SNB & CHF

by Reuters * Gold prices could see strong intraday volatility – analyst* UK election, Ex-FBI director testimony, ECB meeting set for later in the day* Downside for gold is “limited” (especially in sterling) Gold held steady on Thursday as investors awaited cues on market direction amid a number of geopolitical events later in the day that could boost the safe-haven demand for the metal. Gold prices in UK sterling...

China’s PMI’s were uniformly disappointing with respect to what Moody’s was on about last week. Chinese authorities expended great effort and resources to get the economy moving forward again after several years of “dollar”-driven deceleration. There was a massive “stimulus” spending program where State-owned FAI expenditures of about 2% of GDP were elicited to make up for Private FAI that at one point last year was...

  The consumer price index (CPI) increased by 0.2% in May 2017 compared with the previous month, reaching 101.0 points (December 2015=100). Inflation was 0.5% compared with the same month in the previous year. These are the results of the Federal Statistical Office (FSO). Switzerland Consumer Price Index (CPI) YoY, May 2017 (see more posts on Switzerland Consumer Price Index, ) Source: Investing.com - Click to enlarge Download press release: Swiss Consumer...

Unemployment Rate (not seasonally adjusted) Registered unemployment in May 2017 – According to the SECO surveys, 139,778 unemployed were registered at the Regional Employment Services Centers (RAV) at the end of May 2017, 6,549 less than in the previous month. The unemployment rate thus fell from 3.3% in April 2017 to 3.1% in the reporting month. Compared to the previous month, unemployment fell by 5,000 persons...

In seinem Standpunkt „Wie entsteht Geld“ (Inside Paradeplatz vom 31.5.2017) bekräftigt Marc Meyer seine These, dass die herrschende Geldschöpfungstheorie grundlegend falsch sei, weil sie auf Goethes Mephisto basiere. Schon vor vielen Jahren hat sich Meyer für eine alternative Theorie der Geldschöpfung eingesetzt. Dass er deswegen seine Stelle verlor und ein Leben lang vom Arbeitsmarkt der Banken ausgeschlossen wurde,...

Swiss Franc The euro is higher at 1.0854 CHF (+0.06%). EUR/CHF - Euro Swiss Franc, June 07(see more posts on EUR/CHF, ) - Click to enlarge FX Rates Tomorrow may be the most important day of the quarter for investors. The ECB meets. The UK goes to the polls. Former FBI Comey testifies.  Ahead of these significant events, the global capital markets are mostly quiet, with some pockets of activity. The US dollar is...

- Click to enlarge The world’s first commercial plant to extract carbon dioxide at industrial scale from the air and sell it directly to a buyer opened near Zurich on Wednesday. The machine pipes the gas to a nearby greenhouse to help grow vegetables. The Swiss firm Climeworks external linkturned on the so-called ‘Direct Air Capture (DAC)’ plant in the farming village of Hinwil, Switzerland. The plant aims to...

The economic reports released since the last of these updates was generally not all that bad but the reports considered more important were disappointing. And it should be noted that economic reports lately have generally been worse than expected which, if you believe the market to be fairly efficient, is what really matters. The disappointing employment report and the generally less than expected tone of the reports...

– Gold prices break 6 year down trend on safe haven demand (see charts)– Chinese gold demand set to surge 50% to 1,000 metric tonnes – Chinese demand for gold bars on track to surge more than 60 percent in 2017 – Geopolitical risk internationally leading to safe haven demand– UK election, terrorism and rising tensions in Middle East supporting gold after attacks in London and attacks in Iran today – Gold is 12.5% higher...

Neuchâtel, 06.06.2017 (FSO) – The hotel sector registered 15.7 million overnight stays in Switzerland during the winter tourist season (from November 2016 to April 2017). This represents an increase of 2.0% (+314,000 overnight stays) compared with the same period a year earlier. With a total of 8.2 million overnight stays, foreign demand rose by 2.1% (+171,000). Domestic visitors registered a 1.9% increase (+143,000)...