SNB Chairman Jordan speech!

snb copy

Today at 17:00 GMT! This is the men who broke several FX brokers and destroyed thousands of traders when he decided to remove SNB’s EUR/CHF 1.2 cap. Sure, his move was fully legit, but the way of execution didn’t, that’s for sure. Be aware of possible strong moves at CHF pairs, who knows what ‘surprises’ Mr. Jordan could launch again!?

Advertisements

2 comments

  • christopherglendinningmiller

    The big problem with the Swissie is the generally low level of liquidity. Hence you can see big moves for relatively insignificant events or sometimes nothing at all – not even a rumour. Thus the SNB is able to intervene effectively unlike say BOJ who prior to Abeconomics tried many times to intervene with either very limited or no effect. Personally I have not touched the Swisse for a few years or be more precise when I was slipped 200 pips on the introduction of the peg. The reason being no more complicated than technicals tend not to work when you have a central bank intervening. Clearly the technicals did work when the peg was removed – though that was hardly intervention with the removal of the peg. Maybe I should be relooking at the Swissie with a view to trading it on strict technicals.

    Liked by 1 person

    • Same here, last chf trade I had few years ago, when SNB was talking about raising the peg at 1.25!

      Like

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

w

Connecting to %s