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EUR/CHF

  • #8,221
  • Jun 23, 2012 10:56am Jun 23, 2012 10:56am
Quoting worsttrader
i just went down to the shop to buy a box of cigarette and i faced the newspapers 'GREECE EXIT EURO'

f.ck man i almost shit my pants when i realized they r talking about the football...
The title could also have been:
Germany kicked Greece out of EURO
  • #8,222
  • Jun 23, 2012 10:58am Jun 23, 2012 10:58am
Geece out, Ireland out and maybe Spain and Italy will leave today and tomorrow
  • #8,223
  • Jun 23, 2012 11:36am Jun 23, 2012 11:36am
Quoting rcrist
The title could also have been:
Germany kicked Greece out of EURO
Talking about football, Greece is not so bad after all although they have been 'kicked' out of 'Euro'.

Economic wise Merkel always wants Greece to be part of Euro....
but she is happy that Germany kicked Greece out of Euro in football
  • #8,224
  • Jun 23, 2012 12:47pm Jun 23, 2012 12:47pm
Quoting tim10167
Yes patience, brinks

But iam just trying to figure out other scenarios if SNB is afraid of introducing capital controls, and if EU gets their act together...
They are waiting EU summit where it may be voted tax on financial transactions...I don't know yet how it will affect forex transactions where EUR currency is present.
Speculation converts one man's capital into another man's income
  • #8,225
  • Jun 23, 2012 5:37pm Jun 23, 2012 5:37pm
Price non-action, the Swiss way.

Attached Image (click to enlarge)
Click to Enlarge Name: Pancacke Market.gif Size: 25 KB


Lined up on top are rolling bars, made up from the requisite number of bars in the next lower TF. So their duration is fixed, one TF’s worth, and their value in pips that of the range. 13 pips over one week and all of 6 yesterday. We can do better, lol.
  • #8,226
  • Edited 9:44pm Jun 23, 2012 8:57pm | Edited 9:44pm
Can the SNB change the floor in market closed time?
Well if they do that, it won't shoot buy stops so it will cost less for them.
  • #8,227
  • Jun 23, 2012 11:40pm Jun 23, 2012 11:40pm
Quoting cipid2012
They are waiting EU summit where it may be voted tax on financial transactions...I don't know yet how it will affect forex transactions where EUR currency is present.
PIMCO's Gross recons they are going to kick a super big can down the road, looks like he is right, so, pressure on the floor will remain
  • #8,228
  • Jun 24, 2012 3:20pm Jun 24, 2012 3:20pm
http://www.nytimes.com/interactive/2...s-dilemma.html

Fearing that a strong Swiss franc would be disastrous for its exporters, Switzerland said last summer that it would not allow the euro to be worth less than 1.20 francs. That meant keeping Swiss interest rates at just above zero while buying euros to keep the franc from falling. That caused the country’s foreign exchange reserves to soar, but its exports are still declining. Meanwhile, low interest rates have led to increases in home values that alarm the Swiss central bank. Related Article »
  • #8,229
  • Jun 24, 2012 4:36pm Jun 24, 2012 4:36pm
What we, traders, and more significantly Switzerland industry, are waiting for ; introducing a new peg, is far from Jordan personality. Hildebrand said that he had worked for the job as a lion while Jordan is mostly an academic figure who is oriented to policy makers not industry, and after such powerful figure as Hildebrand he looks forward to appreciation. I don' say that because I am long or short because I have buy and sell stops and can wait rather long term. But I feel as SNB vice president said that Monetary easing might evaporate in terms of export they don't tend to support industry, what seems to be their duty, and SNB is not acting independently anymore which is because of Jordan weak personality. I have seen in the forums that they say no floor can be defended forever, I believe that the floor could be defended till the time the economy collapses and it needs no defending, just looking at economic data in Aug, and Sep of 2011 we can easily seen that economic figures are getting worse and they are more than remaining cautious as SNB cites.
  • #8,230
  • Jun 25, 2012 6:12am Jun 25, 2012 6:12am
SNB is now success in a way where both the longs and shorts gets really tired of trading this pair and just want to leave this pair alone. I think this was SNB's plan.
  • #8,231
  • Jun 25, 2012 6:45am Jun 25, 2012 6:45am
Anyone scalping this pair?

Any good scalping brokers you can recommend?

Thanks
  • #8,232
  • Jun 25, 2012 9:49am Jun 25, 2012 9:49am
There is some pressure on today
  • #8,233
  • Jun 25, 2012 10:19am Jun 25, 2012 10:19am
Quoting alaneth
Anyone scalping this pair?

Any good scalping brokers you can recommend?

Thanks
could try dukascopy or oanda. tight spreads on this pair.
  • #8,234
  • Jun 25, 2012 10:41am Jun 25, 2012 10:41am
Quoting brinks
There is some pressure on today
Today? Even more than last week? Printed over 40 bn francs in 1 week. At this rhythm largest foreign currency reserves of the world in 6 months! Unsustainable for a country with a population of 8 million
  • #8,235
  • Jun 25, 2012 10:49am Jun 25, 2012 10:49am
Quoting qatar
Today? Even more than last week? Printed over 40 bn francs in 1 week. At this rhythm largest foreign currency reserves of the world in 6 months! Unsustainable for a country with a population of 8 million
Yes completely unsustainable for them.
  • #8,236
  • Jun 25, 2012 10:58am Jun 25, 2012 10:58am
Quoting brinks
Yes completely unsustainable for them.
why?
they are richer now. what is unsustainable about being so rich?
  • #8,237
  • Jun 25, 2012 10:59am Jun 25, 2012 10:59am
they just have a new export product: the franc paper
  • #8,238
  • Jun 25, 2012 11:02am Jun 25, 2012 11:02am
and maybe all these francs will come back some day , and EURCHF will explode, unless SNB buys them back... but I'm sure they will prefer to do it as up as possible.
  • #8,239
  • Jun 25, 2012 11:47am Jun 25, 2012 11:47am
Quoting rcrist
why?
they are richer now. what is unsustainable about being so rich?
Yes, agree with you - cannot compare Switzerland with other countries.

Jordan tried to compare with Norway in his 14th June speech : "The
sovereign wealth funds in Norway and the oil states cannot serve as models for the management of the SNB’s currency reserves. All of them invest state income surplus derived from commodity exports.".

OK, Norway is a commodity exporter. But Switzerland's economy is in it's renowned "Swiss Banks & banking secrecy". So you cannot compare with Norway.

In this manner, by printing more CHF, Switzerland gets richer in theory and in actual practical sense - yes. What's wrong of having the highest foreign reserves in the world? or highest reserves/GDP ratio? Isn't that good - it shows a strong, stable country.

Coming to printing paper notes (CHF), we cannot compare to Switzerland to Zimbabwe.

So, Jordan, keep your printing presses busy & in top gear to your "utmost determination"....

.... and we just keep our longs
  • #8,240
  • Jun 25, 2012 11:55am Jun 25, 2012 11:55am
EURCHF chart totally obeys Newton's laws of motion...

1. An object at rest will remain at rest unless acted on by an unbalanced force.
2. An object in motion continues in motion unless acted upon by an unbalanced force.
3. For every action, there will be an equal but opposite reaction.

LOL
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