{"id":14265,"date":"2020-01-16T06:56:53","date_gmt":"2020-01-16T05:56:53","guid":{"rendered":"https:\/\/bernstein-bank.com\/?p=14265\/"},"modified":"2020-01-16T06:56:53","modified_gmt":"2020-01-16T05:56:53","slug":"wheres-the-swiss-franc-going","status":"publish","type":"post","link":"https:\/\/bernstein-bank.com\/en\/wheres-the-swiss-franc-going\/","title":{"rendered":"Where&#8217;s the Swiss franc going?"},"content":{"rendered":"<table cellspacing=\"0\" cellpadding=\"4\">\n<tbody>\n<tr>\n<th>\n<h4 style=\"text-align: center;\"><span style=\"color: #e2b365;\">Gold<\/span>\u00a0 \u00a01553,43<br \/>\n(<span style=\"color: #ff0000;\">-0,18%<\/span>)<\/h4>\n<\/th>\n<th>\n<h4 style=\"text-align: center;\"><span style=\"color: #e2b365;\">EURUSD<\/span>\u00a0 \u00a01,1151<br \/>\n(<span style=\"color: #008000;\"> 0%<\/span>)<\/h4>\n<\/th>\n<th>\n<h4 style=\"text-align: center;\"><span style=\"color: #e2b365;\">DJIA<\/span>\u00a0 \u00a029067,50<br \/>\n(<span style=\"color: #008000;\">+0,15%<\/span>)<\/h4>\n<\/th>\n<th>\n<h4 style=\"text-align: center;\"><span style=\"color: #e2b365;\">OIL.WTI<\/span>\u00a0 58,27<br \/>\n(<span style=\"color: #008000;\">+0,36%<\/span>)<\/h4>\n<\/th>\n<th>\n<h4 style=\"text-align: center;\"><span style=\"color: #e2b365;\">DAX<\/span>\u00a0 \u00a013406,05<br \/>\n(<span style=\"color: #008000;\">+ 0,01%<\/span>)<\/h4>\n<\/th>\n<\/tr>\n<\/tbody>\n<\/table>\n<p align=\"justify\">What recently seemed to be a small market error is beginning to look like a frightening trend. The Swiss franc ignores absolutely any positive news in the world economy and keeps growing against all major currencies.<br \/>\nWho feels bad about it? Bad, above all, for the Swiss economy itself. Exports and production are becoming less competitive and tourists do not want to visit the &#8220;expensive country&#8221;, which is becoming even more expensive. We passed all this 8 years ago, when the Swiss Central Bank first conducted currency interventions and then set the bar at 1.20 per euro\/franc.<\/p>\n<p style=\"text-align: center;\"><strong><br \/>\nUSD\/CHF chart of the day<br \/>\n<\/strong><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-14266 aligncenter\" src=\"\/\/bernstein-bank.azureedge.net\/wp-content\/uploads\/2020\/01\/trading-news-USD-CHF.png\" alt=\"trading-news-USD-CHF\" width=\"600\" height=\"248\" \/><br \/>\nIf stock markets continue to grow, we will not see any currency interventions in the near future. But what happens when the markets start to fall? For example, from May, which is traditionally bad for the stock market? The flow of money, which is sent to the Swiss franc, may reach the size of a huge avalanche. And it will be too late to do anything on the move.<br \/>\nWe are sure that not only the Swiss National Bank, but also large hedge funds around the world are thinking about this problem. In any case, traders should understand that when sentiment changes in the stock market, it is the franc that can grow the most.<\/p>\n<p style=\"text-align: center;\"><strong>EURO<\/strong><\/p>\n<p align=\"justify\">After a couple of abrupt moves in early 2020, EUR starts doing what it did for most of the past year. Namely, do nothing at all, but oscillate near the 200-day moving average. So far we do not see the emergence of new trends, which means that speculators working on the strategy of &#8220;carry trade&#8221; continue to make money without much risk.<\/p>\n<p style=\"text-align: center;\"><strong>Gold <\/strong><\/p>\n<p align=\"justify\">A small consolidation, after a strong drop from the highs of the year, only benefited the yellow metal. Investors saw that there were no more people willing to sell the gold and started buying it again hoping for new growth. Against this background, the yellow metal rose in trading on Wednesday to 1555$ per troy ounce. Analysts continue to insist that the growth at the end of the year will be about 10-20%, so the most interesting things are still ahead.<\/p>\n<p style=\"text-align: center;\"><strong> What is waiting for us today?<\/strong><\/p>\n<p align=\"justify\">08.00 Harmonized consumer price index in Germany for December<br \/>\n13.30 Information on the ECB monetary policy meeting<br \/>\n14.30 US retail sales level for December<br \/>\n19.00 Speech by ECB President Lagarde<\/p>\n<hr \/>\n<p style=\"text-align: center;\" align=\"justify\">Important Notes on This Publication:<small> <\/small><\/p>\n<p align=\"justify\"><small>The content of this publication is for general information purposes only. In this context, it is neither an individual investment recommendation or advice nor an offer to purchase or sell securities or other financial products. The content in question and all the information contained therein do not in any way replace individual investor- or investment-oriented advice. No reliable forecast or indication for the future is possible with respect to any presentation or information on the present or past performance of the relevant underlying assets. All information and data presented in this publication are based on reliable sources. However, Bernstein Bank does not guarantee that the information and data contained in this publication is up-to-date, correct and complete. Securities traded on the financial markets are subject to price fluctuations. A contract for difference (CFD) is also a financial instrument with leverage effect. Against this backdrop, CFD trading involves a high risk up to the point of total loss and may not be suitable for all investors. Therefore, make sure that you have fully understood all the correlating risks. If necessary, ask for independent advice.<\/small><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Gold\u00a0 \u00a01553,43 (-0,18%) EURUSD\u00a0 \u00a01,1151 ( 0%) DJIA\u00a0 \u00a029067,50 (+0,15%) OIL.WTI\u00a0 58,27 (+0,36%) DAX\u00a0 \u00a013406,05 (+ 0,01%) What recently seemed to be a small market error is beginning to look&#8230;<\/p>\n","protected":false},"author":37,"featured_media":13158,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[6],"tags":[],"class_list":["post-14265","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Where&#039;s the Swiss franc going? | Bernstein Bank<\/title>\n<meta name=\"description\" content=\"What recently seemed to be a small market error is beginning to look like a frightening trend. 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