SNB & CHF

Some are holding out hope but we think the stimulus package remains dead; Fed releases its Beige Book report Wednesday; there is a full slate of Fed speakers this week Fed manufacturing surveys for October will continue to roll out; weekly jobless claims will be reported Thursday; BOC releases results of its Q3 Business Outlook Survey Monday Renewed virus restrictions are weighing on the economic outlook for the eurozone; no wonder ECB officials are sounding very...

Join Marc Chandler and Sarwar Kashmeri as they explore the impact on the U.S. of the rise of China's bond market, the rapid appreciation of the Renminbi, and China's emergence from COVID-19 as it records a stunning 4.9% growth in the third quarter

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Swiss Franc The Euro has fallen by 0.04% to 1.0715 EUR/CHF and USD/CHF, October 19(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com - Click to enlarge FX Rates Overview:  Investors have not let the surge of the virus or uncertainty over the UK-EU talks or US fiscal stimulus to stand in their way. Sterling is leading the major currencies higher, returning to the $1.30 area, while global equities are trading higher. In the Asia Pacific region, Chinese...

© David Moreno | Dreamstime.com On 18 October 2020, after an extraordinary meeting, Switzerland’s Federal Council announced masks would become mandatory across all of Switzerland. In addition, certain gatherings of more than 15 people are to be banned and employers are required to follow recommendations for staff to work from home. Since 19 June 2020, the governments of Switzerland’s cantons have played the lead role in combating the COVID-19 epidemic. Today, the...

© Marekusz | Dreamstime.com An updated forecast published this week by the Switzerland’s federal government is less negative than forecasters feared in the middle of the year. The new forecast expects Swiss GDP adjusted for sporting events to fall by 3.8% in 2020 and unemployment to average 3.2% across the year. The forecast in June 2020, predicted a 6.2% fall in GDP and average unemployment of 3.8%. After the relaxation of health policy measures, the Swiss economy...

Risk assets are coming off a tough week. The dollar was bid across the board except for the yen, which outperformed slightly. The only EM currencies to gain against the dollar were KRW and CLP. The major US equity indices somehow managed to eke out very modest gains but stock markets across Europe sank as the viral spread threatens to slam economic activity again. Yet we have seen time and time again that the safe haven bid for the dollar eventually gives way to...

Bob offers his commentary on the movies “The Hunt” and “The Purge”—both produced by Blumhouse Productions—and focuses on whether The Purge storyline offers a challenge to Rothbard’s depiction of anarcho-capitalism. For more information, see BobMurphyShow.com. The Bob Murphy Show is also available on iTunes, Stitcher, Spotify, and via RSS. You Might Also Like The “Old” vs. the “New” Liberalism It is not...

Today’s Western institutions have long been deemed to be sacrosanct. As a matter of fact, though, nation-states are increasingly met with reservation or even outright resentment. Public trust in government is near historic lows, and pillars like the media or democracy are suffering from a loss of confidence. But one modern institution seems to be standing as strong as ever: central banks. Although their role has changed significantly over the course of a few decades...

Jason Burack of Wall St for Main St interviewed economic blogger and author Charles Hugh Smith from the popular blog Of Two Minds http://www.oftwominds.com/blog.html . Charles' blog was voted as the #7 best alternative financial blog websites by CNBC. Charles also has a new book out about entrepreneurship, jobs and careers called, Get a Job, Build a Real Career and Defy a Bewildering Economy. which is a top selling jobs book on Amazon. The book can be purchased here:...