EUR/CHF

Retail very good, PMI very bad.

yes time will tell

I keep open the long from 1.2009, the short for the 1.1975, I will take the stake , We had waited for the past months , two month ? four month? That was enough.

Just 2 weeks...

SNB Monetary Policy meeting

They may have to do something before then.

As it was confirmed keeping interest rates around zero will make turbulence in financial and price stability therefor we can expect a higher interest rate from SNB the dilemma is the ceiling of 1.2 that with higher interest rate will break. There is an easy solution for that. You can expect a higher ceiling, let's say 1.25-1.3, and then moving interest rates upward and again keeping the ceiling for 1.2. what is for sure needed to be taken for granted is that deflation is there and while there is no risk of inflation EASING will certainly happen but just a matter of WHEN.

http://www.tagesanzeiger.ch/wirtscha...story/31438760

any gossip today tomplank?

I am sorry but I don get German. What is it all about?

It's Danthines speech.

you could google translate it but it was just going over what he said about using negative rates and it has worked for Sweden

I found the speech in french on the SNB website, it's probably somewhere in english as well.

Hello FF community, my first post, hope it makes sense.

I live since 2008 in Switzerland working for an international IT corporation. I was not fired last year, as the companies made record profits due to the high CHF against the USD, also international clients of Swiss corporations might earn EUR but pay support contracts in CHF. 2011 was a great year.
Now in 2012 I likely get fired, as the CHF is weak against the USD and the earnings are low, budget cuts, layoffs are expected. Not to mention the trend of outsourcing to save more on costs.

Also the guys here are not stupid, everybody takes care about his purse. In my opinion the SNB did the trade of the century buying EURCHF around 0.9 and pegging to 1.2. To keep the 1.2 floor, the SNB buys EURCHF like mad. And how can the SNB profit from this? To raise the floor.

Switzerland manufactures drugs, weapons, space technology. If it is to expensive, nobody would buy it. Now the weaker CHF and strong USD pushes exports I believe. The low EUR now against the USD also means that the German cars are cheap. So export will be boosted. I heard a report from a guy called Gonzalo Lira, if a Eurozone country leaves the Euro, Euro will drop, but as the ECB is in Frankfurt and not in Brussels, the Euro is the currency of the Germans and they will defend it till oblivion (fearing the hyperinflation of the Deutsche Mark), so compensate the devaluation and maybe causing overvaluation. Not to mention the global agenda to have 1 common currency one long term trade would be to see all common currencies become parity. (but we have to buy food in the meantime)

My point is that Switzerland is very dependent on the Eurozone and to be advantageous for buyers with US dollars. The stuff here is priced in CHF, and if the average worker gets more salary as exports grow, everybody is happy. So I am also for a higher ceiling.

Since I am here a lot of people are immigrating. I heard a radio report back in 2010 that the most babies born in Switzerland are from NON native Swiss persons. If I see a Swiss woman pushing a trolley she has 1 baby. If I see a NON Swiss mom with a trolley at least 2 babies if more.

There are to much immigrants here causing trouble. Sure it is smart to employ expats in construction and gruntwork but there must be a limit. I think you can control the immigrants with the job availability.

I moved my base currency to USD from CHF. And buying gold and silver. Small shops used to sell precious metals here are now expanding.

I have a strong feeling to move to Australia as soon as I have no job here, will do.

I normally have a spread of 8, but I like these manipulative jumps, with enormous spreads, see pix.

Happy trading!

fx

Welcome fxshock! :-)

Great first posting, interesting...
I look forward to read more of you ;- )

As you indirect said, SNB must protect the economy with their monetary policy, there is no other way for switzerland as to raise the floor.
I hope u will not get fired!

China May PMI Plunges, Swiss export and PMI.......very supportive for the $1.20 cap

damn, last days always happens when markets gives me oportunity to close.
yesterday I was on the gim, today my laptop battery was low

I think you will get more chances retail sales and pmi worse than expected

good results today for long positions...
i just hope eur will stop its decline agains usd...

I also need better TPs ...

SWISS PMI plunge, as expected......Lets see whether it will affect the domestic economy in the second half of the year, April retail just came out already very very weak 0.1% y/y, SNB will have no choice but to maintain the floor.....lets hope the figure gets weaker and weaker in comming months as this will really force the SNB to raise its cap...

I still think there will be a spike up before the monetary meeting