Breaking News
0

Swiss Franc In (Another) Mini Flash Crash

By Market Pulse (Andrew Robinson)Market OverviewFeb 11, 2019 12:12AM ET
www.investing.com/analysis/swiss-franc-in-another-mini-flash-crash-200386121
Swiss Franc In (Another) Mini Flash Crash
By Market Pulse (Andrew Robinson)   |  Feb 11, 2019 12:12AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 

USD/CHF hits near-3-month high

Another Japanese holiday, another flash crash. Once again, diminished liquidity in the so-called twilight hours on a Japanese holiday witnessed aggressive selling of Swiss franc-denominated cross pairs by retail Japanese investors. The action saw USD/CHF surge almost 1% to touch 1.0106, the highest since Nov. 14, at about 6am Singapore time (2200hrs on Sunday GMT). CHF/JPY slumped 0.9% to 108.80, the lowest since the last flash crash on Jan. 3.

USD/CHF Hourly Chart

USD/CHF Hourly Chart
USD/CHF Hourly Chart

Source: OANDA fxTrade

China markets reopen

Aside from the early moves in the Swiss franc, other currencies were relatively steady as China returned from a week-long break. The Peoples Bank of China set the USD/CNY fix higher at 6.7495 from 6.7081, the highest fix since last July, reflecting the U.S. dollar’s advance since the start of the month.

Whilst on China, the FT carried a report today suggesting that the country’s Q1 GDP growth could slow to 6.0%, which would be the slowest first quarter on record. The article cited the China state-run newspaper, so there may be some element of the authorities pre-preparing the market for softer data.

Thai politics hitting the spotlight

In the run-up to a possible general election later this month, or in March, political parties had until last Friday to nominate their candidates for the Prime Minister’s job. A last minute effort saw the King’s sister nominated under the Thai Raksa Chart party, only for her to withdraw it after the King denounced her application. Friday saw the USD/THB rally to 31.78, the highest since January 25. USD/THB has retreated 0.47% to 31.476 today.

USD/THB Daily Chart

USD/THB Daily Chart
USD/THB Daily Chart

Source: OANDA fxTrade

Data calendar focuses on the U.K.

It’s a slow start to the week on the data front, apart from the U.K. We will be bombarded with two sets of GDP numbers, firstly the official Q4 GDP, which is seen slowing to +0.2% q/q from +0.6% followed by data from NIESR for both December and January. Manufacturing and industrial production data for December are expected to rebound from November’s slump while trade data for December is expected to show a narrower deficit.

Original post

Swiss Franc In (Another) Mini Flash Crash
 
Swiss Franc In (Another) Mini Flash Crash

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email