Stacks on AUDUSD

Another stack on EURUSD

EURJPY shorts from 150

GBPUSD longs from double bottom

No end to the GBPJPY bullish sign

Shorts on GBPJPY after breaking the support

Risky shorts for daredevils on US30

Silver has provided some serious bearish breakouts on 4H

Strong confluence on EURUSD longs

Gold, show us some love please!

Vision Pro is go long for

What's good, GOLD?

Breakout and retest on the resistance now turn support

Sellers are going to be liquidated

Ripple stacks at 0.5

Bitcoin Sluggish on bullish sentiments above 2000$

Bitcoin to extend its complex correction before bullish run

Took the loss, for another short position

AUDUSD under selling pressure

Gold still buys

Ripples previous bearish leg can be the last one for now

Still betting long on Chainlink

Stopped out for no good reason!

Lets go gold!

NFP day with Dow Jones

GBPJPY topping out?

Copper contrarian buying opportunity?

Still bullish on Gold

Descending trendline retest

AUDUSD needs retracement at 0.6515

Breakout buy and retest on EURJPY

The Double Bottom can trigger a bullish breakout

EURUSD buys from 1.0730

EURUSD buys, but stalled on a monday holiday

Heavy support at 1937

EURUSD double bottom

Still looming for EURUSD longs

US Dollar Uptrend Has Started, Is It Time to Short EURUSD?

Stop hunts on RIPPLE

Still bullish on ripple

Stacks on Ripply

Still short on Bitcoin

Shorting ETH at the resistance

Taking a long position even after a loss

Expecting another corrective bearish leg before upside

Inverse head and shoulders formed

Ethereum retest at 1813

Bearish on Bitcoin

Waiting on Chainlink

0.4475 is the buy region for Ripple

Hawkish continuation of trend after a pullback

GBPJPY buys from 171.40

Double top on GBPJPY?

Still hovering GBPJPY

Fall on gold can be considered as last leg of bearish correction

Looking at gold buys from 1940

Gold pounced from support

Major support levels tapping

Textbook breakout and retest on NASDAQ

EURUSD to fall below 4HEMA200

Double bottom on support on EURUSD

EURUSD buys from support

EURUSD has still hidden bearish cards on the line

USDCHF to complete its correction before next fall

AUDUSD flooring at the support level

Gold buys from 1971

USDCAD seems to be getting ready for bullish run

AUDUSD tapping the support once again

Short Term Buying on AUDUSD

Still believe for Gold to move up

Kiwi struggling for sustenance above the DEMA200

Chainlink at the support level of 6.45

Breakout sells on Dow Jones 30

Daily and weekly resistance on NASDAQ

Gold to complete higher degree correction

AUDUSD breakout buy

Uptrend gold tapping major support

CADJPY looking for a retest of the resistance

Intraday EURUSD setup

Does XRP's Strong Bids at 0.41 Enough to Re-test 0.47?

GBPJPY testing the support

Shorts from retracement level

Longs at 50% retracement

EURUSD has turned favors to bearish trend

GBPJPY wants to fly high

Shorting gold till 1980?

Slipping on GBPJPY?

Trendline speaks of bearish sentiments prevailing on USDCAD

USDCHF to stay bearish until the break of TL above

EURUSD taking advantage of 1.0800 support

GBPJPY can go for a bearish run below the SL

Bitcoin still bearish

Minor resistance shorts on CADJPY

Chainlink buys from 6.32

Bitcoin will be bullish after bearish correction

EURUSD took a bearish turn

EURUSD completing daily cycle bearish correction

EURUSD maintaining steady bullish stance above TL

EURUSD still buys

ETH/USD bearish until touchdown at DEMA200

The Swiss franc depreciated to 0.91 per USD in early June, the lowest in two months, as slowing inflation in the Swiss economy continued to pare expectations of the extent of remaining tightening for the Swiss National Bank. Swiss consumer prices rose by 2.2% annually during May, the least in 15 months and well below expectations from the central bank. Additionally, core inflation slowed to 1.9% to fall below the SNB’s upper limit of 2% for the first time in 11 months. While the data strengthened a dovish outlook for the SNB, policymakers believe that the current interest rate of 1.5% remains low and that inflationary risks are still on the upside. Further, the central bank’s Chairman Jordan specified that overtightening risks are low, backing expectations of a 25bps hike for this month.

Swiss Franc Depreciates on Cool Inflation

The Swiss franc slightly depreciated to the 0.89 per USD mark from the two-year high of 0.88 touched on May 3rd, as cooler-than-expected domestic inflation trimmed bets on the extent that the Swiss National Bank will tighten monetary policy. Swiss consumer prices rose by 2.6% annually in April, the least in one year, and below market expectations of 2.8% as food and energy prices retreated. Still, SNB officials continued to signal that further policy tightening may be necessary to minimize the risk of second-round effects. Recent support for the franc was also attributed to eased concerns of instability in the Swiss financial system. Sight deposits at the SNB fell to near February levels in late April, indicating that UBS and Credit Suisse have already returned much of the emergency liquidity provided by the central lender to consolidate investors' perception of a healthy balance sheet.

