HighSky (HighSky)
Currencies  |  April 08, 2013 11:27:00

Swiss franc under 100 and 200


The Swiss franc weakened against the dollar by 0.2% d / d to 0,935, the market remains below the 100 and 200m. It is these limits completes challenging resistance band 0.937 0.94 0.949 with the next resistance zone and from 0.955 to 0.957. Grants are 0.931, 0.929 and 0.924. The market today can wait for the Fed Chairman Bernanke's speech in Atlanta (Tuesday, 01.15 CET). It can be assumed that Bernanke will not deviate too much from the current trend of rhetoric calming markets continued ultraexpanzivní monetary policy, particularly under the influence of another eruption of the eurozone debt crisis and last mixed economic reports.

USDCHF, daily comment

Bond and commodity markets, especially the gold market but only against the dollar benefited a lot from long-term commitment and consistency assurances of long-term ultraexpanzivní Fed monetary policy and expectations are very favorable financial conditions. These beliefs and expectations with respect to uncertainties in the global economy, however, can still fulfill market security got in early with the publication of the minutes of the Fed's main interest rate of 11 and 12 December as from nowhere serious flaws. For markets was a major shock of recognition shift, that among some members of the Fed výkoného body significantly strengthened the view to reducing the financial markets competitive monetary expansion earlier this year (ie much earlier than expected)! Certainly not this year at least notes trading on financial markets even though the Fed tried in the weeks to assure a preference for the current rate currentmonetary policy and the persistence of very favorable monetary conditions in the following years (statement and write the January decision on key interest rate or the performance and presentation of monthly reports monetary policy Fed chief Bernanke to Congress in February). Fed wants calm turbulent market expectations legitimately trying to dampen their adaptation, protect favorable financial conditions and thus fragile economy. Continuing soothing doctrine also recorded an escalation of tension of the situation in Europe, which takes into account the Fed significantly in their views. Markets, however, feel that the change of the course of monetary policy may come much sooner than it seemed a few weeks ago. The last straw yet bitter liquor for the bond market over the last expectation of better economic news and the labor market.

Josef Kvarda
Analyst
HighSky Brokers

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Švýcarský frank pod 100 a 200MA

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