SNB & CHF

For there to be a second half rebound, there has to be some established baseline growth. Whatever might have happened, if it was due to “transitory” factors temporarily interrupting the economic track then once those dissipate the economy easily gets back on track because the track itself was never bothered. More and more, though, it appears at least elsewhere that the track was bothered. Whether China, Singapore, or...

© motortion | Dreamstime.com The Swiss government has been looking at measures to shore up the finances of Switzerland’s pension system for some time. The difference between the official retirement age for women (64) and men (65) is an obvious target. Recently, the Federal Council, Switzerland’s executive, said it would include increasing the retirement age of women from 64 to 65 in a package of reforms aimed at...

President Trump moved recently to nominate an avowed sound money advocate, Judy Shelton, to the Federal Reserve Board. That triggered a flurry of superficial and derisive references in the controlled media to Shelton’s past support of a gold standard. For example, CBS News described her as “a believer in the return to the gold standard, a money policy abandoned by the U.S. in 1971.” According to the story, “mainstream...

Swiss Franc The Euro has fallen by 0.35% at 1.1024 EUR/CHF and USD/CHF, July 19(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com - Click to enlarge FX Rates Overview: Comments underscoring the importance of acting preemptively by two Fed officials sent the dollar reeling and helped lift equities after the S&P fell to a two and a half week low. The decline in rates and the US shooting down of an...

Industrial production rebounded in May. But a closer look shows that the improvement was narrowly spread, and euro area manufacturing faces numerous challenges ahead. After two consecutive months of contraction, euro area industrial production (IP, excluding construction) rose by 0.9% month on month (m-o-m) in May, above consensus expectations. Production of consumer goods surged in May. Output of capital goods and...

The likelihood of active FX intervention by the US authorities remains low but is increasing and the Trump administration can be expected to continue to pressure the Fed to cut rates. The Trump administration has been focusing on the US’s trade deficit with some of its main trading partners such as China and Germany. A strong dollar is exacerbating this deficit and has visibly exasperated President Trump. Indeed, the...

US Senator Rand Paul had managed to block the agreement for 10 years. The United States Senate on Wednesday ratified a double-taxation agreement (DTA) with Switzerland, ending years of stalemate. The agreement, which required two-thirds of votes, was accepted by a large majority, according to the US Senate websiteexternal link. This accord, designed to meet international standards on the exchange of bank data, had been...

Produced and published by Global Gold. Our readers probably realize by now, what a proud Swiss fellow I am, and how I take every possible opportunity to argue how Switzerland presents itself as a role model to achieve radical decentralization and respect for civil liberties. It also assures the right of self-determination in an environment where municipalities, cities or smaller states are in competition with each other...

Swiss Franc The Euro has fallen by 0.09% at 1.107 EUR/CHF and USD/CHF, July 18(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com - Click to enlarge FX Rates Overview: Profit-taking continues to weigh on global equities earnings concerns saw the biggest drop in the S&P 500 in three weeks. The MSCI Asia Pacific Index fell for the fourth consecutive session. The Nikkei gapped lower for the second...

The pound to Swiss Franc exchange rate has been on steady decline since May when it peaked at 1.3397. Since then, it has fallen to 1.2245 as Brexit uncertainties continue to weigh on sterling, with the market feeling the prospect of a no-deal Brexit has increased. The franc has also risen in value owing to its status as a safe haven currency, and the continued fears over the global economy. Swiss Franc enjoying the...