Swiss Franc Eases from 2-Year High on Cool Inflation

USDCHF decreased to a 27-month low of 0.88575

Swiss Franc Hits 27-month High

The Swiss franc appreciated to 0.89 per USD at the end of April, its strongest since January 2021, amid hawkish remarks from the Swiss National Bank and restored confidence in the Swiss financial system. Sight deposits at the SNB continued to fall in late April, indicating that UBS and Credit Suisse have already returned some of the emergency liquidity provided by the central lender to consolidate investors' perception of a healthy balance sheet. In the meantime, policymakers have repeatedly signaled the need for tighter monetary policy, driving economists to project another 50bps interest rate hike in June. While the country's inflation of 2.9% remained well below those of other European nations, SNB President Jordan stressed the risks of second-round effects and called for further rate increases.

Swiss Franc Appreciates to 2-Year High

The Swiss franc weakened to 0.9 per USD from the two-year high of 0.89 touched on April 13th amid expectations that the Swiss National Bank is close to ending its tightening path. The SNB is seen delivering one final 25bps rate increase in the upcoming June meeting before pausing its hiking cycle through the third quarter of 2024. Such a move would cap the bank’s tightening at 225bps since June 2022, less than that by the US Fed and the ECB due to Switzerland’s relatively low inflation. Inflation was at 2.9% in March, slowing from the 29-year high in August 2022. Still, the franc was supported by the recovered confidence in the national financial system after the Credit Suisse fallout. Data from the SNB showed that sight deposits at the central bank were CHF 23 billion lower than levels of late March, suggesting the lender may have already started repaying some of the offered emergency liquidity.

Swiss Franc Eases from 2-Year High

The Swiss franc strengthened past 0.89 per USD in April, the highest since January 2021, lifted by weakness in the dollar and evidence of recovery in the Swiss banking sector. Data from the Swiss National Bank showed that sight deposits fell by CHF 31 billion on the week ending April 7th, the second biggest weekly decline on record, suggesting Credit Suisse may have already started repaying some of the emergency liquidity offered by the SNB. The drop in sight deposits also implied the central regulator might have intervened in forex markets by selling foreign currencies for francs. Policymakers have repeatedly signaled their willingness to intervene in currency markets to support the franc and combat unsustainable price growth. March data showed the annual inflation slowed to 2.9%, the lowest in three months, down from 3.4% in February and below market expectations of 3.2%. Also, the core rate eased to 2.2%, a much smaller figure than in the rest of the Euro Area.

Swiss Franc Soars to 2-Year High

USDCHF decreased to a 19-month low of 0.90522

Swiss Franc Hits 19-month High

The Swiss franc strengthened to the 0.91 per USD level, nearing the 18-month high of 0.908 touched on February 1st, as concerns over instability in the Swiss banking sector waned. Sight deposits held at the Swiss National Bank fell for the first time in one month on the week ending March 31st, easing stress worries for commercial banks as UBS might have cut back on the use of liquidity from the SNB. The decline in sight deposits also suggested the SNB might have intervened in forex markets by selling foreign currencies for francs. Policymakers have repeatedly signaled their willingness to intervene in currency markets to strengthen the franc and combat unsustainable price growth. March data showed the annual inflation slowed to 2.9%, the lowest in three months, down from 3.4% in February and below market expectations of 3.2%. Also, the core rate eased to 2.2%, a much smaller figure than in the rest of the Euro Area.

Swiss Franc Approaches 18-Month High

The Swiss franc weakened to nearly 0.92 per USD, on expectations the Swiss National Bank may hike rates by a smaller 25 basis point in June after a softer-than-expected inflation rate in March. The latest data showed the annual inflation rate slowed to 2.9%, the lowest in three months, from 3.4% in February and below market expectations of 3.2%. Also, the core rate slowed to 2.2%, which is much lower than the rest of the Euro Area. In March, the Swiss National Bank raised its policy rate by 50 bps to 1.5%, following a similar move in December and bringing borrowing costs the highest since November 2008. The central bank also said that additional hikes in the policy rate could not be ruled out to ensure price stability over the medium term.

Swiss Franc Eases after Inflation Data

The Swiss franc strengthened to 0.91 per USD, approaching the robust levels of the last week, after the Swiss National Bank moved forward with a 50bps increase in borrowing costs as expected, citing a renewed rise in inflationary pressure and discarding the recent turmoil in the banking sector and the Credit Suisse takeover. The central bank noted that measures announced by the federal government, FINMA, and the SNB had put a halt to the crisis and reiterated it was providing large amounts of liquidity assistance in Swiss francs and foreign currencies, backed by collateral and subject to interest. Inflation in Switzerland unexpectedly rose to 3.4% in February, overshooting market expectations of 3.1% and SNB forecasts of 3%.







