Tue, May 18, 2021 @ 22:42 GMT
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Swiss Franc Range Trading, CPI Next

The Swiss franc has posted slight gains on Tuesday. In the North American session, USD/CHF is trading at 0.9126, up 0.18%. SECO Consumer Climate improves Swiss consumer confidence improved to -7 in the April report, up from -15 points beforehand. This was the best reading since May 2020, and importantly, the...

Dollar and Yen Extending Consolidations, Trading Mildly Higher

Dollar and Yen rebound notably today as consolidative trading continues, with help from mixed sentiments. European indices are mixed while US futures point to lower open. Major global trading yields are trading lower, with US 10-year yield below 1.6 handle. New Zealand Dollar is leading Australian Dollar lower, followed...

Swiss SECO consumer climate rose to -7.1, back at pre-crisis level

Swiss SECO consumer climate rose to -7.1 in Q2, up from -14.2. The reading was approximately back at pre-pandemic level, and closing in on its long-term average at -5. Looking at some details, expected economic development rose form -17.7 to 3.4, turned positive. Expected financial situation edged up from...

Swiss Franc Yawns as Manufacturing PMI Rises

The Swiss franc is almost unchanged at the start of the week. In European trade, USD/CHF is trading at 0.9137, up 0.07%. The US dollar posted strong gains on Friday. USD/CHF fell by 0.45%, its sharpest one-day loss in a month. The US currency received a boost as international investors...

Dollar Rebounds after Strong PCE Inflation, Euro Retreats on Mixed GDP

Dollar rebound in early US session after much stronger than expected PCE inflation data. Though, at this point, Canadian Dollar remains slightly firmer, as supported by GDP data. Yen is also recovering with mild retreat in German and Japan yields, as well as mild risk aversion. European majors are,...

Swiss KOF rose to record 134, strong economic boost in near future

Swiss KOF Economic Barometer rose for the second month in a row, from 117.8 to 134.0 in April. That's also the highest level on record, surpassing the previous historical high reached after the financial crisis in 2010. KOF said, "unless the virus takes another volte, economic development is likely...

Swiss Franc at 6-Week High, PPI Next

The Swiss franc is drifting in the Thursday session. Currently, USD/CHF is trading at 0.9226, up 0.08% on the day. Swiss franc continues to swell Despite the best efforts of the Swiss National Bank (SNB), the Swiss franc continues to attract investors and appreciate in value. The Swiss franc was on a...

Swissie Falls Despite Sparkling Swiss KoF

The Swiss franc is trading in negative territory in the Tuesday session. Currently, USD/CHF is trading at 0.9422, up 0.35% on the day. On the fundamental front, Switzerland releases the Credit Suisse Economic Expectations Index (Wednesday, 8:00 GMT). KoF Economic Barometer soars The KoF Economic Barometer, a key indicator of business confidence,...

Dollar Surges on Renewed Rally in Yields, Yen and Gold Tumble

Dollar rides on renewed rally in US treasury yields and trades broadly higher today. The greenback's strength is quite overwhelming for now. On the other hand, Yen and Swiss Franc are trading as the weakest ones, followed by commodity currencies. The stock markets are having little reactions so far,...

Swiss KOF rose to 117.8, highest since 2020, rapid recovery ahead

Swiss KOF Economic Barometer rose to 117.8 in March, up from 102.7, well above expectation of 104.3. The index is now "as high as it was last in summer 2010", signal a "rapid economic recovery for the coming months". KOF said the improvement is "largely due to the indicators from...

Swissie at 8-Month Lows, KoF Barometer Next

The Swiss franc has started the week quietly. Currently, USD/CHF is trading at 0.9398, up 0.08% on the day. Swiss franc steady ahead of KoF Economic Barometer The KoF Economic Barometer, a key indicator of business confidence, will be released on Tuesday (7:00 GMT). The KoF slipped below its long-term average of...

After SNB Decision, Will Swiss Franc Resume its Decline?

The Swiss franc is unchanged in Thursday trading. Currently, USD/CHF is trading at 0.9353, down 0.02% on the day. Swiss franc steady as SNB holds the course There were no surprises from the Swiss National Bank, which held its policy meeting on Wednesday. As expected, the bank maintained its key rate at...

Sunset Market Commentary

Markets Trading mainly developed through the risk angle today. The recent (European) corona setback outweighs the reflation story in the short run. End of quarter rebalancing out of stocks into bonds might have added to recent moves. European stock markets currently decline around 1%. The technical picture of the EuroStoxx...

Swiss Franc Decline Slows after SNB, Dollar Attempting Rise after Jobless Claims

Sterling trades mildly higher in rather quiet market today while Euro and Yen turn softer. Dollar is attempting to extend this week's rally after better than expected jobless claim data. But no follow through buying is seen in the greenback yet. Swiss Franc's selloff slowed mildly after SNB upgraded...

SNB Appears Less Concerned about Franc’s Strength, Raises Inflation Forecasts

The SNB left all its monetary policy measures unchanged. It kept the policy rate and interest on sight deposits at −0.75% and pledged to continue intervening the FX market if necessary. While leaving the growth outlook intact, the central bank upgraded slightly the inflation forecasts. In the accompanying statement, the...

