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SNB & CHF

Gold Prices Likely To Go Higher In 2019 After 4 percent Gain So Far In Q4

Gold traders appear excited about gold again as stocks are on pace for their worst year since 2008, and their worst December since 1931. Bullish bets on the yellow metal outnumbered bearish ones for the week ended December 11, resulting in the first instance of net positive contracts since July, according to Commodity Futures Trading Commission (CFTC) data. As many of you know, December has historically been a strong...

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FX Daily, December 20: Stocks Slump and the Dollar Slides as Market Concludes Fed is Mistaken

Swiss Franc The Euro has risen by 0.20% at 1.1334 EUR/CHF and USD/CHF, December 20(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com - Click to enlarge FX Rates Overview: Once again the US equity market failed to hold on to even minimal upticks. The sharply lower close spurred follow-through selling in global equities. Few have been spared the wrath of investors who apparently were disappointed with the...

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Swiss Trade Balance November 2018: Exports pass for the first time the bar of 19 billion francs

We do not like Purchasing Power or Real Effective Exchange Rate (REER) as measurement for currencies. For us, the trade balance decides if a currency is overvalued. Only the trade balance can express productivity gains, while the REER assumes constant productivity in comparison to trade partners. Who has read Michael Pettis, knows that a rising trade surplus may also be caused by a higher savings rate while the trade...

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Apple will fix tech-glitch to benefit TWINT

Twint is Switzerland’s digital cash. Switzerland’s Competition Commission announced on Tuesday that Apple has agreed to come up with a more competitive technical solution to the benefit of Swiss payment method TWINT. The automatic activation of Apple Pay at payment terminals can interrupt payments made by the TWINT application, noted the commission. “Following the intervention of the COMCO Secretariat, Apple has...

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Why Everything That Needs to Be Fixed Remains Permanently Broken

Just in case you missed what’s going on in France: the status quo in Europe is doomed. The status quo has a simple fix for every crisis and systemic problem: 1. create currency out of thin air 2. give it to super-wealthy banks, financiers and corporations to boost their wealth and income. One way these entities increase their wealth and income is to lend this nearly free money to commoners at much higher rates of...

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FX Daily, December 19: The Fed’s Paws may Still Unsettle Investors

Swiss Franc The Euro has risen by 0.43% at 1.1325 EUR/CHF and USD/CHF, December 19(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com - Click to enlarge FX Rates Overview: The failure of the S&P 500 to sustain even modest upside momentum yesterday is keeping traders on edge today, though another attempt on the upside is likely. Asian equities were mixed, with Chinese and Japanese shares lower. The...

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Majority of Swiss company CEOs are foreign

Mario Greco, the Italian boss of Zurich Insurance More than half of Switzerland’s largest companies have non-Swiss bosses. A total of 52% of CEOs from the 50 firms on the SMI Expandedexternal link stock exchange are from abroad, according to a study published on Monday by the recruitment consultancy Heidrick & Strugglesexternal link. A year ago, when the profiles of Swiss executives were evaluated for the first...

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Industrial Fading

It is time to start paying attention to PMI’s again, some of them. There are those like the ISM’s Manufacturing Index which remains off in a world of its own. The version of the goods economy suggested by this one index is very different than almost every other. It skyrocketed in late summer last year way out of line (highest in more than a decade) with any other economic account. For that reason alone, it has been...

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Why Do Investors Tolerate It, Report 17 Dec 2018

For the first time since we began publishing this Report, it is a day late. We apologize. Keith has just returned Saturday from two months on the road. Unlike the rest of the world, we define inflation as monetary counterfeiting. We do not put the emphasis on quantity (and the dollar is not money, it’s a currency). We focus on the quality. An awful lot of our monetary counterfeiting occurs to fuel consumption spending....

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FX Daily, December 18: Stock Rout Deepens, Casts Shadow over Holiday Spirit

Swiss Franc The Euro has risen by 0.12% at 1.1277 EUR/CHF and USD/CHF, December 18(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com - Click to enlarge FX Rates Overview: The 2% slide in the S&P 500 to new lows for the year yesterday hit Asian and European equities today. Bond yields are lower, and the dollar is softer against most major currencies. The dramatic equity losses and some disappointing...

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