Intra-Day Market Moving News and Views
06 Mar 2015 06:28GMT
USD/CHF - 0.9735 .... Swiss National Bank reports profit of 38.3 Bln CHF for 2014 Vs 9.1 Bln loss year-ago.
- SNP reports profit from forex positionsof 34.5 Bln CHF
- SNP reports gain on Gold valuation of 4.1 Bln CHF
- SNB says financial result depends largely on developments in the Gold, forex, and capital markets
- SNB says it is not possible to make any predictions about results this year
- SNB says does not exclude suspending or reducing profit Ddistributions in some years, due to considerable volatility in its results
News From Reuters, Fed's Williams said that if Europe, Japan were stronger, forecast for U.S. GDP growth would be closer to 4%.
Earlier, San Francisco Fed President John Williams (2015 voting member of FOMC) said:
- By Mid-Year, Fed Should Seriously Discuss Raising U.S. Rates
- Safer To Raise Rates Early, Gradually, Than Wait And Have To Hike Sharply
- Waiting Too Long To Raise Rates Risks Overshooting On Inflation
- Overshooting Could Force Sharp Rate Hikes, Destabilizing Markets And Damaging Recovery
- Sees Maximum Employment By Year End, If Not Sooner
- Sees Inflation Returning To Normal Over Next Two Years
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EUR/USD manages to hold in positive territory above 1.0750 despite retreating from the fresh multi-week high it set above 1.0800 earlier in the day. The US Dollar struggles to find demand following the weaker-than-expected NFP data.
GBP/USD declines below 1.2550 following NFP-inspired upsurge
GBP/USD struggles to preserve its bullish momentum and trades below 1.2550 in the American session. Earlier in the day, the disappointing April jobs report from the US triggered a USD selloff and allowed the pair to reach multi-week highs above 1.2600.
Gold struggles to hold above $2,300 despite falling US yields
Gold stays on the back foot below $2,300 in the American session on Friday. The benchmark 10-year US Treasury bond yield stays in negative territory below 4.6% after weak US data but the improving risk mood doesn't allow XAU/USD to gain traction.
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Week ahead – BoE and RBA decisions headline a calm week
Bank of England meets on Thursday, unlikely to signal rate cuts. Reserve Bank of Australia could maintain a higher-for-longer stance. Elsewhere, Bank of Japan releases summary of opinions.