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Tag Archives: newslettersent

FX Daily, August 01: Trade and Japan Drive Markets Ahead of Stand Pat Fed

Swiss Franc The Euro has risen by 0.11% to 1.1588 CHF. EUR/CHF and USD/CHF, August 01(see more posts on EUR/CHF and USD/CHF, ) Source: markets.ft.com - Click to enlarge FX Rates Investors recognize the risks to growth posed by the tariffs and counter-tariffs being imposed, but the way the US is going about it is also disconcerting. Within a few hours of signals that the US and China were looking to re-engage...

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Russia Sells 80 percent Of Its US Treasuries

Description: In just over 2 months Russia has sold-off over 85% of its holdings of U.S. Treasuries, should the U.S. be concerned? – Russia has liquidated 85% of its US Treasury holdings in just two months – Russia dumps over $90 billion of Treasuries in April and May as holdings collapse from near $100 billion to just $9 billion – Deepening geo-political tensions between Russia and U.S. and Russian concerns about the...

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Tensions Beyond Trade

Chinese officials do not seem to appreciate the extent of its isolation. The disruption from the US as Trump positions the US as a revisionist power-one that wants to alter the world order, which it was instrumental in constructing, may have obscured the fact that China’s practices are a source of frustration and animosity broadly and widely. Chinese officials do not seem to understand why Europe, for example, does not...

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Central bank back in the black after shaky 2018 start

Swiss National Bank Chairman, Thomas Jordan, pictured in April 2018. The Swiss National Bank (SNB) has reported strong profits for the first half of the year, largely thanks to a weakening franc and gains in the foreign currency market. The results, published in an SNB press releaseexternal link on Tuesday, show overall profits of CHF5.11 billion ($5.17 billion) for the first six months of 2018, compared with CHF1.22...

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Separating Signal from Noise

Claudio Grass in Conversation with Todd “Bubba” Horwitz Todd Horwitz is known as Bubba and is chief market strategist of  Bubba Trading.com. He is a regular contributor on Fox, CNBC, BNN, Kitco, and Bloomberg. He also hosts a daily podcast, ‘The Bubba Show.’ He is a 36-year member of the Chicago exchanges and was one of the original market makers in the SPX. Before you listen to the podcast, I would like to provide...

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FX Daily, July 31: BOJ Prepares for QE Infinity

Swiss Franc The Euro has risen by 0.15% to 1.1582 CHF. EUR/CHF and USD/CHF, July 31(see more posts on EUR/CHF and USD/CHF, ) Source: markets.ft.com - Click to enlarge FX Rates The Japanese yen has been sold following the adjustments to policy and outlook by the BOJ that will allow the unconventional policies continue for an “extended period of time.” Cross rate pressure and month-end demand have lifted the...

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French Q2 GDP growth marks time

A number of one-off factors hurt growth dynamics, but there are many reasons to think that expansion will pick up in the rest of this year. France is the first country in the euro area to publish Q2 GDP figures. The economy expanded by 0.2% q-o-q in Q2, the same pace as the previous quarter and below consensus expectations of 0.3%. The key source of disappointment was private consumption, which was hit by one-off...

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Ceasefire in US/EU tariff dispute

The two sides have agreed to discuss lowering barriers to transatlantic trade, helping to de-escalate tensions. While positive, the US’s dispute with China still needs watching. US President Trump and EU Commission President Juncker this week struck an unexpected deal to de-escalate the trade dispute between the EU and the US. Importantly, Trump agreed to put his threat of tariffs on EU cars on hold as bilateral trade...

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FX Daily, July 26: Equities like EU-US Trade Truce more than the Euro

Swiss Franc The Euro has fallen by 0.29% to 1.1597 CHF. EUR/CHF and USD/CHF, July 26(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com - Click to enlarge FX Rates The dollar is mostly firmer. The Australian dollar is off the most (~0.35%, ~$0.7425), after peaking a little above $0.7460. The price action reinforces the $0.7300-$0.7500 range. The yen is the strongest of the majors. Near JPY110.80, the yen...

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Swiss bank settles US tax evasion probe

A Swiss-US agreement allows wrongdoers to settle financially to avoid criminal prosecution in the United States. The Zurich-based Neue Privat Bank (NPB) has paid $5 million (CHF5 million) fine to settle a criminal tax evasion investigation in the United States. NPB is one of a handful of so-called ‘category 1’ Swiss or Swiss-based bank branches that were still facing sanctions at the start of this year. On Thursday the...

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