SNB & CHF

Key points: Q/Q GDP growth: +0.1%, YoY GDP growth: +0.7% Until 2014, Swiss GDP was driven by net exports: Exports were rising more quickly than imports, which improved GDP. Positive change in the trade balance in goods: Recently only the trade balance of goods continued to increase (+8.1% YoY exports, +1.4% YoY imports in Q1/2016) Negative change in the trade balance for services (+6.7% YoY) increased more than the export of services (+2.0%). Exports of services are for example banking...

The Parasite – easily the most terrifying Superman villain Image credit: Marvel The Parasites Begin to Attach Themselves BALTIMORE – “Tommy… who are you voting for?” We put the question to a local bulldozer operator whom we’ve known for at least half a century. Tommy, now 80 years old, is the last of a dying breed. He grew up plowing the earth to grow tobacco on Maryland’s Tidewater, on the western shore of the Chesapeake Bay. In the 1970s, when tobacco farming became unprofitable, he...

The fact OPEC just agreed to agree on nothing in Vienna isn’t particularly surprising given Doha wounds are still festering from the last attempt at ‘petro-diplomacy’. But the engagement ultimately has to been knocked up as a partial success for Saudi Arabia, where it’s managed to put itself back at the centre of cartel politics by thawing the ‘freeze discussion’ on Riyadh’s terms. Confused? Don’t be. As we flagged in OPEC Politics, Doha’s failure left a very dangerous door open for...

 ECB press conference June 2 2016 Held in Vienna with Governor Nowotny Keep key ECB interest rates unchanged Will be kept at present or lower for an extended period of time, exceeding asset purchase program (80bn per month) which will end March 2017 sector program will start June 8 TLTRO start in June New measures will strengthen growth in euro area through credit expansion Very low inflation must not become entrenched in second round effects through effects on wages and prices. ECB...

Already a trend in German-speaking Switzerland, food delivery by bike courier is becoming a trend also in the French-speaking part of the country. (RTS, swissinfo.ch) --- swissinfo.ch is the international branch of the Swiss Broadcasting Corporation (SBC). Its role is to report on Switzerland and to provide a Swiss perspective on international events. For more articles, interviews and videos visit swissinfo.ch or subscribe to our YouTube channel: Website: http://www.swissinfo.ch...

The traditional Swiss cheese called “Tête de Moine” has been produced in the Jura region for 800 years. It now has its own festival. (SRF/swissinfo.ch) --- swissinfo.ch is the international branch of the Swiss Broadcasting Corporation (SBC). Its role is to report on Switzerland and to provide a Swiss perspective on international events. For more articles, interviews and videos visit swissinfo.ch or subscribe to our YouTube channel: Website: http://www.swissinfo.ch Channel:...

Many foreigners who work here in summer can claim unemployment benefit back home in the winter, and the Swiss pick up the bill. (SRF/swissinfo.ch) --- swissinfo.ch is the international branch of the Swiss Broadcasting Corporation (SBC). Its role is to report on Switzerland and to provide a Swiss perspective on international events. For more articles, interviews and videos visit swissinfo.ch or subscribe to our YouTube channel: Website: http://www.swissinfo.ch Channel:...

The US dollar remains under pressure.  It is off for the third day against the yen and slipped below JPY109 for the first time in a little more than two weeks.  The Nikkei struggled to cope with the foreign exchange developments, lost 2.3%, the most in a month, after gapping lower.  At JPY108.50, the dollar would have given back 50% of its rally off the May 3 low near JPY105.50.   Below there, the JPY107.80 is the 61.8% retracement.   The euro is north of $1.12 after having briefly...

Switzerland has the highest proportion of cremations in Europe, and they have tripled over the past thirty years. (RTS/swissinfo.ch) --- swissinfo.ch is the international branch of the Swiss Broadcasting Corporation (SBC). Its role is to report on Switzerland and to provide a Swiss perspective on international events. For more articles, interviews and videos visit swissinfo.ch or subscribe to our YouTube channel: Website: http://www.swissinfo.ch Channel:...

01.06.2016 09:15  – FSO, Economic Surveys (0353-1605-70) The Used Goods Question Retail sales in several countries like Germany, Italy, Japan and Switzerland continue to fall. In the United States they have strongly risen recently. We should remind readers, that used goods sold via Ebay or similar, are not contained in this statistics. Still they create economic value for the purchases. By mentality, Swiss, Germans or Japanese pay more attention so that used goods do not lose their value...