Tag Archive: newsletter

FX Daily, August 29: Dollar Finds Support, but Downside Correction May Not be Over

2018-08-29

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2018-08-29

The US dollar has steadied after pulling back in recent days, but the downside correction does not appear complete, and month-end flows are still a risk to picking a dollar-bottom. The Australian dollar is the weakest of the majors. The main drag is paradoxically Westpac, one of Australia's largest banks, raised the variable rate mortgage by 14 bp to 5.38%. Others are expected to follow.

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Here’s How We Ended Up with Predatory, Parasitic Elites

2018-08-29

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2018-08-29

Income Inequality, 1913 - 2012
Combine financialization, neoliberalism and moral bankruptcy, and you end up with predatory, parasitic elites. How did our financial and political elites become predatory parasites? Some will answer that elites have always been predatory parasites; as tempting as it may be to offer a blanket denunciation of elites, this overlooks the eras in which elites rose to meet existential crises. Following in Ancient Rome's Footsteps: Moral Decay,...

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Anticipating How Welcome This Second Deluge Will Be

2018-08-29

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2018-08-29

US Treasuries, Jan 2018 - Aug 2018
Effective federal funds (EFF) was 1.92% again yesterday. That’s now eight in a row just 3 bps underneath the “technically adjusted” IOER. If indeed the FOMC has to make another one to this tortured tool we know already who will be blamed for it.

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Günstig Land kaufen – Wie du profitabel kleine Grundstücke kaufst – mit Jack Bosch

2018-08-28

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Land kaufen - Dein kostenloses Immopreneur Starterpaket für Immobilieninvesotren: http://bit.ly/immobilienstarter Im heutigen Interview habe ich Jack Bosch zu Gast. Wir sprechen darüber, wie du es schaffst mit einfach Methoden Land zu kaufen und so hohe Profite mitzunehmen. Jack ist Experte für Land flipping und hat sich in den letzten Jahren ein starkes Immobilienportfolio in den USA aufgebaut. Zusätzlich ist er als Coach tätig und hilft...

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Employment Barometer in the Q2 2018: Sharp Rise in Employment in Switzerland

2018-08-28

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2018-08-28

Switzerland Employment Level, Q2 2018
In the 2nd quarter 2018, total employment (number of jobs) rose by 2.1% in comparison with the same quarter a year earlier (+0.4% with previous quarter). In full-time equivalents, employment in the same period rose by 2.0%. The Swiss economy counted 14 000 more vacancies than in the corresponding quarter of the previous year (+22.6%) and the employment outlook indicator is also indicating an upward trend (+1.1%). These are some of the findings from...

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FX Daily, August 28: Greenback Remains On Defensive

2018-08-28

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2018-08-28

Corrective forces continue to weigh on the US dollar. Sometimes the narratives drive the price action and sometimes the price action drives the narratives. Currently the latter appears to hold sway. The dollar's downside correction began around the middle of the month, well before Powell's August 24 Jackson Hole speech.

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Government Reinforces Critical Infrastructure against Cyber Attacks

2018-08-28

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2018-08-28

In the wake of several major cyber security attacks, the government has released minimum standards for companies and organisations to help protect the country’s critical energy, food, and water infrastructure. Some critics question whether a minimum standard goes far enough as basic services become increasingly dependent on digital technology.

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To Understand America’s Neofeudal Economy, Start with Extortion

2018-08-28

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2018-08-28

US Inflation, 1996 - 2016
Let's spin the time machine back to the late Middle Ages, at the height of feudalism, and imagine we're trying to get a boatload of goods to the nearest city to sell. As we drift down the river, we're constantly being stopped and charged a fee for transiting one small fiefdom after another. When we finally reach the city, there's an entry fee for bringing our goods to market.

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Another Gold Bearish Factor, Report 26 August 2018

2018-08-27

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2018-08-27

Gold and Silver Price
Last week, we said that the consensus is that gold must go down (as measured in terms of the unstable dollar) and then will rocket higher. We suggested that if everyone expects an outcome in the market, the outcome is likely not to turn out that way. We also said that this time, there is likely less leverage employed to buy gold and that gold is less leveraged as well.

