swiss franc

Gold, oil & 44 Bars per Minute

Gold, oil & 44 Bars per Minute

“Girls love to spin.” — Wayne, Dance Instructor, Howard County Parks and Rec. I’m taking dance classes at the local Parks & Rec. with a stunning brunette, which is why I’m shuffling my feet around on Sunday nights at eight. The crowd is mixed; twenty-something hipster couples and old guys who have difficulty with their gig lines. The instructor is a cross between Wayne Newton and Telly Savalas: a black silk shirt, shaved head, and a nose like an organic potato. He sucks his microphone like a lollipop and spits out a steady stream of advice: “One, two, hook the toe, slide back, twirl…” Chick magnet The chicks love him, of course. And heck, I was even having a good time�— right up until Wayne Savalas swished over during the break. My H1 was in the parking lot. It’s shiny, yellow, and chews diesel like a Mongolian wrestler at a yak roast. Wayne obviously saw me pull up and feels he should enlighten me about his new Chevy Volt getting 60 miles per gallon… And why would I drive something that sucks up so much gas and destroys the environment? I told him that I was fully invested in oil explorers. And with the trouble in the Middle East launching my shares, I could drive a Semi for life… Brent Crude ETF (BNO) Yes, he said, but is this more of a trade on the Arab revolutions, or does it have more to do with the destruction of the dollar? Wayne pointed out that the dollar/euro has hit a four-month low and seems to be heading lower. Down she goes What is most concerning is that during this particular period of global uncertainty, the

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What happens when SNB is stopped out?

We have brought up the Swiss National bankers and what they have been doing for last several months by buying Euros in their attempt to weaken the Swiss Franc but the market keep pushing the Franc higher and Euro lower. A while back SNB kneed down to the market in a statement by the central bank in which the bank stated they wouldn’t buy Euros anymore. Well, SNB banker did pause for a while and guess what? Swiss Franc actually weakened instead of gaining strength versus the Euro. Perhaps it was that very market move which forced the SNB bankers to get to the kill again. What amazes us is that Swiss take pride in banking and thus are known as the smartest of bankers, but what have they been doing since past year? Are they not worried about their jobs? For we have stated several times in the past we’d hate to be at the helms of SNB when it had such a large exposure of Euros. A year earlier the pair stood at 1.48 whereas today and as we write it stands at 1.249s. The interventions efforts which we can imagine would have been discussed and deliberated upon many many times in closed rooms shall prove to the stupidest decision the bank has ever taken. This reminds

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Dollar Hits Low Against the Swiss Franc

Filed in commodities, currencies, euro, Gold, New Gold, o, silver, swiss franc by on December 28, 2010 0 Comments
Dollar Hits Low Against the Swiss Franc

Filed under: Market Matters , Currency Three intermarket commodities are on the move today. The Financial Times reported that the U.S. dollar hit a low against the Swiss franc. Why is this noteworthy? First the Swiss franc is a separate currency, not part of the euro. With Europe in disarray, the only safe currency is the Swiss franc. Anyone wanting to hedge against the eurozone getting worse would buy the Swiss franc. On the futures market, the March Swiss is trading at 1.05610, up 0.0138 (9:20 EDT). The March U.S. dollar is trading at 80.18, down 0.49. Continue reading Dollar Hits Low Against the Swiss Franc Dollar Hits Low Against the Swiss Franc originally appeared on BloggingStocks on Tue, 28 Dec 2010 11:00:00 EST. Please see our terms for use of feeds . Permalink | Email this | Comments

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Forex: Speculators trim Euro, Yen, Aussie long positions in Currency Futures

Filed in British Pound, currencies, euro, Gold, swiss franc, US Dollar, Yen by on October 18, 2010 0 Comments
Forex: Speculators trim Euro, Yen, Aussie long positions in Currency Futures

