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EUR/CHF

  • #7,661
  • Jun 12, 2012 8:26am Jun 12, 2012 8:26am
Quoting Luigi111
Hello

I dunno if u know but around around 2 weeks ago FxPro was paying 3$ per day per lot in EUR/CHF pair if u go long, which was prett good. Right now they moved it to 0,00.

1- Any of you know any Broker paying more than 1$ per lot in EUR CHF ?

2- As u know on day 3 months ago SNB Menetary Policy Minutes was on day day 15 MArch, and as u can see in your MT4 on day 13 March at 18h00 London time EUR CHF was in 1.2050 and suddetnly started its grinding up until 1.2140, which was on day 14 March at 17h00 London Time.
Well this month SNB Mminutes...
1. Visit http://www.forexbrokerz.com/forex-swap/eurchf

2. Only a fortune teller can see this.
I feel this spike is smaller. About 50pips at most.
I think the move will start only on Thu during Asian trading hours.
  • #7,662
  • Jun 12, 2012 9:15am Jun 12, 2012 9:15am
is your broker allowing you to open new positions on eurchf?
mine is not.
  • #7,663
  • Jun 12, 2012 9:25am Jun 12, 2012 9:25am
appears that a broker doubling margin requirements is big news...
  • #7,664
  • Jun 12, 2012 9:38am Jun 12, 2012 9:38am
I have large margin...
They just don't allow any new long position, regardless the margin
  • #7,665
  • Jun 12, 2012 9:44am Jun 12, 2012 9:44am
Quoting rcrist
I have large margin...
They just don't allow any new long position, regardless the margin
??? did your broker give you any reason on why they dont allow any more longs?
  • #7,666
  • Jun 12, 2012 9:46am Jun 12, 2012 9:46am
forex live again

but EUR/CHF is below 1.2010.
DJ reports that Saxobank has doubled margins on certain trades ahead of the SNB meeting Thursday. Using my powers as a super-genius, I assume EUR/CHF must be one of the pairs with higher margin requirements, which is likely putting some pressure on the pair as retail liquidates.
We trade now at 1.20085.

Saxo Bank believes that one of the consequences of the Euro-zone (and Greek) drama is that the CHF may suddenly appreciate, causing it to being de-pegged and severely impact traders who have shorted this currency. Apparently Saxo Bank believes that the CHF potentially poses a considerable risk to some of its clients – and I’d say rightfully so.
With the peg of EURCHF at 1.2000 investors have sold CHF and bought EUR for months, both Forwards and in Options. Clients with short CHF exposure could be negatively affected if major turmoil in the euro or euro-zone occurs. Beginning with the Greek elections on 17 June, the Bank anticipates significant political and financial events to take place over the summer. These events may trigger the SNB to de-peg the CHF and this could result in a larger appreciation of CHF.
As a consequence of the potential risk, Saxo Bank will implement the following margin change for CHF (from email sent to clients):

  1. The new margin applies to the first EUR300,000 of FX margin collateral. On collateral above the EUR300,000 the required margin will double. The change is scheduled to happen at 17:00 CET on both 14 and 21 June.
  2. As you might know, we have been relatively sanguine on the CHF and EURCHF 1.2000 peg but the latest developments suggest higher risk of a peg break and a stronger CHF.
  3. The Bank, therefore, recommends reducing all short CHF exposure over the summer period as the tail-risk in both Switzerland and Europe is rising.

  • #7,667
  • Jun 12, 2012 9:48am Jun 12, 2012 9:48am
Quoting tim10167
??? did your broker give you any reason on why they dont allow any more longs?

Not yet.
  • #7,668
  • Jun 12, 2012 9:50am Jun 12, 2012 9:50am
Quoting rcrist
I have large margin...
They just don't allow any new long position, regardless the margin
What is going on?? is it just your broker's own company policy or SNB has started some sort of policy intervention???
  • #7,669
  • Jun 12, 2012 9:52am Jun 12, 2012 9:52am
I can buy on both my accounts
  • #7,670
  • Jun 12, 2012 9:54am Jun 12, 2012 9:54am
Quoting tim10167
What is going on?? is it just your broker's own company policy or SNB has started some sort of policy intervention???

probably it is their policy...
they only allow closing current long positions since 1-2 hours ago
  • #7,671
  • Jun 12, 2012 9:55am Jun 12, 2012 9:55am
Quoting rcrist
probably it is their policy...
they only allow closing current long positions since 1-2 hours ago
Everyone is now thinking the peg is going to break

Or lowered by the SNB on thursday
  • #7,672
  • Jun 12, 2012 9:55am Jun 12, 2012 9:55am
Quoting rcrist
probably it is their policy...
they only allow closing current long positions since 1-2 hours ago

actually I opened last long during last night, when my buying orders were hit
  • #7,673
  • Jun 12, 2012 9:55am Jun 12, 2012 9:55am
Quoting rcrist
probably it is their policy...
they only allow closing current long positions since 1-2 hours ago
Which broker are you with?
  • #7,674
  • Jun 12, 2012 9:56am Jun 12, 2012 9:56am
Quoting rcrist
actually I opened last long during last night, when my buying orders were hit

they are probably afraid that they won't be able to close long positions if peg is broken....
  • #7,675
  • Jun 12, 2012 9:57am Jun 12, 2012 9:57am
Quoting brinks
Everyone is now thinking the peg is going to break
because Spanish yields have just hit record high, and Greek election, we are at the pivot point now
  • #7,676
  • Jun 12, 2012 10:00am Jun 12, 2012 10:00am
Tonight should be very supportive as just a few hours ago, Swiss officials just came out and say the $1.20 policy has full government support
  • #7,677
  • Jun 12, 2012 10:02am Jun 12, 2012 10:02am
they responded.
answer is: There are some incorrect values on MT platform. Question is how come they allow closing positions with these incorrect values
  • #7,678
  • Jun 12, 2012 10:04am Jun 12, 2012 10:04am
its getting scarier !!
  • #7,679
  • Jun 12, 2012 10:05am Jun 12, 2012 10:05am
Quoting rcrist
they responded.
answer is: There are some incorrect values on MT platform. Question is how come they allow closing positions with these incorrect values
so are they saying they will allow traders resume trading soon?, few brokers are freaked out now
  • #7,680
  • Jun 12, 2012 10:05am Jun 12, 2012 10:05am
Quoting hmsarosh
its getting scarier !!

Hahahaha yeah i was just thinking the same thing.

The SNB should of been more proactive in pushing price away from the floor
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