Latest data released by the SNB - 3 June 2019
- Domestic sight deposits CHF 474.3 bn vs CHF 485.0 bn prior
Prior week's release can be found here. Overall sight deposits are little changed last week but the SNB will certainly be more inclined to step into the market now that EUR/CHF has fallen to its lowest levels since July 2017.
But as mentioned last week, realistically they can only help to smooth the strengthening of the swissie given how risk averse markets are now and how much haven flows are dominating. As such, they don't have much choice if markets continue to be pessimistic and that will still take EUR/CHF back towards testing the 1.1000 handle unless sentiment changes.