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FX Daily, August 27: A Dog Day of Summer

2018-08-27

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2018-08-27

Last week's dollar losses were initially extended in Asia before it came back bid. The euro briefly poked through $1.1650 for the first time in three weeks. However, the gains were sold into, and the euro finished the Asian session near $1.16, where there is a 782 mln euro option expiring, and 2.4 bln euros struck at $1.1625.

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FX Weekly Preview: Macroeconomic Considerations

2018-08-27

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2018-08-27

The force that had pushed the US 10-year Treasury yield to 3% and the dollar above JPY113 at the start of the month, and the euro to $1.13 a couple of weeks ago has dissipated. The 10-year yield is near 2.80%. The dollar was near two-month lows against the yen a week ago, and the euro was back toward the middle of its previous $1.15-$1.18 trading range.

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Emerging Markets: Week Ahead Preview

2018-08-27

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2018-08-27

EM FX was whipsawed last week but ended on a firm note. We look past the noise and believe that the true signals for EM remain higher US interest rates and continued trade tensions, both of which are negative. Turkish markets reopen after a week off. Nothing fundamentally has changed there, and so it still poses some spillover risk to wider EM.

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5 Things Investors Should Know About US Strategic Petroleum Reserves

2018-08-26

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2018-08-26

US Department of Energy announced yesterday offered for delivery between October 1 and November 30, 11 mln barrels of sour crude oil from the Strategic Petroleum Reserves. The move has nothing to do with operationalizing President Trump's complaint that oil prices were too high. Instead, the sales are part of the fiscal compromise in 2015 budget legislation and the health care act of 2016.

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Swiss study recommends 38 weeks of parental leave

2018-08-26

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2018-08-26

Mum and Dad
This week, a government commission gave its verdict on the vote, recommending two weeks of paternity leave instead of the four set out in the referendum’s text. Their commission’s main concerns are centred on the impact on companies and the cost of funding it.

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Q&A mit Thomas Knedel und Gerald Hörhan als Gast

2018-08-25

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Q&A mit Thomas Knedel und Gerald Hörhan als Gast - Dein kostenloses Immopreneur Starterpaket für Immobilieninvesotren: http://bit.ly/immobilienstarter Dieses Video ist bei einem Livestream auf Facebook entstanden, in dem Thomas Knedel und Gerald Hörhan die Fragen der Community beantwortet haben. Jetzt für die Immopreneur Masterclass mit Thomas Knedel bewerben: ▶▶▶ https://thomasknedel.de Immopreneur.de: ▶ http://immopreneur.de...

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Swiss work permit hassles putting off foreign workers

2018-08-25

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2018-08-25

Switzerland has lost some of its appeal for foreign labour, according to a survey by an American multinational management consulting firm. Compared with 2014, Switzerland finished in eighth place – down three positions.

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Merkel, European Autonomy, and the ECB

2018-08-25

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2018-08-25

Merkel has again shown herself to be more wily than most. While pundits, investors, and politicians anticipated she would push hard for a German to replace Draghi as ECB President when his term ends next October. After all, it is German's turn at the helm, and its interests were ridden roughshod over by the extraordinary and prolonged monetary policy.

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Global PMI’s Hang In There And That’s The Bad News

2018-08-25

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2018-08-25

Dollar Cycles General, June 2018
At this particular juncture eight months into 2018, the only thing that will help is abrupt and serious acceleration. On this side of May 29, it is way past time for it to get real. The global economy either synchronizes in a major, unambiguous breakout or markets retrench even more.

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The secrets of the new 200 Swiss franc note

2018-08-24

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2018-08-24

Franc Swiss note
Switzerland began updating its notes starting with the 50 franc note in April 2016. It then issued the new 20 franc note in May 2017, and the new 10 in October 2017. The newest note to grace Swiss wallets, pockets and purses is the 200 franc note, which was launched on 22 August 2018.

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Euro Area PMIs: Still Little Good News Below the Surface

2018-08-24

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2018-08-24

Composite PMIs Germany, France and Eurozone, 2015 - 2018
Although euro area flash PMI indices were roughly in line with expectations in August, some details were less positive than the headline numbers, suggesting that downside risks have not yet disappeared. True, at face value, the small rise in the euro area composite PMI index, from 54.3 in July to 54.4 in August, is consistent with resilient real GDP growth, close to the 0.4% q-o-q pace recorded in Q2.

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