The Swiss National Bank announced its monetary policy decision at 8:30 am BST. SNB delivered a 75 basis point rate hike - in-line with market expectations. This means that the main Swiss rate moved out of the negative territory and now sits at 0.50%. SNB warned that it cannot exclude more rate hikes in the foreseeable future. Bank expects inflation to slow to 2.4% in 2023 and return to 2% in the second quarter of 2025.
In spite of a rather hawkish decision, Swiss franc took a hit. EURCHF leaped higher and tested 0.9580 resistance zone, marked with previous price reactions and 50-hour moving average (green line).
Source: xStation5
Daily Summary: Wall Street holds its breath: Hotter PCE inflation and Nvidia report in the shadow of Putin's threats
Are markets reacting to Putin's threats?
BREAKING: US Q2 GDP Deflator Revised Up to 6.4% as July Real Consumer Spending Stagnates
Economic calendar 🗽 Wall Street holds its breath: US PCE data and Nvidia earnings in focus
This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.
