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Fundamental Analysis
Market Analysis by Vistabrokers
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[QUOTE="Vistabrokers, post: 76399, member: 32993"] [B]Vista Brokers: National Bank of Switzerland Refused the 1.20 Franc per Euro Cap [/B] [IMG]http://s018.radikal.ru/i528/1501/b0/336e1cb24909.png[/IMG] On Thursday, the National Bank of Switzerland shocked the market, refusing the hard franc per euro cap at a level of 1.2, which was holden since 2011. Also the interest rate was reduced to -0.75%. Vista Brokers analysts note that immediately after the announcement of the Bank of Switzerland franc rose by more than 30% against the dollar and the euro. Then, the rate stabilized at around +14%. In the head of the Swiss regulator Thomas Jordan's statement it is said that the central bank has made such an unexpected decision, seeking to comply with changes in the monetary policy of the largest central banks: the Federal Reserve and the ECB. Analysts remind that the ECB may announce the launch of the quantitative easing program and the expansion of its balance sheet by 1 trillion euros during the next meeting on 22 January. As for the Fed, the US regulator plans to tighten monetary policy. Perhaps the Fed will tighten interest rates this summer. Among the Thursday statistics may be noted the weak labor market data and the Philadelphia Fed manufacturing index in the US. For the latest reporting week the number of initial claims for unemployment benefits rose to 316K instead of expected 299K. Continuing claims also rose more than analysts expected. As for the Philadelphia Fed index, it fell in January to 6.3 points versus revised 24.3 in December and expected 20.3. [/QUOTE]
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