Parity Party for the Swissy
The Swiss Franc has reached parity with the US dollar. Apart from the general weakness of the greenback across the board, also the Swiss National Bank has a role in bringing USD/CHF to 1. USD/CHF reached a year-to-date low of 0.9960 and trades now at a perfect 1.0000. The pair last reached this rate in [...]
Swiss Franc Outlook – September 14-19 2009
The Swiss Franc has been one of the currencies that most enjoyed the dollar’s big fall last week. Together with the very crowded week ahead, the Swissy sure is worth to watch. Here’s an outlook for 5 key events and a technical analysis for USD/CHF. USD/CHF forex chart with support and resistance lines Last week’s [...]
Even the Israeli Intervention is Short-Lived
Last week I was talking about the intervention that the Bank of Israel made in the forex markets, and how it worked. Well, also in a small country like Israel, central bank intervention is short-lived. A lesson for the Swiss National Bank… USD/ILS fell and fell, hurting Israeli exports, many of them to the US [...]
Central Bank Intervention – The Israeli Way
The Israeli Central Bank refused to accept the collapse of the dollar at the beginning of the week, and sent the local currency down by 4%, when the dollar lost ground everywhere. This can happen only in small countries. USD/ILS is a currency pair that doesn’t receive high volumes or much attention. Israel is a [...]
Forex Links for the Weekend
Here’s a bunch of interesting forex-related articles. All of them have a scope of more than a single day’s trading. James Chen talks about the tactics of scaling in and scaling out of a position. Adam Kritzer deals with one of my favorite issues: intervention by central banks. He states that the SNB is still [...]
SNB Intervention – Shortlived Indeed
The SNB intervened in the forex market to weaken the Swiss Franc. Though still above the levels before the intervention, USD/CHF has lost its hot air, and is now trading lower. A lesson about central bank interventions. On Wednesday, the Swiss National Bank intervened in the forex market in order to weaken the Swissy. Switzerland’s [...]
Central Banks Intervention – Great Trade Opportunity
In the forex market, huge volume makes even big interventions very hard. The SNB’s intervention had a short lived effect last time, and this time is no different – the correction will come. Such cases are great trade opportunities. The Swiss National Bank intervened in the forex market on March 12th in order to weaken [...]
Inflation Becoming Irrelevant in Forex
Inflation data, that is published all the time is becoming less and less important in these days of a global economic crisis. It doesn’t ignite price action as it used to up to the last summer. Up to the summer of 2008, Consumer Price Index (CPI) and Producer Price Index (PPI), played a big role [...]
ECB Rate Decision – A non event
Today, the European Central Bank will make a decision about the interest rate in the Eurozone. This is supposedly the biggest event this week, after last week’s Non Farm Payrolls in the US. Most economists and analysts are expecting a half a percent cut, from 2.5% to to 2%. But Jean Claude Trichet and his friends [...]
Forex Daily Analysis – December 18th 2008
The US dollar continues to plunge against all the currencies. Even the pund that lagged behind made a move forward. GBP/USD now above 1.56. The EUR/USD crossed another resistance line at 1.44, and aimed to breach the 1.45 line. Curretly it retracted back a little bit. Today’s imprtant data is Germany’s IFO Business Climate Survey, [...]
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