SNB & CHF

USD/CHF The USDCHF pair provided positive trading yesterday to test 1.0000 level and settles around it, and as long as the price is below this level, our bearish overview will remain valid, noting that our next target is located at 0.9900, while breaching 1.0000 followed by 1.0055 levels represent the key to regain the main bullish trend again. Expected trading range for today is between 0.9920 support and 1.0055...

Fortunately for Bulls, none of this matters. A relatively reliable measure of complacency/euphoria in the stock market just hit levels last seen in late January, just before stocks reversed in a massive meltdown, surprising all the complacent/euphoric Bulls. The measure is the put-call ratio in equities. Since this time is different, and the market is guaranteed to roar to new all-time highs, we can ignore this (of...

U.S. withdraws from Iran nuclear deal Oil jumps past $70 Argentina hikes interest rates to 40% S. 10 year disparity Western buying returns to gold Gold and silver both ended slightly up in a week dominated by heightening geopolitical news, weakening inflation data, and emerging market concerns.With gold closing the week at $1,318 (up 0.28%), €1,104 (0.37%), and £973 (0.2%). In sterling, gold was up strongly on Thursday...

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The survey found that the pay gap between the highest and lowest earners decreased only very slightly in the years between 2008 and 2016, A government survey analysing wage structures in the Alpine nation found that the median salary for a full-time job in 2016 was CHF6,502 ($6,509) for the entire Swiss economy. The bottom 10% of Swiss earners had a salary of less than CHF4,313 ($4,317), while the best paid 10% earned...

Switzerland is obliged to forward tax information that might interest partner states. For the first time, Switzerland’s Federal Tax Administration (FTA) has sent details on advance tax rulings to its partners in the spontaneous exchange of information deal. The FTA announced on Tuesdayexternal link that it had transmitted a first batch of 82 reports to a total of 41 states, including Britain, France, Germany, the...

Swiss Franc The Euro has fallen by 0.10% to 1.1939 CHF. EUR/CHF and USD/CHF, May 14(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com - Click to enlarge FX Rates The US dollar is sporting a softer profile against most of the major and emerging market currencies to start the new week. It already seemed to be tiring in the second half of last week. With today’s mild losses, Dollar Index is off for a...

Geopolitical issues will continue to bubble below the surface for the capital markets. The fallout from the reimposition of US sanctions on Iran has apparently helped lift oil prices in the face of the rising dollar, which often acts as a drag.  In the coming days, the US will take the symbolic step of moving its embassy to Jerusalem. The conflict between Israel and Iranian forces in Syria is escalating. Meanwhile, US...

Stock Markets EM FX ended Friday on a week note and capped of another generally negative week.  Worst performers last week were ARS, BRL, and TRY while the best were ZAR, RUB, and KRW. We remain negative on EM FX and look for losses to continue. US retail sales data Tuesday pose further downside risks to EM FX. Stock Markets Emerging Markets, May 08 - Click to enlarge India India reports April WPI and...

“Literally On Fire” This week brought forward more evidence that we are living in a fabricated world. The popular story-line presents a world of pure awesomeness. The common experience, however,  falls grossly short. There are many degrees of awesomeness, up to total awesomeness – which is where we are these days, in the age of total awesomeness, just a short skip away from the Nirvana era. - Click to enlarge What is...