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View Poll Results: How long will the CHF peg hold?
Less than a day 1 0.64%
Less than a week 17 10.90%
Less than a month 24 15.38%
Until the end of the year 43 27.56%
Longer 71 45.51%
Voters: 156. You may not vote on this poll

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  #881  
Old 16.01.2015, 15:53
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Re: SNB Pegs CHF to the EUR!!!

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Wealth is neither created nor destroyed by these moves but can be massively redistributed. Whether you win or lose depends on your own investment and income situiation.
And where your pension fund invested your money
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  #882  
Old 16.01.2015, 15:58
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Re: SNB Pegs CHF to the EUR!!!

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.
I for one have a Diesel - 1.54CHF or 1.04EUR. As it´s practically 1:1, guess where I refuelled yesterday
Where did you fill up for EUR1.04? Just had a look on the link you sent for Konstanz, and the price is EUR1.20, still cheaper than CHF1.54 of course...
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  #883  
Old 16.01.2015, 16:03
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Re: SNB Pegs CHF to the EUR!!!

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Where did you fill up for EUR1.04? Just had a look on the link you sent for Konstanz, and the price is EUR1.20, still cheaper than CHF1.54 of course...
Konstanz is the most horrible place for refuelling.

Going back to Zürich I took a detour via Singen, (E Center, An Der B34/ Unter Den Tannen 3, 78224 Singen) where the price is 1.049 right now.

Somehow Konstanz has only 3 petrol stations limiting competition, while Singen has an abundance of stations, hence lower prices.

On tanke-guenstiger I use "Umkreissuche" "20km" and "Radolfzell" (in the middle between Konstanz and Singen), like this you can compare all of them in one go.

If you like Kentucky Fried Chicken (Franz-Sigel-Straße 3, just off Georg Fischer Strasse), the detour via Singen is compulsory in any case, hence not a "real" detour anymore.
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  #884  
Old 16.01.2015, 16:17
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Re: SNB Pegs CHF to the EUR!!!

The tram ticket machines in Geneva give change based on 1.20
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  #885  
Old 16.01.2015, 16:30
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Re: SNB Pegs CHF to the EUR!!!

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The tram ticket machines in Geneva give change based on 1.20
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  #886  
Old 16.01.2015, 16:40
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Re: SNB Pegs CHF to the EUR!!!

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The tram ticket machines in Geneva give change based on 1.20
You're saying if I put EUR10 in and the ticket costs CHF10 they will give me CHF2 back?
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  #887  
Old 16.01.2015, 16:49
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Re: SNB Pegs CHF to the EUR!!!

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You're saying if I put EUR10 in and the ticket costs CHF10 they will give me CHF2 back?
Well I put in 2 euro for a 2 CHF ticket & received 40 cents change. Shame I did not have any 5 CHF coins.
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  #888  
Old 16.01.2015, 16:53
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Re: SNB Pegs CHF to the EUR!!!

oo - I'll need to go into the office and see if the vending machines still have the old bug from a few years ago.

Back then they fixed the rate at 1.2 and for a few days it reached parity. I could put in 10€ and just press "reject". It kept the 10€ and gave me 12 CHF.
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  #889  
Old 16.01.2015, 17:11
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Re: SNB Pegs CHF to the EUR!!!

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oo - I'll need to go into the office and see if the vending machines still have the old bug from a few years ago.

Back then they fixed the rate at 1.2 and for a few days it reached parity. I could put in 10€ and just press "reject". It kept the 10€ and gave me 12 CHF.
It's a nice idea no arbitrage)
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  #890  
Old 16.01.2015, 17:30
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Re: SNB Pegs CHF to the EUR!!!

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The SBB really needs to add some extra carriages to the Saturday train to Konstanz.
I assume you were joking but SBB will actually do that, add carriages
http://www.blick.ch/news/wirtschaft/...id3412590.html
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  #891  
Old 16.01.2015, 17:50
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Re: SNB Pegs CHF to the EUR!!!

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I assume you were joking but SBB will actually do that, add carriages
http://www.blick.ch/news/wirtschaft/...id3412590.html
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  #892  
Old 16.01.2015, 17:54
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Re: SNB Pegs CHF to the EUR!!!

Today I exchanged EUR for CHF at 1.0071 at the bank while the mid market rate was .9893.

Ok so I lost almost 20% yesterday but that 4-5% above I "got from the bank" feels better....
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  #893  
Old 16.01.2015, 18:27
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Re: SNB Pegs CHF to the EUR!!!

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Today I exchanged EUR for CHF at 1.0071 at the bank while the mid market rate was .9893.

Ok so I lost almost 20% yesterday but that 4-5% above I "got from the bank" feels better....
Small gains are said to be twice as power fall as losses.

This is explained further here: http://en.wikipedia.org/wiki/Loss_aversion
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  #894  
Old 16.01.2015, 19:29
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Re: SNB Pegs CHF to the EUR!!!

