- SNB Jordan: Can't exclude more interest-rate increases, ready to be active in FX markets
Market news
2 February 2023
SNB Jordan: Can't exclude more interest-rate increases, ready to be active in FX markets
Swiss National Bank Chairman Thomas Jordan is crossing the wires and has stated the following:
Key comments
- Price stability does not happen automatically.
- We are seeing no wage-price spiral in Switzerland.
- Inflationary pressure stronger than SNB can tolerate, can't exclude more interest-rate increases.
- A strong swiss job market could affect a firm's cost inflation.
- In 2022 second-round effects rose, and inflation spread.
- Ready to be active in currency markets when necessary.
USD/CHF technical analysis
On the following daily chart,m we can see that the price is moving lower with a descending channel:
Zoomed in ...
The M-formation is pulling the bulls in from support with a focus on the 50% mean reversion target as the top of the channel resistance and neckline of the pattern near 0.9170.
Market Focus
Material posted here is solely for information purposes and reliance on this may lead to losses. Past performances are not a reliable indicator of future results. Please read our full disclaimerOpen Demo Account & Personal Page