By CountingPips.com The latest Commitments of Traders (COT) report, released on Friday by the Chicago Mercantile Exchange, showed that futures speculators slightly pared their bets in favor of the euro and the other major currencies against the US dollar. Non-commercial futures positions, those taken by hedge funds and large speculators,were overall net short the US dollar by $29 billion against the other major currencies, down from a total short position of $30.5 billion on October 5th, according to data published by Reuters . Currency speculators were net long the euro against the U.S. dollar by 41,511 contracts as of October 12th. This is a decline of nearly 7,000 contracts following net long positions of 48,243 contracts on October 5th and breaks a string of five straight weeks of improving positions for the euro. The COT report is published every Friday by the Chicago Mercantile Exchange (CME) and shows futures positions as of the previous Tuesday. It can be a useful tool for traders to gauge investor sentiment and to look for potential changes in the direction of a currency or commodity. Each currency contract is a quote for that currency directly against the U.S. dollar, where as a net short amount of contracts means that more speculators are betting that currency to fall against the dollar and net long position expect that currency to rise versus the dollar. Open interest is the number of open contracts that have not been closed by a transaction or by delivery. The British pound sterling had been the last major currency on the short side against the dollar in the CME futures market but in early October the British currency positions …

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The Nixon Shock

The Nixon Shock

Have you looked at the market lately? The Dow is pushing 11,000. The S&P 500 has broken out above 1,150 and seems to be going to 1,220. Gold is at $1,346 per ounce, another all-time high. Silver is at prices not seen since the Hunt brothers tried to corner the market back in the 1970s. Oil is threatening to break out of its range… Aluminum, copper, tin, Molybdenum , nickel — all up! The price of cobalt has jumped from $24 to $40 per pound in the last three months. When pigs fly, pork bellies The prices of wheat, coffee, and pork bellies are going parabolic… “What’s going on?” you might ask. Could it be that investors are suddenly jazzed about tin, or think that hot dog sales will boom this Thanksgiving? No, of course not. The answer lies with our own happy Federal Reserve. Brian Sack, a senior official at the New York Fed, said this about quantitative easing in a recent speech: “Balance sheet policy can still lower longer-term borrowing costs for many households and businesses, and it adds to household wealth bykeeping asset prices higher than they otherwise would be.” Ponzi scheme In other words, the Fed is trying to prop up housing prices and the stock market (i.e. 401ks and other retirement plans) by keeping rates low, printing money, and destroying the value of the dollar. The fact that they admit this isn’t surprising… (It should be. I wish I was shocked, but I’m not.) The U.S. economy has been run like a giant Ponzi scheme since the Asian Currency Contagion of 1998. This was followed by a series of “crisis that will destroy the world economy”: Russian debt default, 9/11, Long Term Capital Management, dot-com bubble, housing collapse… Each one of these crises required the heroes at the Fed to step in and “save us” by printing money and creating the next bubble. This always reminds me of those Salvador Dali posters all the cool kids had in college: At some point, you have to pay the piper. Bills come due, and you can no longer prop up the empty corpse of the economy by adding another buttress. The flaming giraffe of debt will have his say. We wish, dear reader, that someone had the nerve to stand up in 1998 and let those who bet on LTCM take their lumps as a warning to the rest of the capitalist risk-takers. Make no mistake; the bailout of LTCM twelve years ago is directly responsible for the debt markets turning into a free-for-all five years ago. Heck, many of the same people were involved. And why not take risks? If the Fed can bail out Long Term Capital Management, they can bail out AIG. And Wall Street was correct in its assumption. Nothing has changed… No lesson has been learned. The currency war Right …

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FX Traders Watching EU Yields

Filed in currencies, Debt, euro, Gold, Quantitative Easing, swiss franc, Yen by on September 30, 2010 0 Comments
FX Traders Watching EU Yields

