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This EUR:CHF and stock market reaction is a storm in a teacup, imho.
However, someone has won and someone has lost, big time, when
you factor in the violent change and magnify that by gearing.Never give up, never surrender.
There again usd Chf down 14% too.
we all know how precarious the dollar is….. another reason to unload dollars or consider doing so.
confidence ….
UBS are down over 10%, about the same as the whole stock market there. Now UBS weren’t in the best of shape not so long ago.
Swiss may have had other reasons apart from EcB qe, like the Greek
elections and the recent terrorists attacks in France, all would be
negative for the euro.I expect many will put a small Dax 10k short in the bottom drawer.
Never give up, never surrender.
Perhaps but if conditional QE gets announced the main benefactor would be dax ?
Do you think they will do QE or is it all words and no action? I mean, words alone have done pretty good…..
EcB have done wonders with words, almost to the point that
no action has been required, just the hint of action.This time I think they will roll out some 500bn euro(min)
qe program or whatever name they choose.It will lift euroland markets but will fail to address
the real issues as per Fed and BoJ qe programs.Never give up, never surrender.
We don’t know where the money wants OE on friday
and will US rth want to mimic US ooh.I am more interested in nextweek so will avoid too
much trading before we get OE settled.Never give up, never surrender.
January 12, 2015: “We took stock of the situation less than a month ago, we looked again at all the parameters and we are convinced that the minimum exchange rate must remain the cornerstone of our monetary policy,” SNB’s Jean-Pierre Danthine.
January 15, 2015: “Recently, divergences between the monetary policies of the major currency areas have increased significantly – a trend that is likely to become even more pronounced. The euro has depreciated considerably against the US dollar and this, in turn, has caused the Swiss franc to weaken against the US dollar. In these circumstances, the SNB concluded that enforcing and maintaining the minimum exchange rate for the Swiss franc against the euro is no longer justified.”
Three days is an age for a central banker 😉
How many banks took a hit when the Swiss Franc rocketed.
How much EcB qe will be required just to keep things on
the level with Ukraine and Greece and poor economies
and now this terror threat.Bottom line, can it help avoid another 2008
Never give up, never surrender.
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