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Swiss Franc Appreciates after SNB Hikes Rates

The Swiss franc strengthened past the 0.925 per USD mark, approaching the six-month high of 0.91 touched on March 13th amid expectations of tight policy from the SNB while concerns over the health of Swiss banks eased. The Swiss government oversaw the takeover of Credit Suisse by UBS after customer outflows and waning confidence in the former posed a systemic risk to the whole banking sector. As stability for Swiss banks somewhat returns, the Swiss National Bank is broadly expected to raise its key rate by 50bps this week and extend its fight against accelerating consumer prices, in line with previous pledges by policymakers due to increasing risks of second-round inflationary pressure. Domestic inflation unexpectedly rose to 3.4% in February, overshooting market expectations of 3.1% and SNB forecasts of 3%. The central bank is also expected to continue being active in currency markets to prevent downward pressure on the franc that magnifies inflation.

Swiss Franc Holds Gains Ahead of SNB

The Swiss franc was 1% stronger against the dollar at above 0.92, after falling more than 2% in the previous session, as investors calmed somewhat and Credit Suisse shares jumped 30% after the bank announced that it will be borrowing up to 50 billion Swiss francs from the Swiss central bank under a covered loan facility and a short-term liquidity facility. On Wednesday, Credit Suisse's stocks plunged as much as 31% and trading for several European banks was halted after the Saudi National Bank ruled out increasing its stake a day after the bank revealed it had found “material weaknesses” in its financial reporting processes for 2022 and 2021. On the monetary policy front, a surprise acceleration in Swiss inflation raised expectations the SNB will need to keep hiking rates. Consumer prices in Switzerland rose by 3.4% annually in February, well above market expectations of a 3.1% gain and SNB forecasts of 3%.

Swiss Franc Rebounds on Swiss National Bank Loan Announcement

The Swiss franc strengthened past 0.92 per USD, approaching the 18-month high of 0.9 touched on February 1st as fears surrounding the US financial sector pressured the dollar and erased expectations of sharp rate increases by the Federal Reserve. On the other hand, the hawkish outlook for the Swiss National Bank supported the local currency as policymakers continued to flag risks of elevated inflation due to the second-round effects of high energy prices. Domestic inflation jumped to 3.4% in February, well above the SNB's forecasts of 3% and market expectations of 3.1%, adding to bets that the central body will continue its rate-hiking path next week. Additionally, recent data showed that foreign exchange reserves at the SNB fell to CHF 770.6 billion in February, the lowest since 2019, suggesting the SNB was intervening in currency markets to support the franc.

Swiss Franc Appreciates Sharply

The Swiss franc weakened to around 0.94 per USD at the beginning of March, hovering around its lowest since late November as expectations of a hawkish Federal Reserve supported a sharp rebound for the dollar. The franc was also pressured by the stall in the Swiss GDP in the fourth quarter, which ?ountered the expectations of a slight 0.1% growth rate and limited the room for the increases in interest rates by Swiss National Bank. Consumer prices rose by 3.3% in February, halting the economy's momentum of slowing inflation and jumping above analysts' forecasts of 2.9%. The data highlighted SNB Chairman Jordan's concerns about inflation still presenting upside risks due to second-round effects and ramped-up bets of more rate hikes by the central body.

Swiss Franc Hovers at 3-Month Low

The Swiss franc weakened past 0.92 per USD from an 18-month high of 0.906 touched on February 2, as investors continued to gauge the outlook of monetary tightening by the Swiss National Bank. The sharp slowdown in Swiss inflation limited expectations of how much further the SNB would raise its benchmark borrowing cost. December's price figures showed that inflation slowed to 2.8% in Switzerland, below the SNB's projection of 3% and market estimates of 2.9%. Still, Chairman Jordan underscored further rate hikes should not be ruled out since second-round inflation threats are still prevalent in the country's economy. The SNB raised its key rate by 175bps last year, lifting borrowing costs out of the negative territory for the first time since 2011. Elsewhere, a strong US jobs report suggested the Federal Reserve could stay hawkish with its monetary policy for longer.

Swiss Franc Weakens Further from 18-Month High

The Swiss franc weakened to 0.92 per USD from the 1-year high of 0.916 touched on January 16th, pressured by a dollar rebound as investors continued to gauge the outlook of monetary tightening by the Swiss National Bank and the Federal Reserve. The sharp slowdown in Swiss inflation limited expectations on how much further the SNB would raise its benchmark borrowing cost, thus, weighing down on the local currency. December's price figures showed that inflation slowed to 2.8% in Switzerland, below the SNB's projection of 3% and market estimates of 2.9%. Still, Chairman Jordan underscored further rate hikes should not be ruled out since second-round inflation threats are still prevalent in the country's economy. The SNB raised its key rate by 175bps last year, lifting borrowing costs out of the negative territory for the first time since 2011.

Swiss Franc Weakens from 1-Year High

The Swiss franc changed hands around the 0.93 USD level, remaining close to its ten-month high of 0.92 hit on January 10th and benefitting from the recent pullback in the greenback as investors continued to assess key economic data for hints on the tightening outlook of major central banks. December’s price figures showed that inflation slowed to 2.8% in Switzerland, below the SNB’s projection of 3% and market estimates of 2.9%, easing the central bank’s urgency for aggressive tightening. Still, Chairman Jordan underscored further rate hikes should not be ruled out since second-round inflation threats are still prevalent in the Swiss economy. The SNB raised its key rate by 175bps last year, lifting borrowing costs out of the negative territory for the first time since 2011.

