News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
Oil - US Crude
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Wall Street
More View more
Real Time News
  • USD hegemony is at risk thanks to changes in the global economy and the long-term consequences of the US-China trade war. Get your market update from @CVecchioFX here:
  • Did you know a Doji candlestick signals market indecision and the potential for a change in direction. What are the top five types of Doji candlesticks? Find out
  • Use this technical analysis pattern recognition skills test to sharpen your knowledge:
  • The formation of several bullish technical patterns suggests that the haven-associated Japanese Yen is at risk of further losses against the Euro and Australian Dollar. Get your market update from @DanielGMoss here:
  • Natural gas is moving lower after weather models pointed to warmer-than-average temperatures across much of the US. Get your market update from @FxWestwater here:
  • Gold and silver prices may continue to rise in the coming months on the back of falling real rates of return and the prospect of additional fiscal support under a Biden administration. Get your market update from @DanielGMoss here:
  • Will the Swiss Franc find reprieve after recent losses against the Canadian and New Zealand Dollars as NZD/CHF and CAD/CHF uptrends face key chart barriers? Find out from @FxWestwater here:
  • The Australian Dollar may be at risk of losses against the New Zealand Dollar after an unexpectedly high NZ inflation reading sent AUD/NZD towards challenging short-term rising trend support. Get your $AUD market update from @ddubrovskyFX here:
  • Japanese candlesticks are a popular charting technique used by many traders, and the shooting star candle is no exception. Learn about the shooting star candlestick and how to trade it here:
  • The gold price rebound keeps XAU/USD within the confines of the August downtrend. From a trading standpoint. Get your $XAUUSD market update from @MBForex here:
USD/CHF Little Changed as SNB Opts For Status Quo, Brexit in Focus

USD/CHF Little Changed as SNB Opts For Status Quo, Brexit in Focus

Oded Shimoni, Junior Currency Analyst

Talking Points:

- The Swiss Franc was little changed versus its major currency counterparts

- SNB keeps Deposit Rate unchanged at -0.75%, 3-Month Libor Target Range at -1.25% to -0.25%

- "Brexit" may cause uncertainty and turbulence to increase in the global economy

Learn good trading habits with DailyFX’s “Traits of successful traders” series

The Swiss Franc was little changed versus other majors (at the time this report was written) after today’s SNB rate decision saw interest rates unchanged at record low negative -0.75% on sight deposits, as was expected by economists. The SNB also kept the 3-Month Libor Target Range unchanged at -1.25% to -0.25%, also as expected.

Looking into the press release, the SNB commented that the bank will remain active in the foreign exchange market as necessary. The bank emphasized explicitly that the negative interest rate and the SNB’s willingness to intervene in the foreign exchange market are intended to make Swiss franc investments less attractive. The bank commented again that the Swiss franc is still significantly overvalued. The SNB also said that the imminent UK referendum may cause uncertainty and turbulence to increase in the global economy.

In their latest policy meeting, the ECB signaled that they are in “implementation mode” of the Stimulus measures announced in March. The fact that the ECB are seemingly holding back on further stimulus for the moment might have reduced pressure on the SNB to further cut rates, as Franc strength versus the Euro could potentially burden on the Swiss economy due to the trading relations between Switzerland and the Euro-Zone.

With that said, there might potentially be another issue at play here. As was mentioned yesterday by Fed Chair Yellen, “Brexit” was a consideration for the Fed in their decision to keep rates unchanged. It seems likely to assume that the same goes for the SNB, as a “Brexit” scenario could potentially see higher demand for the Swiss Franc on a “safe haven” type of scenario.

Taking both these factors into consideration, it was expected that the SNB will opt to keep policy at status quo for the moment, until/if events dictate otherwise. With the decision widely expected, the Swiss Franc was little changed versus other majors.

Meanwhile, the DailyFX Speculative Sentiment Index (SSI) is showing that about 65.9% of traders are long the USD/CHF at the time of writing. The SSI is a contrarian indicator, implying further weakness ahead for the pair.

You can find more info about the DailyFX SSI indicator here

USD/CHF 5-Minute Chart: June15, 2016

USD/CHF Little Changed as SNB Opts For Status Quo, Brexit in Focus

--- Written by Oded Shimoni, Junior Currency Analyst for

To contact Oded Shimoni, e-mail

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.