The EURUSD has stayed surprisingly resilient despite the negative news surrounding the Euro in the last 24 hours. Moody’s downgraded Spain to Aa1 with the outlook at stable which did not provide much of a reaction. EU Commission President Barroso & German Chancellor Merkel’s strongly worded comments yesterday are still ringing in our ears which suggested that there are still significant risks in the Eurozone. Today’s heightened CDS pricing and widened yield spreads confirm this (although we are seeing some relief today due to a canceled Irish auctions catching dealers short). “We will pull the handbrake before the car rolls down the hill” Barroso proclaimed. He then proceeded to outline sanctions for countries which failed to follow the EU’s rules on deficit and public debt. Under the new program and under the blanket of the Stability & Growth Pact, member nations whose deficit climb above 3.0% and public debt larger than 60% of GDP could be made to cough up an additional 0.2% of GDP in interest bearing deposits. He went on the say that this new plan was “the biggest step forward on economic governance since the Stability and Growth Pact was introduced.” The step toward greater economic coordination among member states clearly unnerved Germany. Merkel was quick to respond that the EU’s proposal should be an “automatic” alarm that a “depoliticized” process was needed. In addition, she called for a change in the EU’s treaty which includes the suspension of voting rights for certain states and reiterated that Germany would not support any extension of Eurozone safely measures. Today German Finance Minister Wolfgang Schaeuble asserted that Germany “needs a broader sanctions mechanism to get the moral hazard problem in the Eurozone under control.” With prospects of decent growth in the peripherals and concerns about political backtracking on austerity measures, we don’t see a smooth exit from the current situation; in fact we see the Eurozone crisis is sliding deeper, albeit slowly. Ireland’s Central Bank announced today the much anticipated solution surrounding Anglo Irish Bank – the bank is now state owned. A total of € 29.3 billion (bn) in state raised capital would be needed and an additional €5 bn may potentially be needed should economic conditions deteriorate further. In a politely worded statement, the Irish Finance Minister foretold that the holders of subordinate debt would have to make large contributions to the bailout – translated into American English, this simply means they are about to take on some heavy losses. In Australia, economic data came in softer than expected. Building approvals fell -4.7% m/m vs. 0.0 expected while private lending growth rose to a weak 0.1% vs. 0.3% expected. Given the recent moderation in economic data and current macro landscape, we suspect that the RBA will hold off on reinstating their hiking cycle until at least November. Despite the short lived sell off in AUDUSD, we suspect that safe haven investors will continue to value Australia’s strong fundamental & conservative fiscal position – this in turn will keep the currency supported. For the Greenback, concerns over the potential size…

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Forex: Speculators are long Euro positions for first time since December

Filed in British Pound, euro, Gold, Gold Bullion prices, swiss franc, US Dollar, Yen by on September 27, 2010 0 Comments
Forex: Speculators are long Euro positions for first time since December

By CountingPips.com The latest Commitments of Traders (COT) report, released on Friday by the Chicago Mercantile Exchange, showed that futures speculators increased their bets for the euro against the dollar for a third consecutive week. Non-commercial futures positions, those taken by hedge funds and large speculators, were net long the euro against the U.S. dollar by 5,097 contracts as of September 21st following net positioning of -9,644 contracts on September 14th. This is the first time contracts have been in positive territory for the euro since early December 2009 when net euro contracts were positive by 22,151. The COT report is published every Friday by the Chicago Mercantile Exchange (CME) and shows futures positions as of the previous Tuesday. It can be a useful tool for traders to gauge investor sentiment and to look for potential changes in the direction of a currency or commodity. Each currency contract is a quote for that currency directly against the U.S. dollar, where as a net short amount of contracts means that more speculators are betting that currency to fall against the dollar and net long position expect that currency to rise versus the dollar. Open interest is the number of open contracts that have not been closed by a transaction or by delivery. The British pound sterling was the only major currency on the short side against the dollar last week in the CME futures market while the euro, Australian dollar, New Zealand dollar, Japanese yen , Canadian dollar, Swiss franc and Mexican peso had a net positive amount of contracts. The British pound sterling short positions edged to -8,989 as of September 21st after being

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British Pound Weakening Against the Swiss Franc

Filed in British Pound, Gold Prices, silver, swiss franc by on September 6, 2010 0 Comments

Hiyo FX peeps! Here’s a weekly chart of the GBPCHF pair. As you can see, the pair has been trading sideways after hitting a low of 1.5118 back in December 29 back in 2008. Just recently, however, the Swiss franc was able to hurdle below the 1.5825 marker against the British pound. Given this price Related posts: Are the Pound Bulls About To Strike Back? – August 16, 2010 Welcome to another week of forex trading! In today’s FX… A Downturn Seen on the Pound – June 17, 2010 The cable or the GBPUSD pair has been staging a… The Swissy on Track for Wave 5 – June 21, 2010 Welcome to another week of forex trading my friends! Today,… Related posts brought to you by Yet Another Related Posts Plugin .

