Latest data released by the SNB - 18 January 2021

  • Domestic sight deposits CHF 634.1 bn vs CHF 628.9 bn prior

Prior week's release can be found here. Amid a bit of a retreat in EUR/CHF towards the latter stages of last week, the SNB is seen stepping back into the market again as sight deposits increased for the first time since mid-December.

As mentioned before, expect the larger trend to continue this year but the SNB should be afforded more flexibility in taking their foot off the pedal should the global economic recovery keep pace as per the current perception in the market at least.