
  • #2,330
  • Jan 17, 2012 9:17am Jan 17, 2012 9:17am
Quoting Mosq
Why '...this or next week'? On what basis?
I think he meant small interventions to keep 1.2 intact.
  • #2,331
  • Edited 9:48am Jan 17, 2012 9:47am | Edited 9:48am
Quoting maciejburno
I think he meant small interventions to keep 1.2 intact.
Really?

I expect nothing will happen till new inflation data beging of February. Earlier we have KOF data but i do not think this can change something. I would not be even surprised with better value than expected. Seems to me that new chairman can be 'a problem'. Without him i expect 'wait and see as long as possible'...
  • #2,332
  • Jan 17, 2012 9:50am Jan 17, 2012 9:50am
i scaled out my long eur chf 1.2119 @1.2107

lost some pips butno matter.
reason: will reload when i will see good reasons again soon.
90% of traders use TA, indicators and prediction
  • #2,333
  • Jan 17, 2012 12:15pm Jan 17, 2012 12:15pm
After all the the price action we saw last week, looks like we will need a a major fundamental move to raise the floor. Seems like a lot of traders took long positions on Friday, averaging out and now were all just patiently waiting.
  • #2,334
  • Jan 17, 2012 12:20pm Jan 17, 2012 12:20pm
It's starting to get expensive for the SNB to keep defending 1.2 in this range. Whereas last month when the PA was more in the market, since they've dropped the ball and showed weakness last month the PA is in the SNB's court now.
They have to send a much stronger signal to get the market to take it back and this last weak announcement from the Economy Minister is just more weakness.
They need to do more than just trying to get the market to do what they are too weak to do. If they want 1.35 to 1.4 then someone in the SNB will have to make it so because the markets are now more interested in buying CHF amid this crazy turn of events in the SNB. I mean who really is in the SNB now? Why has the Economy Minister made a statement and not the SNB. Where is the SNB?
  • #2,335
  • Jan 17, 2012 2:31pm Jan 17, 2012 2:31pm
Quoting maciejburno
I think he meant small interventions to keep 1.2 intact.
Thanks Maciej. I actually meant that statements like that made today by swiss economy minister could mean "get ready SNB, you have my support"
  • #2,336
  • Jan 17, 2012 4:15pm Jan 17, 2012 4:15pm
Would be interesting to know if the SNB really is ready to take action. After all Hildebrand and his policies were not un-controversial. Might be that Jordan doesn't want to follow the footsteps of his predessor too soon.

Interesting reading in the last econmist: see attached.
Attached File(s)
File Type: pdf The Swiss National Bank Damage control The Economist.pdf   91 KB | 424 downloads
Fail better.
  • #2,337
  • Jan 17, 2012 4:36pm Jan 17, 2012 4:36pm
Quoting LarryDarrell
Interesting reading in the last econmist: see attached.
As it's said - SNB is "one of the world's most respected central banks" and on September the 6th the decision to introduce the peg was made by SNB not Hildebrand himself. So defending the peg means is also defending SNB credibility and reliability.
That's why I'm sure that EURCHF won't go to 1.1995 or 1.1950 or anywhere lower...
  • #2,338
  • Jan 18, 2012 3:59am Jan 18, 2012 3:59am
I agree that they will be defending the current peg, actually I think they draw the line abit above 1,20 to avoid the avalanche of stops there.

I was referring to the rumors about another, higher peg. Jordan, being the likely candidate to follow Hildebrand, won't risk his standing with the government by raising the peg, I guess he would wait until he really is in office.
Fail better.
  • #2,339
  • Jan 18, 2012 6:37am Jan 18, 2012 6:37am
Quoting LarryDarrell
Would be interesting to know if the SNB really is ready to take action. After all Hildebrand and his policies were not un-controversial. Might be that Jordan doesn't want to follow the footsteps of his predessor too soon.

Interesting reading in the last econmist: see attached.
thx LarryDarrell for the pdf
  • #2,340
  • Jan 18, 2012 8:39am Jan 18, 2012 8:39am
Its happening now...
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