SNB & CHF

Headlines Week March 06, 2017 We were arguing in the last weeks, that the EUR/CHF is trending towards parity. There are three reasons: Continuing SNB interventions Strengthening Swiss local demand, as also visible in the GDP release. Speculators increase their dollar shorts against Euro and reduce them against CHF. Point 3 was not fulfilled last week. FX Last week:The EUR/CHF remained around 1.0650, the level where the...

Swiss Franc Speculators were net short CHF in January 2015, shortly before the end of the peg, with 26.4K contracts. Then again in December 2015, when they expected a Fed rate hike, with 25.5K contracts. The biggest short CHF, however, happened in June 2007, when speculators were net short 80K contracts. Shortly after, the U.S. subprime crisis started. The carry trade against CHF collapsed. The...

The week ahead features the ECB meeting and the US February jobs report. The Reserve Bank of Australia meets, Europe reports industrial production, Japan reports January current account figures, and China reports its latest inflation and lending figures. We frame this week’s discussion of the drivers in terms of four sets of questions and offer some tentative answers. United States What is the significance of the...

Stock Markets EM FX was mostly softer last week, though it ended the week firmer, buoyed by outsized MXN gains Friday.  The Fed is sending very strong signals for a March hike, which should keep EM FX on its back foot.  However, with the March 15 FOMC embargo coming into effect, there will be no Fed speakers after Kashkari on Monday.  Jobs data on Friday will be the highlight, but given the Fed’s signals, we do not...

© Denis Linine | Dreamstime.com Currently, anyone ordering something from outside Switzerland, must pay Swiss Post an administrative charge if their package attracts import tax (duty and/or VAT). In addition, they must pay Swiss Post an additional CHF 13 if the parcel needs to be opened, usually because the package has been poorly labelled. Swiss Post has a contract with Swiss customs to process packages coming into the...

  Swiss Franc Currency Index The Swiss Franc index remained in its ranges. It is now trending downwards, while the dollar index is strengthening Trade-weighted index Swiss Franc, March 04(see more posts on Swiss Franc Index, ) Source: markets.ft.com - Click to enlarge Swiss Franc Currency Index (3 years) The Swiss Franc index is the trade-weighted currency performance (see the currency basket)On a three years...

ABSTRACT: https://matasii.com/is-retail-commercial-real-estate-the-next-financial-implosion/

© Ocskay Mark | Dreamstime.com Swiss cigarette prices will not rise over the coming years unless manufacturers increase the underlying price. On Tuesday, Switzerland’s Council of States (upper house), withheld permission to allow the Federal Council (cabinet) to continue hiking the tax on smokes. From 2005 to 2015, the price of Switzerland’s best selling cigarettes rose from CHF 6 to CHF 8.50. Of this increase only CHF...

Michel Simonet has been devoted to cleaning the streets of Fribourg for 30 years. He has written a book about his experiences, thoughts and observations, which has now been published in German. (SRF/swissinfo.ch) “Mit Besen und Rose” (With a broom and a rose) is a homage to the street cleaner’s profession, calling on the reader to look more closely at everyday occurrences and to find the joy in the simple, yet beautiful things in life. --- swissinfo.ch is the international branch of the...

Economic Reports Scorecard The economic data released since my last update has been fairly positive but future growth and inflation expectations, as measured by our market indicators, have waned considerably. There is now a distinct divergence between the current data, stocks and bonds. Bond yields, both real and nominal, have fallen recently even as stocks continue their relentless march higher. The incoming, current...