Europe Heatwave Creates Growth Opportunity for Carrier, Trane, and Johnson Controls, Citi Says 
The government is ‘doubling down’ on its social media ban. But bigger penalties for platforms aren’t enough 
Gold's 365-Day EMA Streak Since Oct 2023 Faces Its First Real Test at $3,980 — Break or Bounce to $4,140? 
Should I take zinc or eat oysters to ward off colds, boost my immune system or improve fertility? 
Gold Surges Above Key EMAs, Bulls Eye Resistance Amidst Bullish Momentum 
Part II — The listing: NFTs as bottle-stamps, and a vault the family is in no rush to sell 
Economic pessimism has set in – but there are reasons for Australians to be hopeful 
A Korean Family Spent 34 Years Hoarding Chinese Tea. Now They're Putting It on the Blockchain. 
Open-Source AI Models Gain Ground as Enterprises Seek Lower-Cost Alternatives, Citi Says 
Latest reserve data from Swiss National Bank (SNB) suggests SNB might have reduced pace of its intervention in September after heavy firing in July.
In July, SNB reported net change in FX reserve by $15.2 billion, which was highest since December last year, just a month before SNB withdrew its 1.20 floor in Euro/Franc.
Back in July, Euro was hovering against France at around 1.03 level, from where by next two month Euro was back trading above 1.10 against Franc. SNB was slowly reducing the pace of intervention from July. In August FX reserve rose by around $9 billion and in September just by $2 billion.
SNB has the largest balance sheet compared to GDP, which is now close to 90% of GDP. So the bank is not likely to continue its massive intervention in the EUR/CHF market but instead push the pair to the direction and let the market do the rest.
Net change in FX reserve is shown in the figure.
It can be inferred from the intervention pattern that SNB in the short term comfortable with the pair trading around 1.10, while utterly discomfort able around 1.03 area.
Euro is currently trading at 1.088 against Dollar.
