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SNB & CHF

FX Daily, August 14: Sigh of Relief Weighs on Yen and Gold, while Lifting Equities and the Dollar

Swiss Franc The Euro has risen by 0.64% to 1.1425 CHF. EUR/CHF and USD/CHF, August 14(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com - Click to enlarge FX Rates The lack of new antagonisms over the weekend between the US and North Korea has prompted the markets to react accordingly.  Already before the weekend, we detected some signs that at least some market participants had begun looking past...

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Weekly SNB Interventions and Speculative Positions: Investors do not take North Korea dispute seriously

FX Despite the tensions between Donald Trump and North Korea’s Kim Jong-un, the EUR/CHF only depreciated to a low of 1.1284. Headlines Week August 14, 2017 On June 27, Draghi told the audience at the annual ECB Forum that transitory factors were holding back inflation. This has boosted the euro against both USD and CHF. Our opinion, however, is that this “transition” is very long, possibly comparable to the Japanese...

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The Secret History Of The Banking Crisis

Accounts of the financial crisis leave out the story of the secretive deals between banks that kept the show on the road. How long can the system be propped up for? - Click to enlarge It is a decade since the first tremors of what would become the Great Financial Crisis began to convulse global markets. Across the world from China and South Korea, to Ukraine, Greece, Brexit Britain and Trump’s America it has shaken...

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The West lost at least another 1000 tonnes of large gold bars in 2015

Over the last number of years, one of the most interesting trends in the physical gold world is the ongoing conversion of large 400 ounce gold bars into smaller high purity 1 kilogram gold bars to meet the insatiable demand of Asian gold markets such as China and India. This transformation of 400 ounce bars into 1 kilogram bars is an established fact and is irrefutable given the large amount of evidence which proves it...

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“Under Any Analysis, It’s Insanity”: What War With North Korea Could Look Like

Now that the possibility of a war between the US and North Korea seems just one harshly worded tweet away, and the window of opportunity for a diplomatic solution, as well as for the US stopping Kim Jong-Un from obtaining a nuclear-armed ICBM closing fast, analysts have started to analyze President Trump’s military options, what a war between the US and North Korea would look like, and what the global economic...

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FX Weekly Preview: Synthetic FX View — Macro and Prices

Summary: Economic data due out are unlikely to change macro views. Swiss franc’s price action suggests some return to “normalcy” despite rhetoric remaining elevated. Sterling’s 3.25 cent drop against the dollar looks over.   An escalation of threatening rhetoric by the United States and North Korea emerged as the key driver last week. The US was unable to build on the success it enjoyed at the UN on August 5...

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La mondialisation de l’esclavage permet la croissance des entreprises. Dossier.

Un Indien travaillant dans une fabrique de briques à l’extérieur de Calcutta, le 7 mai 2017. DIBYANGSHU SARKAR / AFP Nous avons parlé ces derniers temps d’excédents et de déficits de balances commerciales. Pourtant aucune rubrique de cette comptabilité de l’ »intégration » d’un Etat dans le monde globalisé ne pénalise celui-ci en matière d’abus de travailleurs, voire d’esclavagisme. Pire, les abus sont en croissance....

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Swiss rank second in Europe for online spending

“Add to shopping cart”: Regiodata reported in May that online sales represent about 10% of overall retail sales in Switzerland. (Keystone) According to a European comparison, Swiss residents spend the second-most money annually on online purchases, after British shoppers. Each year, people in Switzerland click their way to an average of CHF1,172 ($1,202) in online goods per person. Shoppers in Britain topped the list...

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What the Mainstream Doesn’t Get about Bitcoin

The real demand for bitcoin will not be known until a global financial crisis guts confidence in central banks and politicized capital controls. I’ve been writing about cryptocurrencies and bitcoin for many years. For example: Could Bitcoin Become a Global Reserve Currency? (November 7, 2013) I am an interested observer, not an expert. As an observer, it seems to me that the mainstream–media, financial punditry,...

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