{"id":34200,"date":"2023-01-15T19:41:00","date_gmt":"2023-01-15T17:41:00","guid":{"rendered":"https:\/\/economic.karpat.in.ua\/?p=34200"},"modified":"2023-01-15T13:22:44","modified_gmt":"2023-01-15T11:22:44","slug":"a-svajci-frank-elveszitheti-elonyet-mikozben-az-euro-kilatasai-egyre-javulnak","status":"publish","type":"post","link":"https:\/\/economic.karpat.in.ua\/?p=34200&lang=hu","title":{"rendered":"A sv\u00e1jci frank elvesz\u00edtheti el\u0151ny\u00e9t, mik\u00f6zben az eur\u00f3 kil\u00e1t\u00e1sai egyre javulnak"},"content":{"rendered":"<div class=\"wp-block-image\">\n<figure class=\"alignleft size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"600\" height=\"400\" src=\"https:\/\/economic.karpat.in.ua\/wp-content\/uploads\/2023\/01\/1-euro-1-frank-sesleri-yukseliyor-27022001-m2.jpg\" alt=\"\" class=\"wp-image-34202\" srcset=\"https:\/\/economic.karpat.in.ua\/wp-content\/uploads\/2023\/01\/1-euro-1-frank-sesleri-yukseliyor-27022001-m2.jpg 600w, https:\/\/economic.karpat.in.ua\/wp-content\/uploads\/2023\/01\/1-euro-1-frank-sesleri-yukseliyor-27022001-m2-300x200.jpg 300w\" sizes=\"auto, (max-width: 600px) 100vw, 600px\" \/><\/figure>\n<\/div>\n\n\n<p class=\"wp-block-paragraph\"><strong>Az energia\u00e1rak cs\u00f6kken\u00e9s\u00e9vel, a k\u00ednai gazdas\u00e1g \u00fajb\u00f3li megnyit\u00e1s\u00e1val \u00e9s az arra utal\u00f3 jelek er\u0151s\u00f6d\u00e9s\u00e9vel, hogy a Federal Reserve (amerikai k\u00f6zponti bank) lass\u00edthatja a kamatemel\u00e9seket, az eur\u00f3\u00f6vezet kil\u00e1t\u00e1sai javulnak. Ezzel egy\u00fctt pedig az olyan mened\u00e9kdeviz\u00e1k ir\u00e1nti kereslet, mint a frank, amelyet hagyom\u00e1nyosan a piaci turbulenci\u00e1k \u00e1tv\u00e9szel\u00e9s\u00e9re haszn\u00e1lnak, egyre cs\u00f6kken.<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Az optimista v\u00e1ltoz\u00e1s hat h\u00f3nap \u00f3ta el\u0151sz\u00f6r seg\u00edtette az eur\u00f3-frank \u00e1rfolyamot a parit\u00e1son t\u00falra. Ez fordulatot jelent a tavalyi \u00e9vhez k\u00e9pest, amikor a sv\u00e1jci frank a k\u00fcszk\u00f6d\u0151 eur\u00f3val szemben sz\u00e1rnyalt, mivel az infl\u00e1ci\u00f3s \u00e9s recesszi\u00f3s f\u00e9lelmek a befektet\u0151ket a vil\u00e1g egyik legn\u00e9pszer\u0171bb &#8220;mened\u00e9kdeviz\u00e1ja&#8221; fel\u00e9 terelt\u00e9k &#8211; \u00edrja a\u00a0<a rel=\"noreferrer noopener\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-01-15\/swiss-franc-is-losing-its-edge-as-euro-s-prospects-brighten\" target=\"_blank\">Bloomberg<\/a>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Kiran Kowshik, a genfi Lombard Odier devizastrat\u00e9g\u00e1ja szerint a n\u00e9met \u00e9s az olasz k\u00f6tv\u00e9nyhozamok k\u00f6z\u00f6tti k\u00fcl\u00f6nbs\u00e9g is jelzi, hogy a glob\u00e1lis kock\u00e1zati hangulat milyen gyorsan javult. A k\u00fcl\u00f6nbs\u00e9g m\u00e9g akkor is cs\u00f6kken, amikor az Eur\u00f3pai K\u00f6zponti Bank (EKB) jelzi, hogy a hitelfelv\u00e9teli k\u00f6lts\u00e9geknek jelent\u0151sen tov\u00e1bb kell emelkedni\u00fck.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">A franknak az eur\u00f3val szembeni parit\u00e1s al\u00e1 cs\u00fasz\u00e1sa felvetette, hogy a Sv\u00e1jci Nemzeti Banknak (SNB) tal\u00e1n jobban tetszene egy gyeng\u00e9bb valuta, mik\u00f6zben az infl\u00e1ci\u00f3 az exportvez\u00e9relt gazdas\u00e1gban el\u00e9rte a cs\u00facsot. Az eur\u00f3val szembeni teljes\u00edtm\u00e9nye ellen\u00e9re a sv\u00e1jci valuta november eleje \u00f3ta mintegy 8 sz\u00e1zal\u00e9kkal emelkedett a doll\u00e1rral szemben.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">A kamatl\u00e1bak az eur\u00f3 jav\u00e1ra mozdultak el, a Wells Fargo strat\u00e9g\u00e1i szerint az EKB \u00fagynevezett v\u00e9gkamata id\u00e9n val\u00f3sz\u00edn\u0171leg k\u00f6zel 200 b\u00e1zisponttal meghaladja a Sv\u00e1jci Nemzeti Bank\u00e9t.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201eAz EKB folyamatos, agressz\u00edv szigor\u00edt\u00e1sa az elk\u00f6vetkez\u0151 h\u00f3napokban 1,05-ig nyomhatja a devizap\u00e1rt\u201d &#8211; mondta Sven Schubert, a z\u00fcrichi Vontobel vezet\u0151 befektet\u00e9si strat\u00e9g\u00e1ja. Az \u00e1rfolyam ak\u00e1r 1,10-ig is emelkedhet \u201eegy er\u0151sen emelked\u0151 \u00e1rfolyam\u00fa piaci k\u00f6rnyezetben, amelyben a politikai szigor\u00edt\u00e1s folytat\u00f3dik an\u00e9lk\u00fcl, hogy recesszi\u00f3t v\u00e1ltana ki\u201d.