Posts Tagged ‘ SWISS FRANC ’

The Swiss nuke the Currency Markets with fixed Exchange Rates

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By John Galt September 6, 2011 – 07:35 ET The stunning story from Bloomberg this morning is only the beginning: Swiss National Bank Pledges Unlimited Currency Purchases Excerpt: The Swiss central bank imposed a ceiling on the franc’s exchange rate for the first time in more than three decades and pledged to defend the target with the “utmost determination.” The Swiss National Bank is “aiming for a substantial and sustained weakening of the franc,” the Zurich-based bank said in an e-mailed statement today. “With immediate…

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So much for the Surge in the Swiss Franc

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By John Galt August 17, 2011 – 06:55 ET The Bloomberg headline and story says it all: Franc Gains as Switzerland Stops Short of Peg Apparently the Swiss National Bank has not been in consultations with the Japanese Central Bank. The one year chart for the Swiss Franc speaks volumes on the failure of intervention by central banks and the inability to control daily, weekly, or monthly fluctuations. The addition of liquidity to dilute the Franc is akin to wasting one’s time by asking Bernanke…

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While Equities Rally Panicked Investors Drive Swiss 3 Month Yield Negative

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By John Galt August 15, 2011 – 22:45 ET The rally in world equities might seem to be providing a sigh of relief to investors and some governments world wide as a sign of calm and confidence might be returning to the markets but reality is, as always, found in the credit markets. This time the destination for a safe haven has been diverted from the Swiss currency and into Swiss bond futures. The 3 month Euroswiss futures for September 2011 have surged so much…

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Dollar v. Swiss Franc has Room to Run

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By John Galt August 15 2011 – 07:00 ET I noticed once again the big hoopla with the rumor the Swiss National Bank may or may not have started regarding the pegging to the Euro and the “sudden” price move in the USD/CHF cross. A quick look at the charts should give even the most casual observer the obvious observation that a 20% correction is more than warranted regardless of the rumor and 30% would not be a surprise. At this point in time, 70.70…

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Whatever you Do, Do Not click on THIS THREAD if you have a Weak Heart

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By John Galt August 2, 2011 Boom. No comment is necessary. (Top two charts from INO.com) Another all time high against the dollar…. BOOM! USD/JPY Maybe the Japanese will open up internment camps near Fukushima for anyone insane enough to buy dollars instead of Yen. That’s just brutal. Oh, and a death knell. Welcome to EpicFailureland. (Chart below from Yahoo Finance) I’ll have more tomorrow and on tonight’s show but let’s just say the Obama Economic Miracle is officially over. Now the next really super…

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8/1 Equity Market Epic Fail in 5, 4, 3, 2…..

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By John Galt August 1, 2011 Uh, so much for the Dow futures being up 180 last night….. Oops. Maybe the S&P 500 is roaring ahead to recoveryland: Oopsie again. MAYBE the NASDAQ and APPLEMANIA will save the day! Hmmmm…them damned TeaPartiers are sabotaging America once again. Maybe the dollar is surging against the Yen because after all, we’re just attempting to emulate them: Okay, can’t blame the Tea Party for this…let’s see if it is we can blame the Swiss: That pretty much sums…

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7/26: Dollar Continues to Crash against Yen and Swiss Franc

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By John Galt July 26, 2011 The charts tell the tale of the faith the investing world has in the U.S. Dollar and our political leadership as the Swiss Franc has now achieved another all time high against the dying dollar: Meanwhile, despite denials, it would appear another failed intervention by the Bank of Japan was attempted last night as this chart demonstrates either a huge computer error or more likely an epic failure of an attempt to buy dollars and sell Yen to weaken…

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The Other European Housing Crash that has the ECB worried

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By John Galt July 24, 2011 While the world sighed relief with the temporary resolution of the crisis in Greece by permitting an actual temporary default which is not a default according to the banksters, the European Union is far from out of the woods as trouble lurks in nation after nation and the myth that debt monetization was forbidden by the structure of the European Central Bank (ECB) has been shattered forever. In fact if one takes a moment to reflect on the growth…

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Massive Yen Strengthening Starting with Europe’s close today

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By John Galt July 20, 2011 Until 4 pm today the Yen was surging against the US Dollar as it appears another flight to safety is underway, including a flight away from the Euro and Dollar thus distorting the normal flight to safety most perceive in the markets. If the Yen breaks 78 and the BoJ decides to stand on the sidelines while capital floods into their currency along with the Swiss, it is a direct indication that the default risk in Europe has grown…

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7/17 1630 EDT: Swiss Franc Power Surge against Euro and Dollar

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By John Galt July 17, 2011 Right out of the gates, everyone seems to be fleeing for a flight to safety with the FOREX open (Quotes from NetDania) and into the Swiss Franc out of Euros and Dollars: Down over 1% on the open and as much as 1.23% into the 113 range. Against the dollar it has been down over 0.8% and the gap down is somewhat disturbing: These types of moves usually are precursors to some sort of major financial event as the…

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Switzerland Sends a Message: Debating creation of a Gold Franc

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By John Galt July 8, 2011 The Swiss are sending a message to the world per this article today from by Agnese Smith of Marketwatch:  Swiss Parliament to discuss gold franc From the article: ZURICH (MarketWatch) — The Swiss Parliament is expected later this year to discuss the creation of a gold franc — a parallel currency to the official Swiss franc, with the fringe initiative likely triggering a broader debate about the role of the precious metal in the Alpine nation. The initiative is…

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