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FX Daily, October 26: Troubling Start of the Important Week

Swiss Franc The Euro has fallen by 0.05% to 1.0717 EUR/CHF and USD/CHF, October 26(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com - Click to enlarge FX Rates Overview: The surging virus ravaging large parts of Europe and the United States is fanning concerns over the economic implications as new social restrictions and curfews are announced in several countries. US additional fiscal support remains elusive as aid for states and local governments...

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New Swiss initiative to further restrict construction

© Dnaveh | Dreamstime.com Land use is strictly governed in Switzerland. However, a new initiative, which aims to increase construction restrictions further, recently gathered enough signatures to qualify for a a popular vote. The initiative, dubbed the countryside initiative, was officially registered after gathering 104,487 valid signatures, more than the 100,000 that must be collected within 100 days to qualify for a referendum. The federal law on land management...

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EM Preview for the Week Ahead

EM FX took advantage once again of broad dollar weakness. Most EM currencies were up last week against the dollar, with the only exceptions being ARS, TRY, INR, THB, PEN, and MYR. We expect the dollar to remain under pressure this week and so EM should remain bid. However, the growing spread of the virus in Europe and the US supports our view that Asia is likely to continue outperforming. AMERICAS Chile held a referendum Sunday on whether to draft a new constitution....

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Econtradictions: Bob Discusses Free Trade, Welfare Benefits, Price Gouging, and Utility Theory

Bob unveils a new series in which he explains and then evaluates apparent contradictions in the way free-market libertarians handle certain issues. Mentioned in the Episode and Other Links of Interest: Bastiat’s “Petition of the Candlemakers” Bob’s article on price gouging For more information, see BobMurphyShow.com. The Bob Murphy Show is also available on iTunes, Stitcher, Spotify, and via RSS. You Might Also Like...

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Next Up: Global Depression

The belief that central banks printing currency can “buy/fix” everything that’s broken, lost or scarce is the ultimate in denial, fantasy and magical thinking. Let’s revisit the pandemic projection chart I prepared on February 2, 2020, nine days after authorities publicly acknowledged the Covid virus outbreak in China. Wave 2 shown on the chart is now underway with a vengeance and next up is Global Depression. . This projection was based on two well-known...

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Coronavirus: Geneva hospital calls for volunteers as numbers rise rapidly

© Martinmark | Dreamstime.com On Sunday 25 October 2020, Geneva’s HUG hospital issued a call for volunteers as the number of Covid-19 patients rises rapidly. The hospital seeks medical, care and administrative volunteers to bolster and relieve their staff. In addition, they seek those who might have recently retired or who are on leave. Bertrand Levrat, the hospital’s chief, said that it’s highly likely that the hospital’s peak number of 550 Covid-19 patients reached...

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Ultimatum in Belarus gegen Lukaschenko endet – Massenprotest startet

Dabei sollen Forderungen nach einer Freilassung aller politischen Gefangenen, nach einem Rücktritt Lukaschenkos und nach Neuwahlen im Vordergrund stehen, teilten die Organisatoren mit. Das sind zugleich die Kernpunkte eines Ultimatums an Lukaschenko, das am Sonntag ausläuft. Weil aber keiner der Punkte erfüllt ist, droht an diesem Montag ein Generalstreik. Die Gegner sehen sich nicht zuletzt beflügelt durch die Zuerkennung des Sacharow-Menschenrechtspreises des EU-Parlaments am vergangenen...

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Wachstumsmarkt – Erneuerbare Energien erhalten Schub durch Covid-Krise

"Der Trend zu erneuerbaren Energien ist sehr klar", sagte Glover in einem Interview, nachdem er diese Woche auf dem virtuellen BloombergNEF-Gipfel in London gesprochen hatte. "Wie viele Sektoren können heute inmitten dieser schrecklichen Krise eine solche Klarheit bezüglich des Wachstumspotenzials vorweisen?" Immer mehr politische Entscheidungsträger, Führungskräfte und Investoren sehen nach der Pandemie die Chance, eine Weltwirtschaft wieder aufzubauen, die weniger von fossilen Brennstoffen...

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Zwei von sieben Regierungssitzen in Basel-Stadt neu zu besetzen

Obwohl mit Christoph Brutschin und Hans-Peter Wessels gleich zwei SP-Regierungsräte nach drei Amtsperioden nicht mehr antreten, offenbaren die bürgerlichen Parteien erneut personell bedingte Schwierigkeiten beim Versuch, die Machtverhältnisse in der Exekutive zu ändern. Anders als noch vor vier Jahren haben die Parteien FDP, CVP und LDP die SVP nicht mehr ins Boot geholt. Die bislang nicht in der Exekutive vertretene SVP tritt mit dem 56-jährigen Rechtsanwalt und Quereinsteiger Stefan Suter...

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