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SNB & CHF

FX Daily, May 09: Dollar Firms amid Position Adjustments

Swiss Franc EUR/CHF - Euro Swiss Franc, May 09(see more posts on EUR/CHF, ) - Click to enlarge FX Rates The election of Macron as French President has set off a bout of position adjustment that has seen the euro push back into the $1.0850-$1.0950 range that had confined activity for the two weeks between the first and second rounds of the French presidential election. The euro fell a cent yesterday after...

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Silver Elevator Keeps Going Down – Precious Metals Supply and Demand

See the introduction and the video for the terms gold basis, co-basis, backwardation and contango. Frexit Threat Macronized The dollar moved strongly, and is now over 25mg gold and 1.9g silver. This was a holiday-shortened week, due to the Early May bank holiday in the UK. The big news as we write this, Macron beat Le Pen in the French election. We suppose this means markets can continue to do what they wanted to do...

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UBS escapes shareholder rebellion fate of rival

UBS shareholders overwhelmingly approved executive bonuses at the bank’s annual general meeting on Thursday. Why such a difference from the Credit Suisse shareholder rebellion seen just one week ago? Both Swiss banks have experienced hard times since their heyday before the financial crash. The shares of both banks have been trading in similar territory (CHF15-17) in recent months from 2007 highs of CHF89 for Credit...

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Bi-Weekly Economic Review

The economic reports since the last economic update were generally less than expected and disappointing. The weak growth of the last few years had been supported by autos and housing while energy has been a wildcard. When oil prices fell, starting in mid-2014 and bottoming in early 2016, economic growth suffered as the shale industry retrenched. I said during that entire time that while the problems in the energy...

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Weekly SNB Interventions and Speculative Positions: Macron will Probably Win the French Elections

Headlines Week May 08, 2017 The centre-left politician Macron has won the French elections. He is a politician that – similar to Hollande four years ago – promises economic improvements, move investment, more jobs. Mostly probably he will fail similar to his predecessor because the French economic reality is simply different. His success moved the EUR/CHF up to 1.0865, mostly caused by FX speculators. But serious...

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Switzerland Unemployment in April 2017: Unchanged at 3.3 percent seasonally adjusted

Unemployment Rate (not seasonally adjusted) Registered unemployment in April 2017 – At the end of April 2017, 146,327 unemployed persons were registered with the Regional Employment Services Centers (RAV), according to the SECO surveys, 5,953 less than in the previous month. The unemployment rate thus fell from 3.4% in March 2017 to 3.3% in the reporting month.  Switzerland Unemployment Rate Not Seasonally Adjusted,...

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