Monday, January 9, 2012
USD continue to move higher against CHF touching levels we haven't seen since mid February of last year; the pair appears to be in a nice uptrend since Suisse National Bank intervened twice in August and September. Today's unemployment data from Switzerland could surprise; let's see if the employment situation in the small European country is closer to Germany, which is at the highest level since re unification or if it follow the Italian path.
Certainly a strong Swiss Franc is not helping national producers to sell their goods to the rest of Europe but we have to consider the efforts done by some Swiss areas to attract foreign investors suchlike tax cuts to new businesses.
a 5:42 AM
Friday, January 6, 2012
Wednesday, January 4, 2012
After three interventions from BOJ the pair is still moving lower, with few test of the past low of 76.30 recorded on march the 17th 2011 the pair touched a new low around 75.55 in early November.
Is it going to test it again or shall we expect another intervention before it moves to new lows? Exporters in Japan are struggling to still be profitable with goods they sell abroad.
a 5:07 AM