Swiss Franc Hovers Close to 10-Month High

The Swiss franc changed hands at $0.93 at the beginning of 2023, remaining close to its strongest level since end-March, as investors welcomed Swiss CPI data showing headline inflation slowed more than expected in December. Still, it remained close to August's three-decade high of 3.5% and well above the Swiss National Bank's target of 0-2%. The central bank has hiked interest rates by 175 bps in 2022, pushing borrowing costs to the highest since 2008 to ensure price stability and opening the gates for more policy tightening in 2023. Last year, the Swiss franc was broadly unchanged against the USD, as investors rushed for safety amid fears of a global recession and prospects of rising interest rates due to stubbornly high inflation.

Swiss Franc Holds at 9-Month Highs After CPI Data

The Swiss franc hovered around $0.92 at the beginning of 2023, remaining close to its strongest level since end-March, as investors took a wait-and-see-approach ahead of Swiss CPI data due on Tuesday. Markets priced in a slight slowdown in headline inflation to 2.9% in December from 3% the month before, still remaining close to August's three-decade high of 3.5% and well above the Swiss National Bank's target of 0-2%. The central bank hiked interest rates by 175 bps in 2022, pushing borrowing costs to the highest since 2008 to ensure price stability and opening the gates for more policy tightening in 2023. Last year, the Swiss franc was broadly unchanged against the USD,  as investors rushed for safety amid fears of a global recession and prospects of rising interest rates due to stubbornly high inflation.

Swiss Franc at 9-Month Highs Ahead of CPI Data

The Swiss franc strengthened to 0.925 per USD, approaching an 8-month high of $0.9244 touched on December 14th as investors assess the latest monetary policy decision. The Swiss National Bank raised its key policy rate by 50bps to 1%, as widely expected, taking borrowing costs to their highest since 2008 and adding to the 175bps in interest rate hikes since June. Policymakers also noted that further interest rate increases cannot be ruled out in coming meetings, as the central bank moves to curb the current risks of second-round effects on price growth. Updated forecasts by the SNB show that inflation is expected to end the year at 3%, well below previous projections of 3.4%, before returning to the 2% level by the end of 2023. In the meantime, Chairman Jordan stated that the central bank will continue to sell foreign currency from its reserves to support the franc and control import inflation.

Swiss Franc Approaches 8-Month High

The Swiss franc was at 0.93 per USD, weakening slightly from the eight-month low of 0.925 touched on December 14th amid a rebound for the dollar while investors digested the Swiss National Bank’s interest rate hike. The central bank raised its key policy rate by 50bps to 1%, as widely expected, taking borrowing costs to their highest since 2008 and adding to the 175bps in interest rate hikes since June. Policymakers also noted that further interest rate increases cannot be ruled out in coming meetings, as the central bank moves to curb the current risks of second-round effects on price growth. Updated forecasts by the SNB show that inflation is expected to end the year at 3%, well below previous projections of 3.4%, before returning to the 2% level by the end of 2023. In the meantime, Chairman Jordan stated that the central bank will continue to sell foreign currency from its reserves to support the franc and control import inflation.

Swiss Franc Eases from 8-Month High Following SNB

The Swiss franc was around 0.94 per USD, hovering close to the eight-month high of 0.93 amid the recent decline in the greenback as investors awaited the Swiss National Bank’s last interest rate decision of the year this week. The central bank is expected to deliver a 50bps interest rate increase to 1% to further curb inflation, extending the tightening cycle after lifting borrowing costs to positive territory for the first time since 2011 in the prior meeting. Inflation in Switzerland was steady from the prior month at 3% in November, in line with market expectations but well below the central bank’s forecasts of 3.4%. Still, SNB Chairman Jordan highlighted the importance of tighter policy as inflation expectations remain above target. Besides its key interest rate, the SNB could also combat inflation with support to the domestic currency by issuing short-term bills, reducing the supply of francs.

Swiss Franc Hovers Close to 8-Month High

The Swiss franc weakened to 0.95 per USD from the near three-month high of 0.94 hit on November 23rd as investors continued to assess economic data for hints on the tightening outlook for the Swiss National Bank. The Swiss economy expanded by 0.2% in the third quarter from the downwardly revised 0.1% in the second quarter, missing market expectations of a 0.3% growth and raising doubts on whether the SNB will remain with its hawkish outlook. Chairman Jordan previously stated there is a high probability that the central bank will further tighten policy in the bank’s next decision, as current interest rates are low given the elevated inflation expectations. Pledges of tighter policy came despite the recent slowdown in price growth as annual inflation was at 3% in October, well below central bank expectations of 3.4% and August's 29-year peak of 3.5%. The SNB raised its policy rate by 75bps in its last meeting, lifting borrowing costs to positive territory for the first time since 2011.

