Safe-haven puzzle and SNB signals – Commerzbank

Safe-haven puzzle and SNB signals – Commerzbank

Commerzbank’s Michael Pfister notes that despite the war-related volatility in G10 FX, the Swiss Franc (CHF) has been one of the weakest G10 currencies, even though it remains a key safe haven. He highlights limited actual safe-haven demand, verbal intervention by the Swiss National Bank (SNB) and possible FX purchases. Pfister also flags confusing EUR/CHF […]

Surplus shrinks sharply amid massive Import surges

Surplus shrinks sharply amid massive Import surges

China’s Trade Balance for March, in Chinese Yuan (CNY) terms, arrived at CNY354.75 billion, narrowing sharply from the previous figure of CNY1.5 trillion. Exports fell 0.7% year-over-year (YoY) in March from a 19.2% increase seen in January-February. The country’s imports jumped by a whopping 23.8% YoY in the same period vs. 17.1% recorded previously. In US Dollar (USD) […]

GBP/USD reclaims 1.3500 for the first time since late February

GBP/USD reclaims 1.3500 for the first time since late February

GBP/USD opened the new week on the soft side, dipping to a session low near 1.3380, but staged a strong recovery through Monday’s session to close around 1.3510, up 0.35% on the day. The move pushed the pair to its highest level since late February, decisively reclaiming the 1.3500 handle for the first time since […]