A week of PMI data for GBP/CHF

A week of PMI data for GBP/CHF The UK was the main driver this week between the two economies with the Swiss economy fairly thin on the ground in terms of data releases. We had construction, services and manufacturing PMI from the UK, with only construction improving on forecasts posting a revised figure of 55.9. … Read more A week of PMI data for GBP/CHF

Pound rallies against the franc and counterparts

Pound rallies against the franc and counterparts Fresh data out of the UK has set the pound on a rally against a number of its counterparts including the Swiss franc this week. Kicking the week off CPI figures from the UK turned negative for the first time since March 1960. A shock too many but … Read more Pound rallies against the franc and counterparts

UK goes to the polls and Swiss franc trumps counterparts

UK goes to the polls and Swiss franc trumps counterparts Here in the UK polls opened at 7 o clock this morning for the 2015 UK General Election, in which reporters are calling the closest election for over a century. Various polling agencies have pointed to a hung parliament after stations close tonight. Therefore, following … Read more UK goes to the polls and Swiss franc trumps counterparts

Swiss National Bank reports 30 billion loss

Swiss National Bank reports 30 billion loss The Swiss central bank reported its biggest quarterly loss on record yesterday of 30 billion, this hole in the SNB books has been attributed to the recent appreciation in the franc. The SNB is still reeling from its decision to remove a three and half year peg against … Read more Swiss National Bank reports 30 billion loss

GBP/CHF British manufacturing and Swiss unemployment both fall

There was a shortfall of data this week from both economies, however, although there was a lack of data the figures released did enough to have a negative impact. Kicking off the week we had British retails sales year on year which was estimated at 0.5%, however, these equalled previous figures of 0.2%. Many analysts … Read more GBP/CHF British manufacturing and Swiss unemployment both fall

GBP/CHF Swiss finance minister calls for new peg

GBP/CHF Swiss finance minister calls for new peg It was reported this week that Swiss Finance minister Eveline Widmer-Schlumpf commented that they should be considering a new minimum exchange rate. The report have done little to boost confidence with investors, since the SNB decision to remove the peg the consequences have plagued them since, with … Read more GBP/CHF Swiss finance minister calls for new peg

Swiss economy still reeling from SNB decision

Central bank move labelled a “disaster” for Swiss economy As the snowstorm continues to envelop the UK, across the channel storms of a different kind seem to be brewing. With talks regarding the Greek debt situation dominating headlines and tensions between the two key players – Greece and Germany – rising, the rest of the … Read more Swiss economy still reeling from SNB decision

Swiss Franc hits two week low amid rumours of central bank intervention

Is SNB deliberately weakening currency? The Swiss franc fell to a two week low today, amid rumours of central bank intervention by the Swiss National Bank (SNB) in an effort to stem its current rally. After the critical move from the SNB in January to remove the minimum peg against the euro, we saw the franc … Read more Swiss Franc hits two week low amid rumours of central bank intervention

Global growth forecast and GBP/CAD exchange rates

Large movements in the currency markets After the shock of the SNB’s unpegging of the Swiss franc from the euro on Thursday last week, the currency markets saw some of the largest recorded one-day movements – with the volatility exacerbated by the Swiss central bank’s decision to lower interest rates on deposits to -0.75%. The news … Read more Global growth forecast and GBP/CAD exchange rates

Swiss National Bank ends minimum exchange rate against the euro

Swiss National Bank ends minimum exchange rate against the Euro This morning we had breaking news from the Swiss National Bank (SNB) announcing that they will end their minimum exchange rate against the euro which has been pegged at CHF1.20 for over four years. The SNB introduced the policy in 2011 in the aftermath of … Read more Swiss National Bank ends minimum exchange rate against the euro