SNB & CHF

Swiss Franc The Euro has fallen by 0.29% to 1.0831 EUR/CHF and USD/CHF, September 03(see more posts on EUR/CHF and USD/CHF, ) Source: markets.ft.com - Click to enlarge FX Rates Overview: A showdown between UK Prime Minister Johnson and Parliament over Brexit pushed sterling below $1.20. The euro is extended its losses after finishing last week below $1.10. Growth concerns are seeing equities retreat. Japanese and Chinese shares managed to eke out gains, but...

100-Franc Note - Click to enlarge The Swiss National Bank (SNB) will begin releasing the new 100-franc note on 12 September 2019, bringing the issuance of the ninth banknote series to a close. The first denomination in the new series, the 50-franc note, entered circulation on 13 April 2016. This was followed by the 20, 10, 200 and 1000-franc notes, which were released at six or twelve-month intervals. The inspiration behind the new banknote series is ‘The many...

02.09.2019 – Turnover in the retail sector rose by 1.5% in nominal terms in July 2019 compared with the previous year. Seasonally adjusted, nominal turnover rose by 0.1% compared with the previous month. These are provisional findings from the Federal Statistical Office (FSO). Real turnover in the retail sector also adjusted for sales days and holidays rose by 1.4% in July 2019 compared with the previous year. Real growth takes inflation into consideration. Compared...

03.09.2019 – The consumer price index (CPI) remained stable in August 2019 compared with the previous month, reaching 102.1 points (December 2015 = 100). Inflation was +0.3% compared with the same month of the previous year. These are the results of the Federal Statistical Office (FSO).The stability of the index compared with the previous month is the result of opposing trends that counterbalanced each other overall. Airfares as well as prices for international...

Markets in the US and Canada were closed on Monday for national Labor Day holidays. Here is a succinct summary of key developments that will set the backdrop for Tuesday. 1. On September 1, the new round of tariffs in the US-China fight took effect. The US placed a 15% tariff on around 3000 Chinese goods that thus far had escaped action. China put a 10% level on 1700 US goods. No date has been given for the next round of face-to-face talks that were expected this...

It isn’t inflation which is driving gold higher, at least not the current levels of inflation. According to the latest update from the Bureau of Economic Analysis, the Federal Reserve’s preferred inflation calculation, the PCE Deflator, continues to significantly undershoot. Monetary policy explicitly calls for that rate to be consistent around 2%, an outcome policymakers keep saying they expect but one that never happens. For the month of July 2019, the index...

Three forces are shaping the investment climate. The US-China trade conflict escalates at the start of September as both will raise tariffs on each other’s goods and are threatening another round in mid-December (US 25% tariffs on $250 of Chinese imports will increase to 30% on October 1). Some third parties may benefit from the re-casting of supply chains, but the first impact is understood to weaken growth impulses. That is aggravating the slowdown already evident...

Equity markets and the US dollar closed last week and August on a firm note. Ahead of the weekend, the dollar rose to new highs for the year against the euro, Swedish krona, Norwegian krone, and the New Zealand dollar. While the next set of US and Chinese tariffs start September 1, the market is making the most of the lull. At the same time, US and Chinese officials probe each other to see if sufficient disruption has been felt to force concessions. Talking and...

USD/CHF remains below near-term resistance-line forming part of immediate rising wedge bearish formation. 200-bar SMA, 50% Fibonacci retracement can question pair’s downside below 0.9857/54 confluence. USD/CHF fails to extend the latest upward trajectory as it trades near 0.9900 during Asian session on Monday. While drawing trend-lines with the help of highs and lows marked since August 23, a short-term rising wedge, bearish formation, appears on the four-hour...

We remain dollar bulls; this is an important data week for the US Final August eurozone manufacturing PMIs will be reported Monday; UK reports August PMIs this week RBA meets Tuesday and is expected to keep rates steady at 1.0%; BOC meets Wednesday and is expected to keep rates steady at 1.75% Swedish Riksbank meets Thursday and is expected to keep rates steady at -0.25%; in EM, the central banks of Chile and Russia meet Market sentiment rallied last week on a lot of...