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Swiss Franc at Record High Against Euro

Swiss Franc at Record High Against Euro

Filed under: Japan , Personal Finance , Commodities , Currency Why buy the Swiss franc ? There are many reasons. Here are just a few: The Swiss franc is the stand-alone currency of Switzerland. By this we mean that Switzerland is not part of the European Union and does not use the euro as its currency. The Swiss franc offers currency exposure to Europe, while not subject to problems of countries like Greece and Spain defaulting on their sovereign debt. Continue reading Swiss Franc at Record High Against Euro Swiss Franc at Record High Against Euro originally appeared on BloggingStocks on Fri, 27 Aug 2010 09:30:00 EST. Please see our terms for use of feeds . Read | Permalink | Email this | Comments

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New month…new opportunities

Filed in economy, euro, Gold, Gold Prices, silver, swiss franc, ubs by on August 7, 2010 0 Comments

In the last three days Crude oil has advanced nearly 6% lifting prices back above the 100 day MA. We missed this most recent move with clients and being we only see an additional $2-4 upside we would not suggest getting on the train at these levels. Pullbacks should find buyers between $79.50-80.00 in the September contract. Natural gas had some trouble getting thru the $5 level with prices correcting back to the 50 day MA today losing just over 4%. We suggest keeping your stops on futures just below that MA. For fresh option entries we would be buying November 50 cent call spreads. On a move above today’s highs we would also suggest moving your October option positions out to November. I do not trust the up move in indices but as I said to a client today that and a nickel will get you a piece of gum. Indices are above the 200 day MA and until we get back below those levels the bulls are in the driver’s seat. Aggressive clients will fade rallies in the S&P as long as prices remain below 1135 in September. Some clients hold September Es puts expecting 1000-1025 into the fall. At the moment they are down on the trade with the last two day’s activity. We see the next upside resistance in the Dow just above 10800 and in the S&P at 1135-1140. Bearish engulfing candle in October sugar today with prices closing 0.90% lower. We anticipate a trade back to 17 cents in the next few weeks. December cotton failed to get above 80 cents today; aggressive traders could short futures with tight stops or buy December put options. December coffee closed nearly 5% off its highs; is an interim top finally in? Lumber is back above the 50 day MA; we expect a gain of 10% in the coming weeks. We expect to see a pull back in…

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Euro hits 2-month high versus Dollar, touches 1.2700 as risk rises on IMF, data

Euro hits 2-month high versus Dollar, touches 1.2700 as risk rises on IMF, data

By CountingPips.com The European common currency reached a fresh two-month high versus the US dollar in Forex trading as investors risk optimism has continued on a data-filled day today. The dollar has fallen to other risk currencies such as the Australian dollar, New Zealand dollar and Canadian dollar while the American currency has managed to trade at higher levels versus the British pound, Swiss franc and the Japanese yen. The euro touched the 1.2700 exchange rate for the first time since May 12th today before retreating a bit lower from the highpoint. The European currency continues to rally versus the dollar from the four-year low point reached on June 7 and from a more recent low point of 1.2151 reached on June 29th. Helping to boost the risk optimism in the market today was a report by the IMF that raised their growth projections for 2010. The IMF forecasts that global growth will reach 4.6% in 2010 after a previous estimate that global growth would register 4.2% for the year. Although the IMF projects higher growth, it cautions that the European sovereign debt crisis presented risks to this outlook. Asia will continue to be the driver of growth as the IMF forecasts Asia to rise by over 7% this year while the US is forecasted to grow by 3.3%, Japan by 2.4% and the euro area by 1.0%. Also, the United Kingdom is forecasted to grow at 1.2% in 2010 while Canada is expected to increase by 3.6%. Other economic reports released today included a much more than expected rise in Australian employment for the month of June, according to the Australian Bureau of Statistics. Australia’s economy added approximately 45,000 workers in June following a decline of approximately 23,000 workers in May and topped forecasts expecting a gain of 15,000 jobs. This news had a positive impact and boosted the Australian dollar in early forex trading action. The European Central Bank and the Bank of England had their interest rate announcements today and both held their rates at their current levels as widely expected at 1.00% and 0.50%, respectively. Economic news out of the U.S. today showed that weekly jobless claims

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