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SNB & CHF

USD/CHF Price Prediction: Now probably in a short and medium term bull trend

USD/CHF continues rising and might have established a medium-term uptrend.  It is likely to continue higher although it is potentially overbought and a downside gap risks closing.  USD/CHF is rising up and forming a sequence of higher highs and higher lows which indicates it is probably in both a short and – now also – a medium term uptrend. Given it is a key tenet of technical analysis that “the trend is your friend” the odds favor more upside...

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Does the Central Bank Determine Interest Rates?

Most experts agree that, through the manipulation of the short-term interest rates, the central bank can also determine the direction of the long-term interest rates. Some popular thinking alleges that the long-term interest rates are the average of the present and the expected short-term interest rates. Hence, it would appear that the central bank is the key in determining the interest rates. But is this valid?Individual time preferences and interest ratesAccording...

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Dollar Firm, China Briefing Light on Details, and Its Data Remain Poor

Business travel will prevent the updating of the blog in the coming days.  It resumes October 19 with the Week Ahead.  Overview:  The lack of details from China's fiscal briefing, the soft CPI (and deeper PPI deflation), and a smaller than expected trade surplus did not prevent Chinese equities from advancing (CSI 300 +1.9%). Industrial commodities, such as oil, copper, iron ore, are mixed. Among the G10 currencies, the Australian dollar often acts as the China...

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Will Politicians Toxify Freedom Forever?

The official theme song of the Kamala Harris presidential campaign is “Freedom” by Beyonce. But a more accurate theme would be the Rolling Stones classic, Under my Thumb. Vice President Harris is seeking the presidency as the greatest champion of freedom in modern times. But Kamala-style freedom will only unleash the government, not private citizens.The original Bill of Rights created a row of bulwarks for citizens to prevent government oppression. In the era of the...

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Ignore The New Power Demographic at Your Own Risk: Young Male Voters

Cries of “Trump is Hitler!” and attempted assassinations have dominated coverage of the upcoming presidential elections. This deprives an intriguing issue of attention. An August 24th New York Times article by culture columnist Claire Cain Miller states the issue: “In some ways, this presidential election has become a referendum on gender roles.” Gender gaps between how men and women vote are not new. But “it is now close to, or certainly in the ballpark of, the...

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Victory Is Our Goal

[This article is adapted from Murray Rothbard’s 1977 keynote address to the Libertarian Party.]I used to think that adopting the victory of liberty as the overriding goal must be almost self-evident to all libertarians — until I began to find those who turned pale and fled when the word “victory” was mentioned. For there are all too many libertarians who apparently believe that the point of the whole enterprise is not triumph in the real world, but all sorts of other...

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Weekly Market Pulse: Questions

As we enter the final quarter of 2024, there are a lot of questions facing investors. There are, of course, always a lot of questions because investors are always dealing with the future, but today’s environment does seems to have more than usual. Some of these questions concern short-term considerations and while they are important, it is more important to remain focused on the long-term trends. Here’s what I’m thinking about lately: Let’s get the one everyone is...

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