0859 GMT [Dow Jones] Rabo says poor Swiss data gives SNB more reason to keep fighting safe-haven inflows. Swiss August CPI came in flat on the month and -0.5% on the year Wednesday, while earlier in the week Swiss 2Q GDP slowed to +0.1% from +0.7% 1Q and the Swiss PMI fell to 46.7 for its 4th month of contraction. The bank's senior currency strategist Jane Foley says assuming the SNB remains profitable she rates the chances of the EUR/CHF floor being raised to 1.25 greater than the probability that the SNB will abandon it altogether. EUR/CHF now at 1.20126. ([email protected])
0859 GMT [Dow Jones] Rabo says poor Swiss data gives SNB more reason to keep fighting safe-haven inflows. Swiss August CPI came in flat on the month and -0.5% on the year Wednesday, while earlier in the week Swiss 2Q GDP slowed to +0.1% from +0.7% 1Q and the Swiss PMI fell to 46.7 for its 4th month of contraction. The bank's senior currency strategist Jane Foley says assuming the SNB remains profitable she rates the chances of the EUR/CHF floor being raised to 1.25 greater than the probability that the SNB will abandon it altogether. EUR/CHF now...
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wasn't rabo accused of acting on behalf of SNB before?
anyway respecting the move. can you imagine how many euros had to be bought to achieve that 20 pip move
I think only chance for it to go back to where it was would be a disappointing meeting of the ezb tomorrow...Just my 2 cents...
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Since April the pair didn't stay above 1.203 for more than 1-2 days...
What makes you think it's going to be different now?
Anyway, what exactly happen?
you mean buying. and my point was that rabo has no credibility in making such statements
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no, i mean selling... they have enough to sell and maybe they have to buy again, when the sentiments turn negative again... don't think snb is buying now... they could use other tools to push the rate higher. (verbal interventions)
Since April the pair didn't stay above 1.203 for more than 1-2 days...
What makes you think it's going to be different now?
Anyway, what exactly happen?
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It's the rumour about the new plan of the ezb. Expectations are high that it will be explained in detail tomorrow during the meeting. If the plan is good markets will calm down...I suppose this will finally lead to a less overvalued eurchf...but as I said...just my opinion
no, i mean selling... they have enough to sell and maybe they have to buy again, when the sentiments turn negative again... don't think snb is buying now... they could use other tools to push the rate higher. (verbal interventions)
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even if there were selling (euros), they wouldn't be selling against francs. counter intuitive. in any case, i'm taking profit at 1.2070 because these are still rumours after all.
It's the rumour about the new plan of the ezb. Expectations are high that it will be explained in detail tomorrow during the meeting. If the plan is good markets will calm down...I suppose this will finally lead to a less overvalued eurchf...but as I said...just my opinion
even if there were selling (euros), they wouldn't be selling against francs. counter intuitive. in any case, i'm taking profit at 1.2070 because these are still rumours after all.
btw, love how thread viewership skyrocketed
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I close most of my longs except for one single lot...
I think we'll see some ups and downs these days....