Swiss Franc Depreciates from 3-Month High

The Swiss franc strengthened to the 0.94 per USD mark in the end of November, hovering at three-month highs with support from a weaker dollar as the slowing US economy drove Fed policymakers to signal lower rate hikes in upcoming meetings. In turn, hawkish signs from the Swiss National Bank continued to support the domestic currency. SNB Chairman Jordan stated that there is a high probability that the central bank will further tighten policy in the bank’s next decision, as current interest rates are low given the elevated inflation expectations. Pledges of tighter policy came despite the recent slowdown in price growth as annual inflation was at 3% in October, well below central bank expectations of 3.4% and August's 29-year peak of 3.5%. The SNB raised its policy rate by 75bps in its last meeting, lifting borrowing costs to positive territory for the first time since 2011.

Swiss Franc Approaches 3-Month High

The Swiss franc weakened to 0.95 per USD from the three-month high of 0.94 touched on November 11th, pressured by a rebound for the greenback as recession concerns and hawkish signals from the Federal Reserve drove investors to the dollar. Still, signals of tight policy by the Swiss National Bank supported the franc to remain well above the 3-1/2-year low of 1.01 touched November 3rd. Swiss National Bank Chairman Jordan stated that there is a high probability that the central bank will further tighten policy in its upcoming meeting, as current interest rates are low given the elevated inflation expectations. The hawkish signals were given despite the recent slowdown in price growth as the latest data pointed to an annual inflation of 3% in October, well below central bank expectations of 3.4% and August's 29-year peak of 3.5%. The SNB raised its policy rate by 75bps in its last meeting, lifting borrowing costs to positive territory for the first time since 2011.

Swiss Franc Depreciated from 3-Month High

The Swiss franc strengthened to 0.94 per USD, the strongest since April and nearly 8% higher since hitting the 3-1/2-year low of 1.01 per USD on November 3rd, as hawkish signals from SNB officials ramped up demand for the local currency. Swiss National Bank Chairman Jordan stated that there is a high probability that the central bank will further tighten policy in its upcoming meeting, as current interest rates are low given the elevated inflation in the Swiss economy. The hawkish signals were given despite the recent slowdown in price growth. The latest data pointed to an annual inflation of 3% in October, well below central bank expectations of 3.4% and market forecasts of 3.2%, marking a second consecutive decline from the 29-year peak of 3.5% hit in August. The SNB raised its policy rate by 75bps in its last meeting, lifting borrowing costs to positive territory for the first time since 2011.

Swiss Franc Extends Rebound

The US Dollar exchange rate decreased below 0.94 Swiss Franc in the foreign exchange interbank market.

Swiss Franc traded below 0.94

The Swiss franc strengthened past 0.97 per USD, appreciating nearly 5% since hitting the 3-1/2-year low of 1.01 per USD on November 3rd as cooler-than-expected inflation in the US dented dollar demand. Domestically, investors continued to weigh on the extent that the SNB will tighten monetary policy as inflation also slows. The latest data pointed to an annual price growth of 3% in October, well below central bank expectations of 3.4% and market forecasts of 3.2%, marking a second consecutive decline from the 29-year peak of 3.5% hit in August. In the meantime, the unemployment rate also beat expectations at 1.9% in October, remaining at a 21-year low. Still, SNB Governor Jordan flagged the need for another rate hike since inflation expectations remain elevated in the medium-term. The SNB raised its policy rate by 75bps in its last meeting, lifting borrowing costs to positive territory for the first time since 2011.

The Swiss franc strengthened to above dollar parity, rebounding from the 3-1/2-year low of 1.01 per USD touched on November 3rd, benefitting from the greenback’s decline following the release of the October US jobs report. Domestically, investors continued to weigh on the extent that the SNB will tighten monetary policy as inflation continued to slow. The latest data pointed to an annual price growth of 3% in October, well below central bank expectations of 3.4% and market forecasts of 3.2%, marking a second consecutive decline from the 29-year peak of 3.5% hit in August. In the meantime, the unemployment rate was also below expectations at 1.9% in October, beating expectations and remaining at a 21-year low. Still, SNB Governor Jordan flagged the need for another rate hike since inflation expectations remain elevated in the medium-term. The SNB raised its policy rate by 75bps in its last meeting, lifting borrowing costs to positive territory for the first time since 2011.

Swiss Franc Recovers to Trade Above USD Parity

The Swiss franc strengthened to trade above dollar parity, appreciating from the over three-year low of 1.005 per USD touched on October 14 after reports indicated that Fed policymakers may slow the pace of rate hikes to prevent overtightening, easing demand for the greenback. Domestically, investors continued to weigh on the extent that the SNB may tighten monetary policy following more optimistic inflation figures. The latest data pointed to an annual price growth of 3.3% in September, below expectations of 3.5% and easing the pressure for the SNB to hike rates aggressively. The central bank raised its policy rate by 75bps in its last meeting, lifting borrowing costs to positive territory for the first time since 2011.

