SNB & CHF

Stock Markets EM FX came under intense selling pressures last week. The worst performers were ARS, TRY, and MXN while the best were PHP, KRW, and TWD. US rates are likely to remain the key driver for EM FX, and so PPI and CPI data will be closely watched this week. We believe EM FX will remain under pressure. Stock Markets Emerging Markets, May 08 - Click to enlarge Indonesia Indonesia reports Q1 GDP Monday,...

See the introduction and the video for the terms gold basis, co-basis, backwardation and contango. Waiting for Permanent Backwardation  The price of gold dropped 9 bucks, while that of silver rose 3 cents. Readers often ask us if permanent backwardation (when gold withdraws its bid on the dollar) is still coming. We say it is certain (unless we can avert it by offering interest on gold at large scale). They ask is it...

The Pontifical Swiss Guard is to be equipped with helmets produced on a 3D printer. These decorative high-tech helmets will be made by a company in Stans in the canton of Nidwalden. In the Middle Ages, such helmets were made by hand and were used primarily for protection, as you can see if you visit the extensive helmet collection at the Swiss National Museum. (SRF/swissinfo.ch) --- swissinfo.ch is the international branch of the Swiss Broadcasting Corporation (SBC). Its role is to report on...

The consumer price index (CPI) rose by 0.2% in April 2018 compared with the previous month, reaching 101.7 points (December 2015=100). In comparison with the same month of the previous year, inflation stood at 0.8%. These figures were compiled by the Federal Statistical Office (FSO). Switzerland Consumer Price Index (CPI) YoY, Jun 2013 - May 2018 - Click to enlarge Swiss Consumer Price Index in April 2018 German...

A Starbucks coffee shop in Lucerne, Switzerland (Keystone) - Click to enlarge The Swiss food giant Nestlé is set to pay Starbucks $7.1 billion (CHF7.1 billion) to market the American firm’s products outside Starbucks’ coffee shops. Under the alliance deal, announced on Monday, Starbucks and Nestlé have agreed to work together on marketing strategies and innovation. “This transaction is a significant step for...

Swiss Franc The Euro has risen by 0.08% to 1.1959 CHF. EUR/CHF and USD/CHF, May 07(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com - Click to enlarge FX Rates The US dollar recovered from a softer tone in early Asia and is higher against nearly all the major and emerging market currencies as North American market prepare to start the new week. The news stream is light and investors remain on edge...

Say what one will, US President Trump is vigorously projecting what he believes are American interests. There is virtually no sign of the isolationism that many observers had anticipated. Indeed, as we have argued, the America First rejection of the League of Nations that Trump harkens back to was not isolationist as much as unilateralist. And the same is true of the Trump Administration. He is trying to get North Korea...

Summary Bank Indonesia is taking measures to stabilize the local bond market. The Philippine central bank is tilting more hawkish. Czech National Bank cut its inflation forecasts. The Turkish government is loosening fiscal policy to drum up popular support. S&P downgraded Turkey to BB- with stable outlook. Argentina officials are taking significant measures to support the peso. Brazil central bank made a subtle...