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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
EURCHF
- Strong move lower in EURCHF over the past hour as relative diverging central bank headlines have prompted an acceleration to the downside.
- The Swiss franc has been bolstered as Swiss National Bank President, Thomas Jordan, says it is ready to act if inflation pressures continue.
- “Uncertainty requires vigilance” and “the SNB will take care to maintain price stability,” he said at an event in Baden, northwest of Zurich. “We see the risk of second-round effects.”
- On the contrary, ECB rate hike pricing has pulled back sharply in the last 40 minutes, with the Dec 2022 meeting rate now seen as low as 0.436% vs just above 0.50% at around 1520BST, in turn weighing on the single currency.
- Comes on the back of MNI's Policy piece which in part cites ECB sources downplaying Dutch central bank chief Knot's call for a possible 50bp hike.
- EURCHF has sold off close to 1%, taken out the lows of the week while also breaking a short-term uptrend line. Breaching back below the 1.0400 mark, the short-term focus turns to 1.0380 and 1.0363, the May 12 low.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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