Free Trial
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.
CHF
- Price action in G10FX has been largely uneventful to start the week. However, the Swiss Franc has gradually extended a recent strengthening trend.
- EURCHF (-0.27%) and USDCHF (-0.59%) have underperformed on Monday , with both pairs approaching firm support areas worth noting.
- For EURCHF, 1.0505/10 represents an area of multiple lows between April-May 2020. A breach of which, would constitute the lowest level seen since mid-2015 (a significant year for the SNB!)
- On a slightly shorter-term note, USDCHF is hovering just above 0.9100 horizontal support across the mid-August lows. Additionally, an upward sloping trendline across the 2021 lows intersects at 0.9085. A break of this technical point could have the potential to accelerate CHF strength and would target the August and June lows at 0.9019 and 0.8926 respectively.
- Of note, JPMorgan have added an outright EUR/CHF short to existing CHF/JPY position to increase bullish CHF exposure. They commented that "any tapering in the SNB's liquidity policy in response to the onset of inflation will automatically feed-through to the exchange rate because this will entail less intervention, and in the extreme case no intervention"
- For reference, Swiss CPI and Retail Sales data is scheduled for tomorrow
MNI/Bloomberg
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.
We are facing technical issues, please contact our team.
ok
Your request was sent sucessfully! Our team will contact you soon.
ok