Swiss France Strengthens Above USD Parity

The Swiss Franc remained at parity with the US dollar in mid-October, closing in on the lowest since May 2019 as the gap between interest rates in Switzerland and the United States remains wide. The Swiss Central Bank raised its policy rate by 75bps to 0.5% in September, lifting borrowing costs to positive territory for the first time since 2011. But, the latest data pointed to annual price growth of 3.3% in September, below expectations of 3.5%, easing bets that the SNB will continue to hike interest rates aggressively. At the same time, the US Federal Reserve has lifted the fed funds rate to 3.25%, the highest since 2008, and hotter-than-expected inflation is forcing the central bank to follow a hawkish path.

Swiss Franc Remains at Parity with USD

USDCHF increased to a 3-year high of 1.0071

Swiss Franc Hits 3-year Low

The US Dollar exchange rate rose above 1 Swiss Franc in the foreign exchange interbank market.

Swiss Franc traded above 1

The Swiss franc weakened to the 0.99 per USD mark in October, hovering close to levels not seen since June, pressured by a consistently strong US dollar as expectations of aggressive tightening by the Federal Reserve supported demand for the greenback. In the meantime, investors continued to assess expectations of further tightening by the Swiss National Bank in its efforts to curb inflation. The latest data pointed to an annual price growth of 3.3% in September, below expectations of 3.5% by markets and 3.4% by the central bank, easing bets that the SNB will continue to hike interest rates as aggressively. The central bank raised its policy rate by 75bps in its last meeting, lifting borrowing costs to positive territory for the first time since 2011.

Swiss Franc Approaches 3-Month Low

The Swiss franc was at the 0.99 per USD mark in late September, hovering close to levels not seen since June, tracking the retreat in other European currencies as expectations of aggressive tightening by the Federal Reserve strengthened the US dollar. According to fed funds futures and the central bank’s dot plot chart, the Fed’s borrowing costs are expected to top at 4.6% by March. Domestically, the Swiss National Bank raised its policy rate by 75bps in its last meeting, lifting borrowing costs to positive territory for the first time since 2011. The SNB also signaled that the interest rate will likely continue to increase in the coming meetings as it aims to counter increased inflationary pressure and limit price growth in goods and services that have so far been less affected.

The Swiss franc weakened to 0.975 per USD, after the National Bank raised its policy rate by 75 bps, disappointing some investors that were expecting a larger hike. Still, the move lifted borrowing costs to positive territory for the first time since 2011. The central bank signaled that the interest rate will likely continue to increase in the coming meetings as it aims to counter increased inflationary pressure and limit price growth in goods and services that have so far been less affected. Earlier, the US Federal Reserve also hiked interest rates by 75 bps and hinted at bigger increases in the next months.

Swiss Franc Depreciates After Rate Hike

The Swiss franc hovered close to 0.97 per USD, depreciating from the four-week high of 0.95 touched earlier in September as investors assessed the outlook of the Swiss economy ahead of the SNB’s policy decision this week. The Swiss government significantly slashed growth estimates to project a 2% expansion this year, hampered by uncertain energy supplies and sharp price growth. The latest CPI figures showed an annual inflation rate of 3.5% in August, the highest since 1993, and SNB Chairman Thomas Jordan said price pressures have become more broad-based and higher inflation may persist for years to come. Upside risks to inflation prompted expectations that the central bank will hike rates by 75bps this week to lift them out of negative territory for the first time since 2014. Investors also await a rate hike of a similar magnitude by the Federal Reserve one day prior to the SNB's decision.

Swiss Franc Slightly Weaker Ahead of SNB

The US Dollar exchange rate rose above 0.985 Swiss Franc in the foreign exchange interbank market.

Swiss Franc traded above 0.985

The Swiss franc hovered close to 0.98 per USD, the lowest since July 14th, as the heightened global recession risks exacerbated by the worsening energy crisis in Europe sent investors to the safety of the dollar. Domestically, the Swiss economy expanded 0.3% on quarter in the three months to June of 2022, down from a 0.5% rise in the previous period, and slightly below market forecasts of 0.4%. Meanwhile, the latest CPI figures showed the annual inflation rate unexpectedly rose to 3.5% in August, the highest since August 1993, which was way above the central bank's target of 0-2%. Swiss National Bank President Thomas Jordan recently warned that price pressures have become more broad-based and higher inflation may persist for years to come. The central bank raised interest rates by a half point in June and there were reports that policymakers are considering a 50bps-75bps rate hike at the next meeting this month.

Swiss Franc at Over 7-Week Low

The Swiss franc strengthened to the 0.95 per USD level, approaching the three-month high of 0.947 from the beginning of the month, tracking a slight retreat for the greenback and outlooks of a hawkish Swiss National Bank. Domestic unemployment figures remained at a 21-year low of 2 percent in July for the third consecutive period, pointing to a robust job market that gives space for the SNB tighten monetary policy. Previously, reports circled that policymakers are considering a 50bps-75bps rate hike for the central bank’s next meeting, extending its recent tightening pivot to curb inflation that lingers above the central bank’s target of 0-2%. The latest CPI figures showed an annual inflation fate of 3.5% in July, stagnating from the previous month for the first time since December and suggesting inflation may have peaked. In the meantime, the franc crossed parity with the euro to hover at 7-year highs.

