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Many financial centers in Asia and Europe are on holiday today, and those that are open, are experiencing a minimum of activity.  Turnover may pick up briefly in the North American morning, but conditions will remain thin and only those who need to transact will.   The US reports weekly jobless claims and the Chicago PMI.   The holiday-shortened week may limit the changes in the weekly jobless claims though we note that the four-week moving average finished 2014 near 287k, and now it...

The US dollar will finish 2015 higher against both the euro and yen.  Sometimes those of us who follow the economic and financial news closely can get caught up with the short-term fluctuations.  As traders that is what we do.  . Investors, however, can take a longer look at developments.   Taking a step back, we note that this is the fourth consecutive year that the yen has fallen against the dollar.  The greenback closed 2011 near JPY77.  It will likely finish this year near JPY120....

The foreign exchange market is becalmed, leaving the US dollar narrowly mixed in uneventful and light turnover. The euro has been confined to less than a third of a cent range. Yesterday it briefly dipped below its 20-day moving average for the first time since the ECB met earlier this month. It remains in the upper half of the two-range ($1.08-$1.10) that has confined prices most of this month. There was only one close outside of this range (December 9) since that ECB meeting.   The...

The trajectories of the monetary policy at the Federal Reserve and the European Central Bank are diverging.  It is the keystone of our anticipation of further euro weakness in the year ahead.  In addition to this monetary divergence, there is a geopolitical divergence that will be of growing significance.  At the heart of the geopolitical divergence lies asymmetrical threat perceptions.  Simply, if crudely put, the US perceives a greater threat from Russia's actions than many in...

I had the privilege of talking with Scarlet Fu and Joe Weisenthal on Bloomberg TV. They gave me an opportunity to discuss my big picture view of the dollar and the Obama dollar rally. While the Reagan dollar rally was driven by the policy mix, and the Clinton dollar rally was driven by the tech bubble, the Obama dollar rally is being driven by monetary policy divergence. Divergence itself has a bit of a history. The first phase was about what other countries were doing, namely easing...

The US dollar is narrowly mixed. The euro and yen remain within yesterday's ranges, while sterling continues to trade heavily. The stabilization of oil prices has not lifted the Canadian dollar, while the other Antipodean currencies turn higher. Emerging market currencies are mostly lower, though the South African rand is slightly firmer. The Russian ruble's decline has been extended into the fourth sessions and brings its loss this month to 8.5%, the worst performing emerging market...

In 2015, it was on average 2.2 degrees Celsius hotter in Switzerland than the year before, in fact the hottest it has been since measurements began in 1864. Scientists think global warming may be contributing to weather extremes like this. (SRF/swissinfo.ch) --- 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...

The spread of antibiotic-resistant bacteria in meat has reached alarming levels with the highest proportion found in chicken. Lab tests have now shown that heritage breeds such as Bresse, Mechelen and Jersey Giant chickens are free of antibiotic-resistant bacteria. An entrepreneur in Thurgau is investing in these breeds, which have almost become extinct because they are not profitable enough for modern-day poultry production. (SRF/swissinfo.ch) --- swissinfo.ch is the international branch...

The Basel Dove was the first multi-coloured printed postage stamp in the world. An exhibition is being held in canton St Gallen to mark the 170th anniversary of the renowned stamp. (SRF/swissinfo.ch) --- 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:...