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EUR/CHF

  • #6,161
  • Apr 26, 2012 10:01pm Apr 26, 2012 10:01pm
Textile industry suffers from strong franc

The Swiss Textile Federation has repeated its call for a minimum exchange rate of 1.30 against the euro and much stronger action by the Swiss National Bank.

The call came as the industry announced exports for 2011 were down 5.2 per cent down on the previous year at almost three billion francs and warned that prospects were not looking good.

The Federation said the weakening of the world economy and a seriously overvalued Swiss franc are causing problems for the export-dependent sector.

http://worldradio.ch/wrs/news/wrsnew...nc.shtml?30262
  • #6,162
  • Apr 27, 2012 1:12am Apr 27, 2012 1:12am
It spiked, but my buy orders were not executed
  • #6,163
  • Apr 27, 2012 1:24am Apr 27, 2012 1:24am
Quoting rcrist
today was a good day anyway.
I actually closed a position with 2 pips profit!
using 1000x leverage and scalping 1-2pips actually sounds rather tradable for this pair...
  • #6,164
  • Apr 27, 2012 1:53am Apr 27, 2012 1:53am
Quoting rcrist
It spiked, but my buy orders were not executed
Same here...I think the spread got widen during that moment.
  • #6,165
  • Apr 27, 2012 2:02am Apr 27, 2012 2:02am
Solid KOF bammm
  • #6,166
  • Apr 27, 2012 2:10am Apr 27, 2012 2:10am
Switzerland's leading growth indicator, the KOF economic barometer, rose to 0.40 points in April, the KOF Swiss Economic Institute said on Friday. KEY NUMBERS April '12 Mar '12 April '11 0.40 0.09 2.29 (0.08)* *Numbers in brackets refer to the value as it was originally reported. The closely watched indicator points to the expected performance of the Swiss economy in about six months' time. FORECASTS IN REUTERS POLL: ECONCH Median 0.26 High 0.4 Low 0.1
  • #6,167
  • Apr 27, 2012 2:26am Apr 27, 2012 2:26am
Snb policy confirmed...chances of peg raise or removal lower IMO
Looks like all foreign trade indicators bad, all internal indicators improving, monetary stimulus works (extended balance sheet) CPI will be VEERY interesting
  • #6,168
  • Apr 27, 2012 2:33am Apr 27, 2012 2:33am
Anybody know where we can watch Jordan's speech online? He's supposed to give it in about 25 minutes
  • #6,169
  • Apr 27, 2012 2:44am Apr 27, 2012 2:44am
Quoting Blayne
Anybody know where we can watch Jordan's speech online? He's supposed to give it in about 25 minutes
He's speaching from 43 minutes (maybe already finished), in 15 minutes the transcription will be available (from the snb.ch website).

S&P downgrade spain, super KOF, speechs, no way nothing can move the pair anymore, R I P
  • #6,170
  • Apr 27, 2012 3:03am Apr 27, 2012 3:03am
I'm getting the feeling that SNB sees things are pretty stable and we could just see this 1.20 level hold for 6+ months.
  • #6,171
  • Apr 27, 2012 3:05am Apr 27, 2012 3:05am
Quoting sdpadres
I'm getting the feeling that SNB sees things are pretty stable and we could just see this 1.20 level hold for 6+ months.
I think so, they clearly stated in their speach something like that. That's ok, time to change pair
  • #6,172
  • Apr 27, 2012 3:07am Apr 27, 2012 3:07am
Yep, I just read the speech and 1.20 will be in place for awhile.

I will exit my market orders on this pair but keep my 20 pending orders from 1.21 - 1.2460 in place incase we get surprised.
  • #6,173
  • Apr 27, 2012 3:35am Apr 27, 2012 3:35am
Quoting Blayne
Yep, I just read the speech and 1.20 will be in place for awhile.

I will exit my market orders on this pair but keep my 20 pending orders from 1.21 - 1.2460 in place incase we get surprised.

So you think 1.20 won't be broken for a while?
  • #6,174
  • Apr 27, 2012 3:39am Apr 27, 2012 3:39am
Maybe it will be broken, the speach of today was a clear message to traders of eurchf: "the pair will remain dead as long as we want it to be dead", would be good now for the market to fight the snb, and the floor.
  • #6,175
  • Apr 27, 2012 3:46am Apr 27, 2012 3:46am
Quoting tunera
Maybe it will be broken, the speach of today was a clear message to traders of eurchf: "the pair will remain dead as long as we want it to be dead", would be good now for the market to fight the snb, and the floor.


So you closed all your long positions?
  • #6,176
  • Apr 27, 2012 3:49am Apr 27, 2012 3:49am
Giving signals that they don't intend to raise the floor could be a signal that they will actually do it
  • #6,177
  • Apr 27, 2012 3:50am Apr 27, 2012 3:50am
Quoting rcrist
So you closed all your long positions?
Nah i only use chart for my trades, and chart isn't changed at all, lol

But yeah this situation is very strange, the snb say the estabilishment of a mininum rate is not like press a button, intending that they will not raise the peg for long long time.
The market however is supposed to be free, if they are not going to bring this baby up, the market will bring it down. They're playing with fire maybe
  • #6,178
  • Apr 27, 2012 3:53am Apr 27, 2012 3:53am
it is great situation..

best on the market

high leverage longs collecting swaps and waiting something to happen

couldn't be better

  • #6,179
  • Apr 27, 2012 3:54am Apr 27, 2012 3:54am
Quoting zoran22
it is great situation..

best on the market

high leverage longs collecting swaps and waiting something to happen

couldn't be better

yeah i know many people who was high leverage long on 1.24 1.23 1.22 1.21 1.2050 collecting swap
  • #6,180
  • Apr 27, 2012 3:59am Apr 27, 2012 3:59am
Quoting tunera
yeah i know many people who was high leverage long on 1.24 1.23 1.22 1.21 1.2050 collecting swap

It's an ideal situation only if you don't have trades opened...and if you have the right broker...
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