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USD/CHF gains positive traction for the third consecutive session on Wednesday. Optimism over coronavirus treatment triggered a fresh wave of global risk-on trade. The USD benefitted from surging US bond yields and remained support ahead of data. The USD/CHF pair surged through the 0.9700 round-figure mark and climbed to near one-week tops in the last hour, albeit retreated few pips thereafter. The pair gained some follow-through traction for the third consecutive...

In Switzerland, 133,000 employed persons are affected by poverty, both in terms of income and deprivation. (© Keystone / Georgios Kefalas) About a third of the food produced for Swiss consumption went to waste last year, according to the food bank foundation Schweizer Tafe/Table Suisse. That is the equivalent of 2.6 million tonnes of food. Five percent of the losses occurred in the retail trade. The foundation collected 3,820 tonnes of food that was not for sale but...

In a bit of holiday news no one will care about, the Treasury announced it would return to selling twenty-year treasury bonds to aid in funding the nation’s trillion-dollar deficit. It was 1986 when the Treasury last issued twenty-year paper. Of course the question is: who or what will be the buyers? Daniel R. Amerman, CFA, is keeping a steady eye on the Treasury and Fed’s operations and has come to the conclusion, In just the last four months, the U.S. government...

Swiss Franc The Euro has risen by 0.13% to 1.0716 EUR/CHF and USD/CHF, February 5(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com - Click to enlarge FX Rates Overview: The S&P 500 gapped higher and surged 1.5% yesterday, the most since in six months, helping set the stage for a continued recovery in global equities, and stoked risk appetites more broadly. An experimental antiviral treatment is to begin clinical testing. All of the markets in the...

The Titlis mountain is a key destination for Chinese tourists in Switzerland. The tourism industry in central Switzerland could benefit from increased efforts to focus on individual holidaymakers from China, according to a study. A report by the Lucerne University of Applied Sciences and Artsexternal link found that guests from China travelling individually in Europe take a special interest in culinary events and that they are likely to receive information about new...

USD/CHF extends recovery from mid-January lows. A ten-week-old falling trend line, short-term horizontal resistance area will challenge the pair’s latest pullback. The pair’s break of yearly low can push the bears towards late-2018 lows. USD/CHF takes the bids to 0.9700 during the pre-European session on Wednesday. That said, 21-day EMA limits the pair’s immediate upside amid the bullish MACD signals. Even if the pair manages to clear the 0.9700 mark on a daily...

© Vitezslav Vylicil | Dreamstime.com The tobacco company Philip Morris International (PMI) has unveiled plans to cut jobs at its sites in Lausanne and Neuchâtel. A total of around 265 jobs are likely to go. Most of them will be transferred to the UK, Portugal and Poland. The company has opened formal processes in both cantons and those affected will be informed between now and the end of March 2020, it said. The company said its restructuring plans are part of its...

Rolling over in credit stats, particularly business debt, is never a good thing for an economy. As noted yesterday, in Europe it’s not definite yet but sure is pronounced. The pattern is pretty clear even if we don’t ultimately know how it will play out from here. The process of reversing is at least already happening and so we are left to hope that there is some powerful enough positive force (a real force rather than imaginary, therefore disqualifying the ECB)...

[This article is excerpted from chapter 14 of Human Action.] It is generally believed that economists, in dealing with the problems of a market economy, are quite unrealistic in assuming that all men are always eager to gain the highest attainable advantage. They construct, it is said, the image of a perfectly selfish and rationalistic being for whom nothing counts but profit. Such a homo economicus may be a likeness of stock jobbers and speculators. But the immense...

The dollar continues to climb; one of side-effects of the virus has been a swelling of the amount of negative yielding debt globally The US primary season got off to a rocky start for the Democrats During the North American session, December factory orders will be reported; the US economy remains strong The UK reported January construction PMI The RBA held rates at 0.75%, as expected; Korea January CPI came in hot at 1.5% y/y The dollar is mixed against the majors as...