The Swiss National Bank releases its Q1 earnings
- Q1 exchange rate loss of CHF 7.0 bn
- Q1 valuation loss on gold holdings of CHF 0.2 bn
- Q1 collection from sight deposits CHF 0.5 bn
Well, with USD/CHF and EUR/CHF lower for the most part in Q1 it's not a surprise that the SNB's long positions got marked negatively.
Just note that the SNB's profit is heavily influenced by the price changes in the assets held, and more often than not the quarterly results have little to no impact on its final year figures for the year.
The SNB will also post up its currency allocation for Q1 2018 in a bit. Stay tuned.