I exchanged a bunch of CHF for EUR this afternoon at parity. I had a look this evening and a CHF is now worth more than a EUR.

I can't wrap my tiny little mind around this. Smoke is going to pour out of my ears.

I am a simple idiot, so can someone please explain to me whether we are likely to see the CHF strengthen further against the EUR if the ECB introduces quantitative easing? Do I change all my money into Euros now, or do I keep some powder in the keg because a better rate is likely coming in the future?

Am I going to have to get my little mind around multiplying the Euro price by 1.2 instead of dividing it by 1.2 to get to Swissies?

We're halfway through January and I'm still training myself to write 2015, so you can imagine how long it'll take for me to reverse the currency exchange calculation.
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  #895  
Old 16.01.2015, 20:00
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Re: SNB Pegs CHF to the EUR!!!

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I exchanged a bunch of CHF for EUR this afternoon at parity. I had a look this evening and a CHF is now worth more than a EUR.

I can't wrap my tiny little mind around this. Smoke is going to pour out of my ears.

I am a simple idiot, so can someone please explain to me whether we are likely to see the CHF strengthen further against the EUR if the ECB introduces quantitative easing? Do I change all my money into Euros now, or do I keep some powder in the keg because a better rate is likely coming in the future?

Am I going to have to get my little mind around multiplying the Euro price by 1.2 instead of dividing it by 1.2 to get to Swissies?

We're halfway through January and I'm still training myself to write 2015, so you can imagine how long it'll take for me to reverse the currency exchange calculation.
If anyone could answer those questions with a good degree of certainty then they wouldn't be sharing the answers with you
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  #896  
Old 16.01.2015, 20:37
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Re: SNB Pegs CHF to the EUR!!!

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Well I put in 2 euro for a 2 CHF ticket & received 40 cents change. Shame I did not have any 5 CHF coins.
What would you have done with your 5 CHF coins, in the Swiss ticket machine in Geneva?
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  #897  
Old 16.01.2015, 21:02
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Re: SNB Pegs CHF to the EUR!!!

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I exchanged a bunch of CHF for EUR this afternoon at parity. I had a look this evening and a CHF is now worth more than a EUR.

I can't wrap my tiny little mind around this. Smoke is going to pour out of my ears.

I am a simple idiot, so can someone please explain to me whether we are likely to see the CHF strengthen further against the EUR if the ECB introduces quantitative easing? Do I change all my money into Euros now, or do I keep some powder in the keg because a better rate is likely coming in the future?

Am I going to have to get my little mind around multiplying the Euro price by 1.2 instead of dividing it by 1.2 to get to Swissies?

We're halfway through January and I'm still training myself to write 2015, so you can imagine how long it'll take for me to reverse the currency exchange calculation.
Problem is that logic left the markets and went on holiday a long time ago.

Theoretically if the ECB introduces quantitative easing then the CHF will strengthen against the euro. But will that actually happen? Who knows, I don't.
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  #898  
Old 16.01.2015, 21:12
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Re: SNB Pegs CHF to the EUR!!!

most of the ATMs around me in Geneva don't have any euros. BCGE ATMs has awesome rate of 1.004 CHF = 1.000 EUR almost parity
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  #899  
Old 16.01.2015, 23:09
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Re: SNB Pegs CHF to the EUR!!!

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I exchanged a bunch of CHF for EUR this afternoon at parity. I had a look this evening and a CHF is now worth more than a EUR.

I can't wrap my tiny little mind around this. Smoke is going to pour out of my ears.

I am a simple idiot, so can someone please explain to me whether we are likely to see the CHF strengthen further against the EUR if the ECB introduces quantitative easing? Do I change all my money into Euros now, or do I keep some powder in the keg because a better rate is likely coming in the future?

Am I going to have to get my little mind around multiplying the Euro price by 1.2 instead of dividing it by 1.2 to get to Swissies?

We're halfway through January and I'm still training myself to write 2015, so you can imagine how long it'll take for me to reverse the currency exchange calculation.
I actually haven't made up my mind yet about the quantative easing issue but as and when I do, if anyone should like to get an early indication, I can provide my (swiss) bank account details by pm.

ECB
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Old 16.01.2015, 23:43
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Re: SNB Pegs CHF to the EUR!!!

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Problem is that logic left the markets and went on holiday a long time ago.

Theoretically if the ECB introduces quantitative easing then the CHF will strengthen against the euro. But will that actually happen? Who knows, I don't.
I second that assumptions, and believe this is the reason why the SNB decided to break the peg as it would be very expensive for them to maintain the peg.

If I had CHF savings, I would wait until 22 Jan and make sure that I prep myself with a decent FX broker like interactive brokers whose FX margins are tighter than any other brokers that I've come across.

You still have time to open a brokerage account with them.
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