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Korl\u00e1tozott \u00e9rt\u00e9kcs\u00f6kken\u00e9s<br>Az opci\u00f3s \u00e1raz\u00e1s az eur\u00f3 frankkal szembeni \u00e1rfolyam\u00e1nak emelked\u00e9s\u00e9t t\u00e1mogatja, a kock\u00e1zati visszafordul\u00e1sok a h\u00e9ten febru\u00e1r \u00f3ta a legmagasabb szintre emelkedtek, a k\u00f6z\u00f6s valuta emelked\u00e9se elleni v\u00e9dekez\u00e9s ir\u00e1nti kereslet megugr\u00e1sa k\u00f6zepette.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">A legt\u00f6bb strat\u00e9ga \u00e9s portf\u00f3li\u00f3menedzser m\u00e9gis egyet\u00e9rt abban, hogy a sv\u00e1jci gazdas\u00e1gi fundamentumok &#8211; bele\u00e9rtve a viszonylag er\u0151sebb defl\u00e1ci\u00f3s nyom\u00e1st \u00e9s a befektet\u0151k azon tendenci\u00e1j\u00e1t, hogy a kock\u00e1zatos eszk\u00f6z\u00f6k ir\u00e1nti kereslet leh\u0171l\u00e9sekor a frankhoz folyamodnak &#8211; azt jelentik, hogy a sv\u00e1jci valuta le\u00e9rt\u00e9kel\u0151d\u00e9se hosszabb t\u00e1von korl\u00e1tozott lesz.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Ha az eur\u00f3\u00f6vezet kil\u00e1t\u00e1sainak kock\u00e1zatai ism\u00e9t feler\u0151s\u00f6dnek, a frank \u00e1rfolyama helyre\u00e1llhat, amint a k\u00f6zponti bankok er\u0151teljesebb jelz\u00e9seket k\u00fcldenek a szigor\u00fabb p\u00e9nz\u00fcgyi felt\u00e9telek sz\u00fcks\u00e9gess\u00e9g\u00e9r\u0151l- mondta Martin Lenz, a frankfurti Union Investment Privatfonds GmbH vezet\u0151 portf\u00f3li\u00f3menedzsere.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"https:\/\/www.napi.hu\/nemzetkozi-gazdasag\/svajci-frank-javulo-euro-kilatasok-ekb.766075.html\" target=\"_blank\" rel=\"noreferrer noopener\">Forr\u00e1s<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Az energia\u00e1rak cs\u00f6kken\u00e9s\u00e9vel, a k\u00ednai gazdas\u00e1g \u00fajb\u00f3li megnyit\u00e1s\u00e1val \u00e9s az arra utal\u00f3 jelek er\u0151s\u00f6d\u00e9s\u00e9vel, hogy a Federal Reserve (amerikai k\u00f6zponti bank) lass\u00edthatja a kamatemel\u00e9seket, az eur\u00f3\u00f6vezet kil\u00e1t\u00e1sai javulnak. Ezzel egy\u00fctt pedig az olyan mened\u00e9kdeviz\u00e1k ir\u00e1nti kereslet, mint a frank, amelyet hagyom\u00e1nyosan a piaci turbulenci\u00e1k \u00e1tv\u00e9szel\u00e9s\u00e9re haszn\u00e1lnak, egyre cs\u00f6kken.<\/p>\n","protected":false},"author":4,"featured_media":34202,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[15,41,49,39],"tags":[205,140289],"class_list":["post-34200","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-a-nap-hirei","category-cikkek","category-hirek","category-vilag","tag-euro","tag-svajci-frank"],"_links":{"self":[{"href":"https:\/\/economic.karpat.in.ua\/index.php?rest_route=\/wp\/v2\/posts\/34200","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/economic.karpat.in.ua\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/economic.karpat.in.ua\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/economic.karpat.in.ua\/index.php?rest_route=\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/economic.karpat.in.ua\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=34200"}],"version-history":[{"count":1,"href":"https:\/\/economic.karpat.in.ua\/index.php?rest_route=\/wp\/v2\/posts\/34200\/revisions"}],"predecessor-version":[{"id":34203,"href":"https:\/\/economic.karpat.in.ua\/index.php?rest_route=\/wp\/v2\/posts\/34200\/revisions\/34203"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/economic.karpat.in.ua\/index.php?rest_route=\/wp\/v2\/media\/34202"}],"wp:attachment":[{"href":"https:\/\/economic.karpat.in.ua\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=34200"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/economic.karpat.in.ua\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=34200"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/economic.karpat.in.ua\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=34200"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}