hi statement was very clear.. but the major part still lay on the international banks.
wish u all the best
wish u all the best
- #5,044
- Apr 10, 2012 6:49pm Apr 10, 2012 6:49pm
- Joined Jun 2009 | Status: Carry Trader that not want interest | 2,016 Posts
I wonder... If they want to appoint Jordan, why this delay....?
Maybe the government has some other surprise candidate...
Various ministers said they want the floor to 1.3, 1.4 etc...
Maybe they will appoint somebody who shares their wishes
hahaha
Bismillah
- #5,047
- Apr 10, 2012 11:54pm Apr 10, 2012 11:54pm
wonder if Soros or some other big hedge fund will want to "break the SNB" just like he "broke the bank of england" back in 1992
"On the part of the SNB, the trading limits amount to some
hundreds of billions of euros a day. These limits can be flexibly adjusted by the SNB, should this be necessary. "
So they can buy 1-2-300 Billion eur/day if neccessary. I dont want to spend money to broke the peg
Other thing, the last sentence: "the SNB stands ready to take further measures at any time."
This was the 3rd warning, that they can intervene at any time. Earlier they said: if the situation get worsen, they could take measures. Last 3 statement said "at any time"
If somebody knows the central banks language (especially SNB) This things very important. If they intervenes nobody would say: they do not warning me.
For me the summary of this statement:
- SNB will buy again unlimited quantitis, if the price will 1.20000
- in this case the price could be a little bit lower on your broker, depending his contract, and spread. This is not SNB fault, this is because the forex market structure
- The SNB think the franc is to strong at this level. They would like to weaken without intervention, with "normal way"
- If it is not will happen, they could weaken the franc "at any time"
That's all for me
Read the Jordan yesterday text (http://www.snb.ch/en/mmr/speeches/id...410_tjn.en.pdf). Only 1 Billion Eur was enough to defend the peg. Jordan said:
"On the part of the SNB, the trading limits amount to some
hundreds of billions of euros a day. These limits can be flexibly adjusted by the SNB, should this be necessary. "
So they can buy 1-2-300 Billion eur/day if neccessary. I dont want to spend money to broke the peg
Other thing, the last sentence: "the SNB stands ready to take further measures...
- #5,049
- Apr 11, 2012 12:33am Apr 11, 2012 12:33am
- | Joined Feb 2012 | Status: "May the odds be ever against you" | 457 Posts
Read the Jordan yesterday text (http://www.snb.ch/en/mmr/speeches/id...410_tjn.en.pdf). Only 1 Billion Eur was enough to defend the peg. Jordan said:
"On the part of the SNB, the trading limits amount to some
hundreds of billions of euros a day. These limits can be flexibly adjusted by the SNB, should this be necessary. "
So they can buy 1-2-300 Billion eur/day if neccessary. I dont want to spend money to broke the peg
Other thing, the last sentence: "the SNB stands ready to take further...
Spain and Greece are sending money there to save themselves from Euro which is not stable and it will take lot of time to get stable.. may breakup at year end.. so funds are going into CHF. To them saving their lifetime saving matter rather than small exchange rate difference.
300 Billion eur/day, you know how much is foreign exchange funds CHF have check the data.. last intervention was 18 billion only.. so hold horses.. Peg will go down 4-5 times.. than it will come up again when CHF fundamental detoriates.. which is very strong for now..
- #5,050
- Apr 11, 2012 12:38am Apr 11, 2012 12:38am
- Joined Jun 2009 | Status: Carry Trader that not want interest | 2,016 Posts
Greetings HUHUHUHU
Bismillah
