SNB & CHF

Summary: UK could pay for single market access. UK’s position still seems fluid. The Supreme Court will hear the government’s appeal next week. Sterling has been lifted to its best since October 6 on the back of comments by UK’s Brexit Minister Davis.  In answer to questions in Parliament, Davis acknowledged that access to the EU single market might be secured by the UK paying for it. He talked about making a...

Many older Swiss still remember the Beromünster national transmitter from the golden days of radio. Those days are gone, but the iconic structure is experiencing a new lease of life. (SRF/swissinfo.ch) Of the two transmitters above Beromünster in canton Lucerne, only one remains today and is under cultural heritage protection. The 220 metre steel tower was built 80 years ago with a 60 kW AM transmitter, replacing local radio stations at Zurich, Basel and Bern. Radio signals stopped emitting...

In November 1946 an American military airplane made an emergency landing on the Gauli glacier in the Bernese Alps. All 12 people on board were rescued in a spectacular mission that marked the birth of the Swiss air rescue service REGA. (SRF/swissinfo.ch) On its way from Munich to Marseille a Douglas DC-3 Dakota US military plane crash-landed on a glacier above Meiringen. The US military plane wasn’t allowed to enter neutral Swiss air space. This is why no one expected the Dakota to get...

The Used Goods Question Retail sales in several countries like Germany, Italy, Japan and Switzerland continue to fall. In the United States they have strongly risen recently. We should remind readers, that used goods sold via Ebay or similar, are not contained in this statistics. Still they create economic value for the purchases. By mentality, Swiss, Germans or Japanese pay more attention so that used goods do not...

Summary: Italy’s referendum defeat is not simply a victory for populist-nationalist forces. Freedom Party victory in Austria is a victory for said forces. Even if Hofer wins, there are sufficient checks that make it difficult to hold EU or EMU referendum. The ADP private sector employment estimate will steal some thunder from the official estimate on Friday. Although the two times do not line up tightly in the...

The Swiss consumption indicator by UBS shows improvements. The indicator is still distant from the highs in 2012. At the time stronger growth in Emerging Markets and the weaker franc helped the Swiss economy. In October, the UBS consumption indicator rose from 1.47 to 1.49 points. Positive developments in the automobile market and robust domestic tourism continue to support private consumption. However, the slump...

Swiss Franc EUR/CHF - Euro Swiss Franc, November 30(see more posts on EUR/CHF, ). - Click to enlarge Rates for buying Swiss Francs dollars remain incredibly subdued post Brexit but there has been a general improvement over the last month. Rates for the moment appear to have found support over 1.24 for GBP CHF and this has largely come about following the Trump US presidential election victory. Despite a leaked...

Swiss Franc EUR/CHF - Euro Swiss Franc, November 30(see more posts on EUR/CHF, ). - Click to enlarge Rates for buying Swiss Francs dollars remain incredibly subdued post Brexit but there has been a general improvement over the last month. Rates for the moment appear to have found support over 1.24 for GBP CHF and this has largely come about following the Trump US presidential election victory. Despite a leaked...

Summary: The dot plots are not FOMC commitments or an aggregate view of the FOMC. They are a collection of individual economic forecasts based on the most likely scenario and their view of appropriate policy. The SEP is useful for understanding how Fed officials view the long-term economic parameters, which appears to explain the downward shift in the long-term equilibrium rate for Fed funds. Former Fed chief...

Summary: The dot plots are not FOMC commitments or an aggregate view of the FOMC. They are a collection of individual economic forecasts based on the most likely scenario and their view of appropriate policy. The SEP is useful for understanding how Fed officials view the long-term economic parameters, which appears to explain the downward shift in the long-term equilibrium rate for Fed funds. Former Fed chief...