According to the 2011 press release, the Swiss National Bank has finally become profitable once again. The income was gained at the expense of reevaluating the bank’s gold and currency reserves. In 2011 the SNB gained €13B on successful investments, €5B on higher gold prices and €8B on investments in foreign currencies.
It should be noted that in 2010 the SNB lost the record-big amount of €19.2B, mainly on currency interventions to support the Swiss Franc.
According to Agence France-Presse, the final report will be released in March. Until then the data can be revised because the financial aid to the country’s biggest commercial bank UBS hasn’t wasn’t included in the latest report.
There are over 2000 holders of the SNB stock, both companies and individual investors. The controlling stock (62%) belongs to Major Swiss banks.
FOREX.
The Swiss Franc keeps showing weakness against the US Dollar. USDCHF has started implementing the bullish scenario given in the outlook for Jan 12th 2012. According to the Department of Masterforex-V Trading System , wave A H12 is completed. A break above the 0.9594 high will initiate wave C, with targets around 0.9676, 0.9691, 0.9728, 0.9786. A break below the 0.9406 low will complete the rally.
