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The reading of the KOF Economic Barometer dropped drastically in March and is now with 92.9 well below its long-​term average. Accordingly, the Swiss economy can be expected to see a marked decline in growth rates in the near future. This plunge of the Barometer reflects the first economic consequences of the accelerated spread of the Coronavirus. The KOF Economic Barometer fell by 8.9 points in March, from 101.8 (revised from 100.9) down to 92.9. The...

USD/CHF finds decent support near 0.9500 mark and snaps four days of losing streak. The set-up warrants some caution before positioning for any further recovery move. The USD/CHF pair found a decent support near the key 0.9500 psychological mark and staged a goodish recovery on the first day of a new trading week, snapping four consecutive days of losing streak. The positive move lifted the pair to a short-term descending trend-channel breakpoint, turned resistance,...

Zum Schweizer Franken notierte der Euro am Abend weiterhin unter der Marke von 1,06. Konkret wurde das EUR/CHF-Währungspaar bei 1,0587 gehandelt, nach 1,0566 am frühen Abend bzw. 1,0592 am Morgen. USD/CHF ging zu 0,9607 um nach 0,9578 bzw. 0,9558. Dass der Franken zum Euro nicht stärker geworden ist, dürfte wohl der Schweizerischen Nationalbank (SNB) zu verdanken sein. Die SNB hat wohl auch in der vergangenen Woche weiter mit Devisenkäufen gegen eine Aufwertung des...

The Covoid-19 epidemic has an impact on Switzerland’s real estate market.  (Keystone/Ennio Leanza) The Covid-19 crisis could spell an end to the previously rosy situation for Switzerland’s real estate investors. Investors in residential property look back on a successful 2019 both in terms of value increase and of returns. Forecasts for the current year were optimistic until recently, for both property owners and renters. The Swiss National Bank’s negative interest...

High street shops have been closed and some production facilities have been ordered to shut down. (© Keystone / Gaetan Bally) A third of a CHF20 billion ($21 billion) fund offering state guaranteed loans to small and medium sized Swiss companies has been used up just four days after being introduced. The loan facility has already promised CHF6.6 billion in funding of up to CHF500,000 to nearly 32,000 firms – an average of CHF207,000 per company. The speed at which...

India like many emerging market countries around the world holds an enormous stockpile of foreign exchange reserves. According to the latest weekly calculation published by the Reserve Bank of India (RBI), the country’s central bank, that total was a bit less than half a trillion. While it sounds impressive, when the month began the balance was much closer to that mark. Over the last several crisis-filled weeks, officials in India have been fighting against a...

Oren Cass is the executive director of American Compass (AmericanCompass.org), a conservative think tank that stresses the importance of family and domestic industry, in opposition to a singleminded devotion to economic efficiency. Cass was previously a senior fellow at the Manhattan Institute for Policy Research, and was the domestic policy director for Mitt Romney’s 2012 presidential campaign. Bob and Oren have a friendly discussion about their disagreements on...

Swiss Franc The Euro has fallen by 0.36% to 1.0553 EUR/CHF and USD/CHF, March 30(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com - Click to enlarge FX Rates Overview: Risk appetites remain in check as the spread of the coronavirus is leading to more and longer shutdowns. Asia Pacific equities fell with Australia, the notable exception.  Its benchmark rallied a record 7%, encouraged by additional stimulus measures. Led by financials, following new...

Swiss consumers also appear to be rediscovering their love of chocolate. (© Keystone / Gaetan Bally) The value of Swiss chocolate exports topped CHF1 billion ($1.05 billion) for the first time last year, led by increased demand from Canada, the United States, China, the Middle East and Singapore. Domestic consumption of the delicacy also grew slightly following declining demand in previous years. Sales for Swiss chocolate makers rose 2.2% in 2019 to reach almost...

US Dollar Index tumbles to fresh weekly lows at 98.73, down 4% from the top.  US data: Consumer Sentiment Index suffers second-largest monthly decline in March. The USD/CHF pair is falling for the fourth consecutive day amid an ongoing sell-off of the US dollar. The DXY approached earlier on Friday the 100.00 area and recently bottomed at 98.73, the lowest level since March 17. The US dollar remains under pressure, affected by lower US yields. After a short-lived...