Tag Archive: Featured

Weekly Speculative Positions (as of July 18): Speculators Switch to Net Long Canadian Dollar Futures

The net speculative CHF position has risen from -0.2K logn to 3.7K contracts short (against USD). Speculators are long EUR against both USD and CHF. We wonder how long this will be the case, given that we expect Euro zone inflation to fall under 1%...

FX Weekly Preview: Don’t Be Confused by the Facts or Why Neither the Data nor the Fed Will Alter Market Trends

FOMC is the highlight of the week. Early look at July inflation in Europe may see less pressure. Overall household consumption in Japan is rising, helped by robust labor market, but little new price pressures. The data this week is expected to confirm...

Emerging Markets: Week Ahead Preview

EM FX was mixed on Friday, but largely firmer over the entire week. Top performers were BRL, KRW, and ZAR, while the worst were ARS, MXN, and RUB. FOMC meeting this week poses some potential risks to the global liquidity story that’s supporting EM....

FX Weekly Review, July 17 – July 22: Euro and CHF move upwards against Dollar

Both Swiss Franc and Euro were moving upwards against the dollar. So CHF gained 3% versus the dollar in the last month. CHF losses against the euro are smaller, around 1.3%.

Official: Internal review clears Swiss arms shipments

The head of a Swiss federal office says its handling of export permits for arms manufacturers is improving in the wake of a criminal probe into past shipments. An internal review cleared a federal employee of wrongdoing after prosecutors questioned the...

Millennials Can Punt On Bitcoin, Own Gold and Silver For Long Term

Bitcoin volatility shows not currency or safe haven but speculation. Volatility still very high in bitcoin and crypto currencies (see charts). Bitcoin fell 25% over weekend; Recent high of $3,000 fell to below $1,900. Bitcoin least volatile of cryptos,...

Pharma remains king of Swiss exports

Pharmaceutical and chemical goods pushed Swiss exports to record highs in the first half of this year. The value of goods sold abroad peaked at CHF109.6 billion ($105 billion) in the first six months of 2017 - a 4.4% rise on the previous year. Swiss...

Reports on a Quarterly Survey Conducted: Qualifying Shortage (Labor)

There isn’t a day that goes by in 2017 where some study is released or anecdote is published purporting a sinister labor market development. There is a shortage of workers, we are told, often a very big one. The idea is simple enough; the media has...

Congress’s Radical Plan to End Illegal Money

What Constitution? One of the many downfalls of being the United States Secretary of the Treasury is the requirement to place one’s autograph on the face of the Federal Reserve’s legal tender notes. There, on public display, is an overt record of a...

Swiss banker admits to helping Americans cheat taxes

A former Credit Suisse banker pleaded guilty on Wednesday to charges of aiding Americans in hiding millions of dollars from US tax authorities. Susanne Rüegg-Meier, who worked in the Zurich office of Credit Suisse between 2002 and 2011, entered the...

Gold Hedge Against Currency Devaluation and Cost Of Fuel, Food, Beer and Housing

Gold hedge against currency devaluation – cost of fuel, food, housing. True inflation figures reflect impact on household spending. Household items climbed by average 964%. Pint of beer sees biggest increase in basket of goods – rise of 2464%. Bread...

Emerging Markets: What has Changed

South Korea proposed resuming military and humanitarian exchanges with North Korea. The European Union may sanction Poland over its controversial judicial overhaul. Turkish Prime Minister Yildirim announced a cabinet shuffle after meeting with...

Swiss-US meeting focuses on vocational education and jobs

Swiss Economics Minister Johann Schneider-Ammann on Tuesday expressed satisfaction with his two days of meetings with senior Trump administration officials, capping efforts to boost cooperation between Switzerland and the United States on education,...

China’s Economy Shorthand the Largest Asset Bubble in Human History

The term “ghost city” is a loaded one, often deployed to skew toward a particular viewpoint. In the context of China’s economy, it has become shorthand for perhaps the largest asset bubble in human history. While that may ultimately be the case, in...

India: The Lunatics Have Taken Over the Asylum

Goods and Services Tax, and Gold (Part XV) Below is a scene from anti-GST protests by traders in the Indian city of Surat. On 1st  July 2017, India changed the way it imposes indirect taxes. As a result, there has been massive chaos around the country....

FX Daily, July 21: Dollar Licks Wounds as News Stream Doesn’t Improve

The euro has depreciated by 0.13 to 1.1043 CHF. ECB President Draghi did not argue forcefully enough at yesterday's press conference to dampen the enthusiasm for the euro. The initial dip was quickly bought and the euro chased above last year's high...

Swiss government to take aim at high Swiss prices

Switzerland’s Federal Council wants to introduce new measures to lower prices in Switzerland to curb cross-border shopping, something that it says hurts Swiss businesses. Minister for Economic Affairs, Johann Schneider-Ammann, said in an interview with...

Court sentence in multimillion fraud scheme

A massive money laundering case unfolded on Tuesday in a Swiss cantonal court where an Englishman, his wife and a financial adviser were found guilty in an elaborate multimillion-franc scheme. The district courtexternal link in the canton of Vaud...

Bank Of England Warns “Bigger Systemic Risk” Now Than 2008

Bank of England warn that “bigger systemic risk” now than in 2008. BOE, Prudential Regulation Authority (PRA) concerns re financial system. Banks accused of “balance sheet trickery” -undermining spirit of post-08 rules. EU & UK corporate bond markets...

Russell 2000: The Dangerous Season Begins Now

Readers are surely aware of the saying “sell in May and go away”. It is one of the best-known and oldest stock market truisms. And the saying is justified. In my article “Sell in May and Go Away – in 9 out of 11 Countries it Makes Sense to Do So” in...
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