Swiss Franc Commentary for 16-Mar-10

Swiss Franc Commentary
Tables & Charts

The Swiss franc depreciated vis-à-vis the U.S. dollar today as the greenback tested offers around the CHF 1.0615 level and was supported around the CHF 1.0575 level. Data released in Switzerland today saw February producer and import prices decline 0.3% m/m and fall 1.0% y/y. SECO March 2010 economic forecasts will be released tomorrow. As expected, Swiss National Bank last week kept its three-month Swiss franc Libor target rate unchanged at 0.2% today. SNB reported ‘The Swiss National Bank is maintaining its expansionary monetary policy. It will act decisively to prevent an excessive appreciation of the Swiss franc against the euro.” SNB is forecasting the Swiss economy will expand about 1.5% this year. SNB Chairman Hildebrand said the main risks to Swiss economic growth are “external” and reiterated foreign exchange intervention remains one of its tools. January M2 money supply growth was an annualized 16.5%. U.S. dollar offers are cited around the CHF 1.1045 level. The euro moved lower vis-à-vis the Swiss franc as the single currency tested bids around the CHF 1.4525 level while the British pound moved lower and tested bids around the CHF 1.5915 level.

SUPPORT   RESISTANCE

 
L1.       1.0540 1.0830
L2.       1.0350 1.1045
L3.       1.0040 1.1315
Swiss Franc Focus
 
Day's Change 52-Week High 52-Week Low

Instrument

Current

 Points % Date Value Date Value
Exchange Rates

16-Mar-10
AUD/CHF This marker indicates the current chart. 0.9698 0.0000 0.00% 9-Mar-10 0.9843 18-Mar-09 0.7704
CAD/CHF This marker indicates the current chart. 1.0410 0.0000 0.00% 9-Mar-10 1.0472 31-Mar-09 0.9018
CHF/JPY This marker indicates the current chart. 85.1447 0.0000 0.00% 11-Jun-09 91.2775 1-Mar-10 82.5388
EUR/CHF Fwd-1 Yr This marker indicates the current chart. 84.0000 0.0000 0.00% 8-Jun-09 175.0000 9-Mar-10 77.0000
GBP/CHF This marker indicates the current chart. 1.5976 0.0000 0.00% 7-Aug-09 1.8035 15-Mar-10 1.5976
USD/CHF This marker indicates the current chart. 1.0607 0.0001 0.01% 13-Mar-09 1.1853 25-Nov-09 0.9943
USD/CHF Fwd-1 Yr This marker indicates the current chart. -51.0000 0.0000 0.00% 25-Nov-09 -36.3000 17-Mar-09 -160.0000
EUR/CHF This marker indicates the current chart. 1.4516 0.0000 0.00% 16-Mar-09 1.5388 15-Mar-10 1.4516
 
Indices

16-Mar-10
NASDAQ This marker indicates the current chart. 2,362.21 0.00 0.00% 11-Mar-10 2,368.46 16-Mar-09 1,404.02
S&P 500 This marker indicates the current chart. 1,150.51 0.00 0.00% 15-Mar-10 1,150.51 16-Mar-09 753.89
 

source: DTN Market Access

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