Latest data released by the Swiss National Bank — 12 March 2018
- Domestic sight deposits CHF 464.3 bn vs CHF 458.3 bn prior
Prior week’s release can be found here.
A jump in the domestic figures, but overall sight deposits are a little lower compared to the previous week. Nothing to glean from the data point, but the overall deposits have been holding steady around current levels for the last few weeks.
USD/CHF at 0.9488 and EUR/CHF at 1.1700 — barely changed on the data release. I’m still in EUR/CHF on the long side, as I have been since the cap (floor) removal. Remember, the SNB will/can only act after the ECB does — in essence, the swissie will always lag behind the euro and the SNB up to this point has no intention to see a stronger Swiss franc as well.