FXstreet.com

Forex Market Alerts

1

0

EUR/USD, USD/CHF Flows − WSJ: Swiss Banks Lose European Clients

Fri, Oct 30 2009, 05:17 GMT
by FXMarketAlerts Team

FXMarketAlerts


Published at 02:20 (GMT) 30 Oct

Fx Market Alerts

WSJ: While the spotlight has been on the aggressive drive by the U.S. govt to flush tax dodgers out of Switzerland, bankers here are instead grappling with the loss of a much richer clientele: Europeans. Americans have made up no more than 5% of Switzerland's $1.8 trillion offshore-banking business. But European clients are steadily coming clean, spooked by threats of a crackdown by their own governments. The tax crackdown isn't the only factor driving European money away. Many European baby boomers are also anxious to bring money home to recapitalize sagging businesses or pass the money on to their children. Citizens in Italy, Germany and France -- the big three tax-dodging nations -- stashed their money in Switzerland On FX, good to watch any good German, Italian, French banks demand for EUR/CHF on the above, with EUR/CHF at 1.5105-10, eye test of 1.5200, while USD/CHF at 1.0175-80, eye 1.0300.WL

Published on  Fri, Oct 30 2009, 05:20 GMT

Published with a minimum of 10 minutes delay.


Archive

FXMarketAlerts  | 52 Grosvenor Gardens, LONDON SW1W 0AU
http://www.fxmarketalerts.com/fxstreet | analysis@fxmarketalerts.com

Legal disclaimer and risk disclosure

Copyright and other intellectual property rights in the material in this report belong to FXMarketAlerts, 4Cast Limited, 4Cast Inc and/or Forecast pte ("4Cast"). The material shall not, under any circumstances, be reproduced or distributed in whole or part without the prior written consent of 4Cast.

The material in this report is based upon information which 4Cast considers to be reliable and the analysis and opinion in the material represents the view of 4Cast at the time of transmission (unless stated otherwise). Such analysis and opinion is subject to change without notice. The material is intended for use by parties knowledgeable and experienced in the financial sector and is only one source amongst others to be considered in carrying on their business or activity.

ACCORDINGLY 4CAST MAKES NO REPRESENTATION OR WARRANTY EXPRESS OR IMPLIED STATUTORY OR OTHERWISE (INCLUDING BUT NOT LIMITED TO) THE ACCURACY OF THE MATERIAL IN THIS EMAIL AND ON THE WEBSITE OR THE FITNESS FOR PURPOSE AND ALL SUCH REPRESENTATIONS AND WARRANTIES ARE HEREBY EXPRESSLY EXCLUDED.

4Cast does not give or purport to give investment advice. Any action taken by users on the basis of material on this website is entirely at their own risk. Independent investment advice should be sought where appropriate.

This email and the website may link to or be linked to other internet sites. 4Cast does not accept responsibility for the content of such other sites.

4Cast’s terms and conditions of business apply to all fee paying subscribers and authorised trial users.

View Full Disclaimer


Related reports

Central European Daily - Hungary NBH expected to cut rates further today by KBC Bank
Mon, Nov 23 2009, 09:38 GMT

Daily World Market Update - Volatile Week Ahead by World First UK Ltd
Mon, Nov 23 2009, 08:57 GMT

Today's Trading Signals by Financial Trend Analysis
Mon, Nov 23 2009, 08:42 GMT

Weekly Forex Outlook - USD Stronger as Traders Take Profit by Easy Forex
Mon, Nov 23 2009, 08:27 GMT

Forex Daily Analysis - AUDUSD bulls have shown their strength by climbing above resistance at 0.9204 by Investija.com
Mon, Nov 23 2009, 08:27 GMT

eurusd, switzerland, usdchf

View All

Related content


Interested in forex trading? forex brokerage firms!


MG Financial Group
Contact the broker/FDM
Open a demo account
FX Solutions LLC
Contact the broker/FDM
Open a demo account
Saxo Bank A/S
Contact the broker/FDM
Open a demo account		Deutsche Bank
Contact the broker/FDM
Open a demo account		Forex Capital Markets, LLC (FXCM)
Contact the broker/FDM
Open a demo account

GET CASH BACK FOR YOUR TRADES!   Learn more about the Pip Rebate Program

Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer.

Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts.

Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. FXstreet.com has not verified the accuracy or basis-in-fact of any claim or statement made by any independent author: errors and Omissions may occur.

Any opinions, news, research, analyses, prices or other information contained on this website, by FXstreet.com, its employees, partners or contributors, is provided as general market commentary and does not constitute investment advice. FXstreet.com will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.

©2009 "FXstreet.com. The Forex Market" All Rights Reserved.