The Swiss franc hovered close to 0.96 per USD, weakening from the three-month high of 0.95 amid a stronger US dollar, while lower than expected inflation figures eased bets that the SNB will be overly aggressive with monetary tightening. Annual inflation in Switzerland stagnated at 3.4% in July, below estimates of 3.5%. Previously, reports circled that policymakers are considering a 50bps-75bps rate hike for the central bank’s next meeting, extending its recent tightening pivot to curb inflation that lingers above the central bank’s target of 0-2%. In its last meeting, the SNB unexpectedly increased its key policy rate by 50bps, its first rate hike since 2007 after holding the rate at a record low of -0.75% since 2015. In the meantime, the franc crossed parity with the euro to trade at 7-year highs.

Swiss Franc Eases from 3-Month High

The Swiss franc was at the 0.95 per USD level in early August, hovering around its highest level since April as recession worries increased the appeal for the franc’s safe-haven status. The currency was also supported by the dollar’s retreat after a slew of concerning economic data eased expectations of an overly hawkish Fed. Domestically, a Swiss newspaper reported that SNB policymakers are considering a 50bps-75bps rate hike for the central bank’s next meeting, extending its recent tightening pivot to curb 38-year high inflation. In its last meeting, the SNB unexpectedly increased its key policy rate by 50bps, its first rate hike since 2007 after holding the rate at a record low of -0.75% since 2015. In the meantime, the franc crossed parity with the euro to trade at 7-year highs.

Swiss Franc Hovers at 3-Month High

The Swiss franc appreciated to 0.96 per USD, the strongest in nearly four weeks as heightened recession fears increased the appeal for the franc’s safe-haven status. The currency was also supported by a hawkish Swiss National Bank. Swiss newspaper Schweiz am Wochenende reported that SNB policymakers are considering a 50bps-75bps rate hike for the central bank’s next meeting, extending its recent tightening pivot to curb 38-year high inflation. Switzerland's elevated CPI supports Chairman Jordan’s remarks that restrictive monetary policy is necessary to bring inflation back to the 2% target, as the latest forecasts project price growth to only normalize by 2025 at the current borrowing costs. In its last meeting, the SNB unexpectedly increased its key policy rate by 50bps, its first rate hike since 2007 after holding the rate at a record low of -0.75% since 2015. In the meantime, the franc crossed parity with the euro to trade at 7-year highs.

Swiss Franc at Near 4-Week High

The Swiss franc appreciated to 0.97 per USD, rebounding from the one-month low of 0.99 hit July 14, tracking a weaker dollar as heightened recession fears eased bets that the Fed would hike its fund’s rate by an aggressive 100bps this month. In the meantime, Swiss newspaper Schweiz am Wochenende reported that SNB policymakers are considering a 50bps-75bps rate hike for the central bank’s next meeting, extending its recent hawkish turn to curb 38-year high inflation. Switzerland's elevated CPI supports Chairman Jordan’s remarks that restrictive monetary policy is necessary to bring inflation back to the 2% target, as the latest forecasts project price growth to only normalize by 2025 at the current borrowing costs. In its last meeting, the SNB unexpectedly increased its key policy rate by 50bps, its first rate hike since 2007 after holding the rate at a record low of -0.75% since 2015.

Swiss Franc Rebounds

The Swiss franc weakened past 0.97 per USD in early July, the lowest in three weeks, as the precarious economic environment in Europe amid uncertain energy supply drove investors to prefer the safety of the dollar over that of the franc. Still, the franc continued to gain on the euro and crossed parity to trade a 7-year high, amid expectations of aggressive hikes by the SNB. Switzerland's elevated CPI supports Chariman Jordan’s remarks that restrictive monetary policy is necessary to bring inflation back to the 2% target, as the latest forecasts project price growth to only normalize by 2025 at the current borrowing costs. In its last meeting, the SNB unexpectedly increased its key policy rate by 50bps, its first rate hike since 2007 after holding the rate at a record low of -0.75% since 2015. In the meantime, the SNB sharply decreased its foreign exchange reserves by CHF 76 billion, further supporting the currency.

Swiss Franc Depreciates to 3-Week Low

The Swiss franc was at the 0.96 per USD level, depreciating from the 2-month high of 0.949 touched on June 29, tracking the momentary retreat of safe-haven assets. Still, higher than expected inflation data strengthened expectations of further hikes by the SNB. Annual inflation rose to 3.4% in June, the highest since 1993 and above the central bank’s expectations of 3.2% for Q3. The CPI readings support Chariman Jordan’s remarks that more rate hikes will be needed to curb inflation back to the 2% target, as the latest forecasts project price growth to only normalize by 2025 at the current borrowing costs. In its last meeting, the SNB unexpectedly increased its key policy rate by 50bps. It was the central bank's first rate hike since 2007 after holding the rate at the record low of -0.75% since 2015. At the same time, Swiss overnight sight deposits fell by its largest amount in more than a decade, suggesting the central bank is no longer capping the franc’s appreciation.

