Tag Archives: newsletter

Brunaupark from the air, with Credit Suisse’s Uetlihof building on the right (Keystone) In a modest Zurich neighbourhood, long-time residents of a sprawling apartment complex will lose their homes if a planned renewal project backed by a pension fund goes ahead. Similar projects are happening across Switzerland as funds invest heavily in real estate amid low interest rates. Fifteen minutes from Zurich’s main station by tram, the Brunaupark lies in the southwest of...

The Census Bureau reported today New Home Sales remained at a better than 700k SAAR in September following the big jump over the previous few months. Though the number was slightly lower last month than the month before, it wasn’t meaningfully less. As discussed yesterday, while that might seem the Fed’s rate cut psychology combined with the bond market’s pessimism (reducing the mortgage rate) is having a positive effect, I don’t see it that way. From yesterday:...

Swiss Franc The Euro has fallen by 0.02% to 1.1014 EUR/CHF and USD/CHF, October 25(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com - Click to enlarge FX Rates Overview: Amazon and Intel earnings offered conflicting impulses for Asia Pacific equities, but Japanese, Chinese, Australian, and South Korean shares advanced. This will allow the regional MSCI benchmark to solidify its third consecutive weekly gain. Europe’s Dow Jones Stoxx 600 is little...

US Dollar strengthens during the American session after US data.  Swiss Franc fails to benefit from the demand for safe-haven assets.  The USD/CHF pair rebounded at 0.9890 and climbed to 0.9930, the highest level since October 17. As of writing, trades at 0.9920, up almost 20 pips for the day, on its way to the fourth daily gain in-a-row. The key event today was the European Central Bank meeting but it had a limited impact on currencies. “In a relatively relaxed...

USD/CHF trades near the weekly top following a sustained break of the key resistance confluence. 50% Fibonacci retracement, multiple resistance lines on the buyers’ radar. On early Friday, the USD/CHF pair trades successfully above 21 and 200-day Exponential Moving Average (EMA) confluence while taking the bids to 0.9925. However, the bearish signal from 12-bar Moving Average Convergence and Divergence (MACD) raises doubts over the pair’s further upside. If not, 50%...

Some 92% when people in Switzerland are on the internet and nearly everyone under 55 is an internet user. (© Keystone / Gaetan Bally) The Swiss are using the internet more than ever but have growing angst about companies like Facebook violating their privacy. The consequence is a rising trend to self-censorship: not looking for certain information or not expressing oneself online. The average time the Swiss spend on the internet has doubled since 2011 to 25 hours a...

While the music industry has embraced technology, the luxury sector remains very conservative. (© Keystone / Salvatore Di Nolfi) Swiss luxury startups are finding it difficult to break into an established market that can be averse to change due to longstanding traditions. “When I was working for an auction house a couple of years ago the chairman handed me a gadget a client had given him. It was a USB stick and he did not know what it was.” This anecdote was shared...

Flash PMI’s from IHS Markit for the US economy were split in October. According to the various sentiment indicators, there’s a little bit of a rebound on the manufacturing side as contrary to the ISM’s estimates for the same sector. Markit reports a sharp uptick in current manufacturing business volumes during this month. The manufacturing index came in at 51.5, up from a revised reading of 51.1 in September based almost entirely on the production subset. But at the...

◆ The End Of Fiat In One Chart? ◆ For the first time in 21 years, Germany has openly bought gold into its reserve holdings ◆ With ECB mutiny and Deutsche Bank’s rapid demise, fears are rising of a looming financial crisis, and with that, Germany has shown a renewed interest in gold German Gold Holdings MoM, 1999-2019 - Click to enlarge ◆ Which came after Germany’s stunning announcement in January 2013 that the Bundesbank would repatriate 674 tons of gold from the...

Swiss Franc The Euro has fallen by 0.08% to 1.1014 EUR/CHF and USD/CHF, October 24(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com - Click to enlarge FX Rates Overview: As the UK awaits the EU’s decision on its request, disappointing flash PMI readings Japan, Australia, and Germany have filled the news vacuum. Sweden’s Riksbank retained a hawkish tone while keeping rates on hold, and Norway’s Norges Bank also stood pat. The market expects Turkey to...