MORNING BRIEFING: The SNB intervened to stop the decline of the Dollar against the Swiss franc.

[RTFX-Trading]

MORNING BRIEFING: The SNB intervened to stop the decline of the Dollar against the Swiss Franc.

What’s new:
Japan: Japanese finance minister says that he does not want to intervene to stop the rising Japanese yen.
Switzerland: SNB intervened by buying USD/CHF this morning.
France: Lagarde said the level of the Euro is a concern.
US : corporate bankruptcies up 33% in Q3 2009.
US: household spending rose, declining weekly jobless claims.
US: increase of 6.20% of new home sales in October.
England: 0.30% decline in GDP in Q3 2009.

Today:


Rates in Asia and Indices:
EURUSD: 1.5142 - 1.5062.
USDCHF: 1.0040 - 0.9917.
EURUSD: 1.6726 - 1.6537.
EURJPY: 132.32 - 130.43.
USDJPY: 87.48 - 86.29.
Dow Jones: 10'464 +0.29%.
NASDAQ: 2'176 +0.32%.
S & P 500: 1,110 +0.45%.
Nikkei: 9'383 -0.62%.
Shanghai: 3,212 -2.37%.
Gold: $1,193.
Crude oil: $77.34.

Comments:
The Dollar fell to the lowest in 15 months against its major rivals. The two main reasons are first the statement from the Fed, which said that US interest rates would remain low for some time and secondly the statement of the Central Bank of Russia, who said that it will use part of its foreign exchange reserves to buy Canadian Dollars.

The Euro posted its biggest daily rise against the Dollar in almost four months (a very good day for Shiva ...). On the side the USD/CHF - the interventions by the Swiss National Bank which bought the USD/CHF at 0.9965 and 1.0020 this morning. USD/JPY, the finance minister said he did not intend to intervene for the moment, but it is a stage where we must be vigilant.

Have a good day.

Nicolas Longchamp
RTFX Ltd
Head Office
The Cornerstone Complex, 16th September Square | Mosta MST 1180 | Malta
Tel:  +356 23 31 00 00
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