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  #181  
Old 25.07.2011, 11:04
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Re: Swiss Franc Climbs to Record High

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currently 1.1667 according to UBS
& now CHF 1.156 to the euro.

I guess the Greek solution was not well accepted by the markets?

Moodys cut Greek credit rating by 3 notches; only one left

Moodys also threatened to cut credit ratings of the countries providing the bail out funds on the basis that this sets a precedent for bailing out other countries & that would even drag the rich countries down.
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  #182  
Old 25.07.2011, 13:02
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Re: Swiss Franc Climbs to Record High

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& now CHF 1.156 to the euro.

I guess the Greek solution was not well accepted by the markets?

Moodys cut Greek credit rating by 3 notches; only one left

Moodys also threatened to cut credit ratings of the countries providing the bail out funds on the basis that this sets a precedent for bailing out other countries & that would even drag the rich countries down.
"solution" may be a bit generous, just buying a bit of time. we'll be in the same situation again a few months down the line.
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  #183  
Old 25.07.2011, 14:07
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Re: Swiss Franc Climbs to Record High

You're very quiet today, Wolli
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  #184  
Old 25.07.2011, 14:10
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Re: Swiss Franc Climbs to Record High

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I read an article in Sunday Times a week or two ago where Brits had taken out CHF mortgages in Cyprus to by holiday homes.

The article explained that CHF mortgages were at rates half those available in GBP and Cypriot pounds. Now they pay double the repayments as when taken out due to the rise of the franc. But to my mind they are now in the same situation as if they had taken loans in other currencies at double the interest rates...
another example of when 'financial engineering' can get ahead of itself...
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  #185  
Old 25.07.2011, 14:10
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Re: Swiss Franc Climbs to Record High

He's buying some long words to spread over the next 5 un-merged posts; but due to the exchange rate he's gone looking for those over the border.
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  #186  
Old 25.07.2011, 14:22
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Re: Swiss Franc Climbs to Record High

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& now CHF 1.156 to the euro.

I guess the Greek solution was not well accepted by the markets?

Moodys cut Greek credit rating by 3 notches; only one left

Moodys also threatened to cut credit ratings of the countries providing the bail out funds on the basis that this sets a precedent for bailing out other countries & that would even drag the rich countries down.
Do I understand it correctly that you mean the FINANCE markets ?

And right now it looks :
UBS purchase 1,1564
OANDA sales 1,1748
and so not much different from Friday
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  #187  
Old 25.07.2011, 15:29
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Re: Swiss Franc Climbs to Record High

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"solution" may be a bit generous, just buying a bit of time. we'll be in the same situation again a few months down the line.

You are right; maybe kicking the can further down the road would be a better description !
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  #188  
Old 25.07.2011, 15:37
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Re: Swiss Franc Climbs to Record High

Between the US talks falling apart and Moody's saying that Greece is 100% certain to default... all I can say is.... "it's a good day to be living in Switzerland!"
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  #189  
Old 25.07.2011, 15:37
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Re: Swiss Franc Climbs to Record High

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Do I understand it correctly that you mean the FINANCE markets ?

And right now it looks :
UBS purchase 1,1564
OANDA sales 1,1748
and so not much different from Friday

Strange this is what I see in UBS, see attachment

euro bid 1.541
euro ask 1.544

nowhere near 1.17?

BTW, oanda are still quoting 1.174 - they must have got a blockage in the works

Last edited by marton; 08.12.2017 at 17:37.
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  #190  
Old 25.07.2011, 15:41
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Re: Swiss Franc Climbs to Record High

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Do I understand it correctly that you mean the FINANCE markets ?
i think it's safe to say he isn't talking about the vegetable market down the street.

huge volatility right now:

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  #191  
Old 25.07.2011, 15:43
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Re: Swiss Franc Climbs to Record High

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all I can say is.... "it's a good day to be living in Switzerland!"
...and holidaying transatlantic
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  #192  
Old 25.07.2011, 15:45
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Re: Swiss Franc Climbs to Record High

