SNB & CHF

Swiss Franc The Euro has risen by 0.22% to 1.1626 CHF. EUR/CHF and USD/CHF, July 24(see more posts on EUR/CHF and USD/CHF, ) Source: markets.ft.com - Click to enlarge FX Rates Following a record injection via the medium-term lending facility yesterday, China’s officials unveiled a set of policies designed to support the weakening economy that soon could face a substantial drag from US tariffs. The effort...

Fundamentals remain solid but the decline in some forward-looking indicators in July signal downside risk in the coming months. Markit’s euro area flash PMI surveys for July came in on the soft side. The composite PMI for the euro area fell to 54.3 in July from 54.9 in June, below consensus expectations. At the sector level, the manufacturing PMI index rose marginally, putting a halt to six consecutive months of...

  Quantity Theory Revisited The price of gold fell another ten bucks and that of silver another 28 cents last week. Perspective: if you are waiting for the right moment to buy, the market is offering you a better deal than it did last week (literally, the market price of gold is at a 7.2% discount to the fundamental price vs. 4.6% last week). If you wanted to sell, this wasn’t a good week to wait. Which is your...

First steps towards a legalization of cannabis in Switzerland? The Federal Council wants to allow life-size tests. --- 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: http://www.youtube.com/swissinfovideos Subscribe:...

I had the privilege to join Alix Steel, the Bloomberg anchor, and Laird Landmann from TCW on the set earlier today. Here is the link to the 2.5-minute clip. The issue is the dollar’s outlook. The greenback had looked to be on the verge of breaking out higher before the US President expressed disapproval with the Fed rate hikes and, then the following day, aggressively accused the EU and China of manipulating their...

The nation’s premier corporate profit engines / social media giants are the ideal platforms for undermining the U.S. via the sowing of disintegration. Whether it’s stated or not, one source of the inchoate outrage triggered by Russian-sourced purchases of adverts on Facebook in 2016 (i.e. “meddling in our election”) is the sense that the U.S. is sacrosanct due to our innate moral goodness and our Imperial Project: never...

Swiss Franc The Euro has fallen by 0.24% to 1.1609 CHF. EUR/CHF and USD/CHF, July 23(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com - Click to enlarge FX Rates US Treasury Secretary Mnuchin told G20 finance ministers and central bankers that President Trump was not trying to interfere in the foreign exchange market or encroach upon the Federal Reserve’s independence. Trump’s comments and tweets...

See the introduction and the video for the terms gold basis, co-basis, backwardation and contango. Quantity Theory Revisited The price of gold fell another ten bucks and that of silver another 28 cents. Perspective: if you’re waiting for the right moment to buy, the market is offering you a better deal than it did last week (literally, the price of gold is a 7.2% discount to the fundamental vs. 4.6% last week). If you...

Labour rules are a major sticking point in trade talks between Switzerland and the European Union. Swiss authorities sanction on average ten companies per day for violating wage protection rules, according to official figures. That corresponds to 19,200 fines in the span of five years. NZZ am Sonntag external linkpublished these figures on Sunday on the basis of a list compiled by the State Secretariat for Economic...

It was supposed to be a quiet week. The economic data and event calendar was light. There were three features, and none would likely disrupt the markets much. Eurozone The first two are in Europe. The eurozone flash PMI for July, the first insight into how Q3 has begun. The PMI is expected to paint a mostly steady economic activity. The June composite PMI rose for the first time since January, and it is forecast to be...