EURCHF: Watch out SNB president speech for easing clues - RBS

FXStreet (Delhi) - Brian Daingerfield, FX Trading Strategist at RBS, notes that the Swiss National Bank President Jordan’s speech will be in focus today while the SNB has left little room for confusion about the goals of its monetary policy stance, specifically its intent to weaken the currency.

Key Quotes

“With the ECB’s stance likely to change as soon as next month, an emphasis on the SNB’s stance relative to the ECB by President Jordan could heighten expectations that the SNB “follows” the ECB with additional easing at their December meeting.”

“Still, with EUR/CHF well off the lows of the year, the necessity for the SNB to immediately “follow” any ECB monetary policy change is arguably lower than it had been in January, when the SNB pre-empted ECB policy by removing its currency cap and slashing interest rates.”