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i think it's safe to say he isn't talking about the vegetable market down the street.

huge volatility right now:

You must have the wrong graph, Wollie says the euro is not sliding down
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  #193  
Old 25.07.2011, 15:47
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Re: Swiss Franc Climbs to Record High

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You are right; maybe kicking the can further down the road would be a better description !
it's funny. a few years ago, i was speculating about the potential pressures on the euro and eurozone due to the differences between the PIIGS and Germany etc. and speculated that it could lead to a eurozone break-up. at the time, it was unthinkable. now it seems we are coming close to the make-or-break time.

i was always curious to see whether the ECB would hold out and make the euro a strong currency which would become the fiat equivalent of 'a cross of gold' for the eurozone, or whether political pressure would end any strong currency pretension and reserve currency ambitions.

at the moment, it seems that euro-federalism is winning - not unexpectedly given the power of the pro-europe political elite and the somewhat outrageous dis-regard for law.

what still remains to be seen is whether the germans are going to wear it...
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  #194  
Old 25.07.2011, 16:07
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Re: Swiss Franc Climbs to Record High

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You must have the wrong graph, Wollie says the euro is not sliding down
I've changed my mind - I'm agree with Wolliconomist now. The Euro is heading towards blue skies and a steady rise, for the foreseeable future

Attachment 30050

Last edited by weejeem; 14.10.2011 at 15:03.
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  #195  
Old 25.07.2011, 16:53
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Re: Swiss Franc Climbs to Record High

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Strange this is what I see in UBS, see attachment

euro bid 1.541
euro ask 1.544

nowhere near 1.17?

BTW, oanda are still quoting 1.174 - they must have got a blockage in the works
The Euro jumping up to above CHF 1.50 would be a dream for all Swiss exporters and everybody in the CH inbound tourism
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  #196  
Old 25.07.2011, 16:57
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Re: Swiss Franc Climbs to Record High

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i think it's safe to say he isn't talking about the vegetable market down the street.

huge volatility right now:

This looks rather catastrophic. I mean catastrophic for Switzerland

I fear that the markets (I mean the REAL world markets) will stop purchasing Swiss products and will stop selling travels to Switzerland, if this goes on that way.
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  #197  
Old 25.07.2011, 16:59
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Re: Swiss Franc Climbs to Record High

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You must have the wrong graph, Wollie says the euro is not sliding down
I fear it was ME who had the wrong graph. Looks as if the CHF is going through the roof, a joke of a currency, just a ball in the hands of some madmen
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  #198  
Old 25.07.2011, 19:07
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Re: Swiss Franc Climbs to Record High

The pressure on the Euro somewhat and interest rate pressures may force EUR below the 1,14 resistance although received wisdom indicates that it will occupy a corridor in the 1,132 to 1,157 in the next three months.

I join many posters on this thread in that I know absolutely nothing about FX and simply made that up, but it sounds good though don't you think ?

AYB
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Old 25.07.2011, 19:18
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Re: Swiss Franc Climbs to Record High

Groan...... With each passing day my jungfrau ticket gets dearer and dearer. Now only if INR climbs
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Old 25.07.2011, 19:49
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Re: Swiss Franc Climbs to Record High

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This looks rather catastrophic. I mean catastrophic for Switzerland

I fear that the markets (I mean the REAL world markets) will stop purchasing Swiss products and will stop selling travels to Switzerland, if this goes on that way.
Absolutely agree with you Wolli, the exchange market are changing fast and CH doesn't seem to be adjusting accordingly whether on exports or imports, they still import stuff according to the new exchange rates and selling locally with the same prices which were based on the old exchange rate....which mean their profits have increased by 30 to 50% at least, it won't take long till it collapses if they keep on being like this, this would affect the tourism, local purchasing power and exports, which means the CHF could drop dramatically anytime after this rise due to mismanagement
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