As developments in the Eurozone veered from bad to awful, with Greece on the brink and Spain getting closer, Switzerland, a speck with 7.9 million people surrounded by turmoil, is bracing itself, according to the President of the Swiss National Bank a…
The 1st Q reserve numbers for the Swiss National Bank tell an interesting story. For a second quarter in a row, the foreign reserves have declined.
There is only one way that this could have happened; the SNB offloaded a portion of the EURCHF posit…
The ‘risk off’ trade is commanding the markets. A subtle, but interesting example is the EURCHF.
For four days the EURCHF has held to 1/8th percent away from the official 1.2000 peg. It sits at 1.2016 as I write.
Wherever you look, from China to…
On Monday and Tuesday the market’s attention will be on the USA and the negative economic implications of the Nonfarm payroll (NFP) miss. Market eyes will also be focused on the bond markets in Italy and Spain. As of last Thursday, Europe seemed to b…
There was a mini flash crash in the EURCHF cross this morning. Two charts on the price move:
(Link and Link)
.
I was watching markets on a screen. When I saw the EURCHF price break I called a lady I know on an FX desk. She picked up t…
.
One Around Two
We are near the edge on a few situations in the FX markets. I’m watching the EURCHF and the USDYEN.
The market traded EURCHF to a low of 1.2032 today. It closed at a (slightly) safer 1.2044. I would not be surprised to see this cro…
Mr. Jordan is my guess as the next head of the Swiss National Bank. He’s been at the SNB since 1997. He moved up from the economics department and is now the Vice Chairman.
Mr. J is well qualified. This link to his CV shows that he is an academic at…
I wrote about Kashya Hildebrand’s inappropriate FX trades the other day. The story has some new legs today (Bloomberg). The wife of the president of the Swiss National Bank (SNB) has done the one thing she never should have. She talked. Any chance t…
My kind of story in the Swiss papers today. I love it when big shot central bankers get their dirty laundry made public.
Kashya, the wife of Phillip Hilldebrand (head of the Swiss National Bank) sold Swiss Francs just a few days before the Swiss Nati…
Doug’s latest is not so far from Martin Armstrong’s most recent post.
the Swiss National Bank (SBN) with the stroke of a press release essentially destroyed the Swiss franc’s long-held safe haven status in the marketplace
— the unconventional toolb…