Swiss Franc Slightly Weakens

The Swiss franc strengthened further to the 0.95 per USD level in late June, the highest in two months, supported by a flight to safe currencies amid recession fears and a hawkish Swiss National Bank. Chairman Jordan said that more interest rate hikes will be needed to curb Swiss inflation back to the 2% target, as the latest inflation forecasts project price growth to only normalize by 2025 at the current borrowing costs. At the same time, Swiss overnight sight deposits fell by its largest amount in more than a decade, suggesting the central bank is no longer capping the franc’s appreciation. In its last meeting, the SNB unexpectedly increased its key policy rate by 50bps. It was the first rate hike by the SNB since 2007 after holding the rate at the record low of -0.75% since 2015. In the meantime, the franc crossed parity with the euro for the first time since January of 2015.

Swiss Franc Strengthens, Crosses Parity with Euro

The Swiss franc strengthened past 0.96 per USD in late June, the highest in three weeks, as risk-off sentiment due to recession fears ramped up demand for safe currencies. Support for the franc also came from further hawkish signals from the Swiss National Bank. Chairman Jordan said that further monetary policy tightening will be needed to bring inflation back to the central bank’s target of 2%, pointing out that the latest inflation forecasts project price growth to only normalize by 2025 at the current borrowing costs. In its last meeting, the SNB unexpectedly increased its key policy rate by 50bps. It was the first rate hike by the SNB since 2007 after holding the rate at the record low of -0.75% since 2015, aimed to prevent higher inflation on spreading more broadly to Swiss goods and services. In the meantime, the State Secretariat of Economic Affairs downwardly revised year-end growth GDP growth expectations to 2.6%, while the SNB held forecasts at 2.5%.

Swiss Franc at 3-Week High

The Swiss franc strengthened to 0.98 per USD, rebounding sharply from near three-year lows of parity with the dollar after the Swiss National Bank unexpectedly raised its policy rate by 50bps in its June meeting. It was the first rate hike by the SNB since 2007 after the central bank kept its policy rate at record lows of -0.75% since 2015, aimed to prevent higher inflation on spreading more broadly to Swiss goods and services. The policy statement also noted that the SNB will be active in the foreign currency market, with Chairman Jordan adding that the bank will sell francs to prevent significant weakening as the Fed accelerated its tightening cycle. Meanwhile, the State Secretariat of Economic Affairs cut year-end growth expectations to 2.6%, compared to previous prospects of 2.8%, while the SNB held forecasts to 2.5%.

Swiss Franc Strengthens Following SNB

The Swiss franc was at parity with the US dollar, nearly matching the three-year lows of 1.006 per USD from mid-May as investors await information on the Swiss National Bank’s guidance ahead of their policy decision. While the SNB is expected to hold the interest rate at the record-low of -0.75%, investors will be on the lookout for signals on the start of the bank’s highly expected tightening cycle. Chairman Jordan previously said that the central bank sees the risk of second-round effects of inflation, while board member Maechler pledged higher rates should medium-term inflation projections deviate from the central bank’s target of 0-2%, prompting expectations that the SNB's first rate hike since 2007 is imminent. Annual inflation rose to 2.9% in May, the highest in nearly 14 years and well above forecasts. Meanwhile, the State Secretariat of Economic Affairs cut year-end growth expectations to 2.6%, compared to previous prospects of 2.8%.

Swiss Franc Returns to Parity with USD

The Swiss franc weakened past 0.99 per USD, not far from the three-year lows touched in early May when trading at parity with the dollar, as higher than expected inflation in the US ramped up bets of tighter policy by the Fed. Meanwhile, investors continued to assess the Swiss National Bank’s guidance ahead of the bank’s policy decision this week. SNB board member Maechler previously said the central bank will not hesitate to tighten policy should medium-term expectations deviate from the central bank’s target of 0-2%, prompting expectations that the SNB's first rate hike since 2007 is imminent. Annual inflation rose to 2.9% in May, the highest in nearly 14 years and well above forecasts, lifted by surging costs of energy and food.

Swiss Franc Nears Parity

The Swiss franc weakened past 0.975, the lowest in three weeks, pressured by the greenback’s strong momentum in the second week of June while investors continued to assess how higher than expected inflation data could impact the policy stance by the Swiss National Bank. Annual inflation rose to 2.9% in May, the highest in nearly 14 years and well above forecasts. While SNB members have repeatedly stated that the bank sees higher inflation levels as transitory, board member Maechler said the central bank will not hesitate to tighten policy should medium-term expectations deviate from the bank’s target of 0-2%. The SNB has held its interest rate unchanged at -0.75% since the start of 2015. In its latest meeting, the bank pledged to curb the franc’s rise in its latest policy meeting as the safe-haven currency rose to a 7-year high against the euro after Russia’s invasion of Ukraine.

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