SNB: 3 years minus 5 days
3 years minus 5 days, the Swiss National Bank delivered its stealth intervention to the cap the soaring franc as capital fled into the safety of the Swiss currency during the Eurozone debt. Now that EURCHF has fallen to 21-month lows, losing 5% from its 2013 highs, the SNB is back to reminding markets of its pledge to defend the franc and that the “environment has deteriorated for Switzerland”. What would this mean 3 days ahead of the ECB decision? Any impact on the already falling EURCHF? Will the ECB do the work for the SNB, or will the Swiss intervention army be deployed yet again? One of our CHF Premium trades is currently netting more than 150 pips. Today, we added a new CHF trade with 2 charts ahead of tomorrow's Swiss Q2 GDP. Trades & charts here.
|GDP (Q2) (q/q)|
|0.5%||0.5%||Sep 02 5:45|
|GDP (Q2) (y/y)|
|1.7%||2.0%||Sep 02 5:45|
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