The Swiss franc dipped on Tuesday as Trump and his national security team discussed Iran's proposal to reopen the Strait of Hormuz if the US lifts its blockade.
It remains unclear if Trump, who has repeatedly insisted the central goal of the conflict is keeping Iran from ever obtaining a nuclear weapon, will entertain the reported offer to end the war.
SNB Chairman Martin Schlegel said the outlook for economy hinges on how long conflict-driven energy price pressures persist, warning that prolonged high prices could fuel inflation and weigh on growth.
Although energy makes up a smaller proportion of Swiss household spending than in the EU, he warned that policymakers should not underestimate the wider effects of higher oil prices.
Swiss trade weakened at the start of 2026. Exports fell by 4.2% in Q1, compared with the previous three months, reaching the lowest level since late 2021, according to the official data.
OCBC strategists argue that the currency's safe-haven demand is being constrained by perceived intervention risk. They doubt if policymakers will tolerate sustained appreciation to fight inflation.
The inverse head and shoulders pattern was formed, so the bullish bias remained despite last week's drop. A push above 0.78 per dollar again is likely.
Asset recap
As of market close on 27 April, among EBC major products, Micron Technology shares led gains after Melius Research said demand for memory chips could remain high through the end of the decade.
Northland analyst Gus Richard downgraded AMD from Outperform to Market Perform, arguing that expectations have run ahead of what the next phase of the cycle can realistically support.
Uranium is drawing renewed investor attention as nuclear power becomes more important to energy security, electrification and AI-driven power demand.
EBC Financial Group Disclaimer: This material is for general information purposes only and is not intended as (and should not be considered to be) financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by EBC Global Financial Collaboration or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person.
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