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I wrote a few months ago that Germany’s factories have been the perfect example of the eurodollar squeeze. The disinflationary tendency that even central bankers can’t ignore once it shows up in the global economy as obvious headwinds. What made and still makes German industry noteworthy is the way it has unfolded and continues to unfold. The downtrend just won’t stop. According to Germany’s deStatis, factory orders in December 2019 were down sharply yet again....

Bob Murphy first explains a standard progressive viewpoint when it comes to dealing with issues like virus outbreaks, underage drinking, and prostitution. Yet, when it comes to dealing with people whose views they abhor, the progressives suddenly are “zero tolerance” and ignore the mechanisms they point to for the other issues. For more information, see BobMurphyShow.com. The Bob Murphy Show is also available on iTunes, Stitcher, Spotify, and via RSS....

USD/CHF created a strong bullish recovery while nearing the 2020 highs.  The level to beat for bulls is the 0.9770 resistance.   USD/CHF daily chart USD/CHF is attempting to form a base near multi-month lows while trading below the main daily simple moving averages. USD/CHF daily chart(see more posts on USD/CHF, ) - Click to enlarge USD/CHF four-hour chart The market is nearing the January highs while trading above the main SMAs. Bulls want a break above the...

« La création de monnaie est un processus à deux volets: le premier consiste en la création de monnaie centrale (billets de banque ainsi qu’avoirs en comptes de virement auprès de la banque centrale) par la banque centrale en application du monopole d’émission des billets de banque. Le second est constitué par la monnaie scripturale c réée par les banques commerciales lorsqu’elles accordent des crédits au public (ménages, entreprises » Masse monétaire et prix....

The aisles of Baselworld have been deserted by many watchmakers, who consider the concept of the event to be outdated (© Keystone / Georgios Kefalas) As Baselworld continues to face difficulties, the Swiss watch-making industry needs a new platform to showcase its know-how. With watchmakers going it alone with separate initiatives, one industry expert is pushing for a more collaborative effort to keep the industry thriving. Up until recently, early springtime for...

Representative Sorrell has introduced House Bill 122, a tax-neutral measure to exclude from gross income any net capital gain and any net capital loss derived from the exchange of precious metals bullion. Policies that penalize savers in precious metals reduce the likelihood that Alabama citizens will take prudent steps to insulate themselves from the inflation and financial turmoil caused by the Federal Reserve. In recent years, legislation to remove capital gains...

The number of confirmed coronavirus cases and deaths continue to rise; the dollar continues to climb The January jobs data is the highlight for the week; Canada also reports jobs data The Fed submits its semiannual Monetary Policy Report to Congress today; Mexico and Brazil report January inflation data The downdraft in eurozone industrial data continues; Russia cut rates 25 bp to 6.0% and signaled more easing ahead RBA upbeat but Governor Lowe warns of “significant...

Swiss Franc The Euro has fallen by 0.07% to 1.0692 EUR/CHF and USD/CHF, February 7(see more posts on EUR/CHF, USD/CHF, ) Source: makets.ft.com - Click to enlarge FX Rates Overview: A more cautious tone is evident today in the markets, which seem to have run well ahead of macro developments and evidence that the new coronavirus is not yet contained. After a roughly 3.5% advance in the past three sessions, the MSCI Asia Pacific index pulled back with nearly the...

Where to now for Thiam? (© Keystone / Ennio Leanza) Credit Suisse chief executive Tidjane Thiam has resigned from his post following a highly damaging spying scandal that has rocked Switzerland’s second largest bank. Thiam’s departure is nevertheless a surprise as most media expected chairman Urs Rohner to depart. Thiam will leave the bank on February 14 when he will be replaced by Thomas Gottstein, who is currently CEO of Credit Suisse’s Swiss operations. The news...

USD/CHF trades with a positive bias for the fourth consecutive session. The 0.9700 mark might now act as a strong base for bullish traders. The USD/CHF pair edged higher for the fourth consecutive session on Thursday and is currently placed near one-week tops, levels just below mid-0.9700s. Any subsequent positive move is likely to confront stiff resistance near the 0.9765-70 region (testing twice in January) and kept a lid on any further gains. The mentioned barrier...