SNB keeps policy rate at -0.75%, upgrades inflation forecasts

SNB keeps policy rate and interest on sight deposits at -0.75% as widely expected. The central bank said "it remains willing to intervene in the foreign exchange market as necessary, while taking the overall currency situation into consideration." New conditional inflation forecasts for 2021 and 2022 were revised higher. This...

European Open: Did North Korea Go ‘Ballistic’? SNB Up Next

Japan's PM has claimed that North Korea fired two ballistic missiles into Japanese waters, in what could be the first major test for Biden's foreign policy. Asian Indices: Australia's ASX 200 index rose by 11.8 points (0.17%) to close at 6,790.60 Japan's Nikkei 225 index has fallen by -26 points...

Swiss Franc Holds Steady Ahead Of The SNB Rate Decision

The Swiss franc held steady against the dollar ahead of the first Swiss National Bank (SNB) interest rate decision of the year. The bank is expected to leave interest rates unchanged at -0.75% and possibly hint to a possible hike later this year. Analysts also expect it to upgrade...

Swiss National Bank Preview: A Trillion-Franc Quandary

It doesn't garner as much headlines as continental rivals like the European Central Bank or Bank of England, but the Swiss National Bank has long been a bastion of conservative, prudent monetary policy for centuries. Traders are eager to see if the SNB can live up to that reputation...

Sunset Market Commentary

Markets The Fed reiterated its commitment at Wednesday’s policy meeting to keep policy extremely accommodative until its aim for inflation above 2% and maximum employment will be visible in hard data. Late last week, investors doubted that this would be enough to halt the protracted curve steepening. US yields held...

Yen Mildly Higher While Nikkei Tumbles, SNB a Focus in the Week

Nikkei trades sharply lower today as selloff continues after BoJ decide to exclude Nikkei-linked ETF from its purchases. Though, Topix is also trading down deeply. The Japanese markets are weighed down by news that a fire-damaged automotive semiconductor plant is going to take at least a month to restart....

Week Ahead: Financial Markets Remain Fixated with Bond Market Moves and Brace for Lots of Central Bank Speak

The focus for the upcoming week will stay with the bond market.  Financial markets are worried with how high Treasury yields can go.  Treasuries have declined for seven straight weeks and that has triggered been the primary driver for US dollar strength. Monday is the start of the Bank of...

Week Ahead – European PMIs to Chart the Euro’s Course

It seems like a relatively calm week for global markets. The sole central bank meeting will be that of the Swiss National Bank, which will likely be thrilled about the recent demolition of the franc. There is also an overload of economic data on the agenda, the most important...

Euro Mildly Softer after ECB, But Dollar and Yen Even Weaker

Euro softens mildly after ECB announced to speed up PEPP purchases in the next quarter. But loss is relatively limited as the overall envelop was kept unchanged. Dollar and Yen are currently the worst performing one for today, on the back of risk-on sentiments. Commodity currencies are currently the...

Swiss government expects 3.0% GDP growth this year, 3.3% next

Swiss Federal Government's Expert Group said the country's GDP is set to decrease in Q1. But following the easing of coronavirus measures, the economy should have a "rapid recovery" subsequently. Nevertheless, "uncertainty remains extremely high". The Expert Group kept 2021 GDP growth expectation unchanged at 3.0%, adjusted for sporting events....

Swissie Falls as Dollar Punches Above 91

The Swiss franc has started the trading week and the month of March in negative territory, as the currency’s downswing continues. USD/CHF is currently trading at 0.9141, up 0.63% on the day. Swiss franc falls to 4-month low The Swiss franc remains in a prolonged downswing against the US dollar. The...

Dollar Strong as Stocks Stay in Red Even Though Yields Retreat

Even though treasury yields are retreating mildly today, stocks are staying in red in Europe and Asia. US futures point to a recovery but it's unsure if the rebound could sustain before close. Investors are digesting comments from central bank officials regarding surging real long term rates and inflation....

Swiss KOF rose to 102.7 in Feb, GDP grew 0.3% in Q4

Swiss KOF Economic Barometer rose to 102.7 in February, up from 96.5, above expectation of 97.0. It's now slightly above long-term average of 100. The downward trend since September has "come to an end, at least for the time being". For the next few months, the barometer now "signals...

Australian Dollar Softens after RBA Expands QE, Euro Pressing Key Support Again

Australian Dollar softens mildly after RBA expands asset purchases by another AUD 100B. Also, it pledges to keep interest rate unchanged at current level until at least 2024. On the other hand, New Zealand Dollar and Canadian Dollar are the relatively stronger ones. But for now, both are capped...

SNB Jordan: Switzerland is anything but a currency manipulator

SNB Chairman Thomas Jordan said yesterday, at the moment, " foreign exchange interventions are very important because we have seen great pressure on the franc, especially in the COVID crisis." Over CHF 100B was spent on intervention in the first nine months of 2020, to curb the surge in the...