Tag Archive: newsletter

FX Daily, November 27: Market Shrugs Off Latest US Tariff Provocation

2018-11-27

by

2018-11-27

The global capital markets have taken the US latest tariff threats in stride.  Most of the Asian equity markets advanced, including Japan, Korea, Taiwan, India, and Australia. China and Hong Kong were exceptions with marginal losses. European markets are trying to extend their recovery for a third session, but the industry performance is mixed with energy and materials lower, and utilities, consumer staples, and information technology/communication...

Read More »

Swiss Among top Coffee Consumers

2018-11-27

by

2018-11-27

The Swiss love their coffee and knock back more than three cups per day. They came in third, behind Germans and Norwegians, in an international ranking of coffee consumers. The Swiss drank no less than 1100 cups of coffee per person per day, according to a ranking published on Monday by CafetierSuisseexternal link, a catering industry employer’s association.

Read More »

Near-term Outlook

2018-11-27

by

2018-11-27

There are three key scheduled events between now and the end of the year.  In chronological order, this weekend G20 meeting is first.  It will shape expectations for trade tensions between the US and China, with extensive secondary impact. Saudi Arabia and Russia's meeting may help shape expectations for the price of oil, which has collapsed here in Q4 18.

Read More »

A Golden Renaissance, Report 25 Nov 2018

2018-11-26

by

2018-11-26

Gold and Silver Price
There is the freedom of speech battle, with the forces of darkness advancing all over. For example, in Pakistan, there are killings of journalists. Saudi Arabia apparently had journalist Khashoggi killed. New Zealand now can force travellers to provide the password to their phones so the government can go through all your data, presumably including your gmail, Onedrive, Evernote, and WhatsApp.

Read More »

Employment Barometer in the Q3 2018: Solid Employment Growth

2018-11-26

by

2018-11-26

Switzerland Employment Level, Q3 2018
In the 3rd quarter 2018, total employment (number of jobs) rose by 1.6% in comparison with the same quarter a year earlier (+0.1% with previous quarter; seasonally adjusted figures). In full-time equivalents, employment in the same period rose by 1.8%. The Swiss economy counted 13 500 more vacancies than in the corresponding quarter of the previous year (+23%) and the employment outlook indicator continues to indicate an upward trend (+1.0%). These...

Read More »

Italy and the EU: a debt-based excessive deficit procedure

2018-11-26

by

2018-11-26

Italian General Government Debt 2006-2022
European Commission deems Italy's budget noncompliant with EU rules.This week, the European Commission issued its opinion on Italy’s budget plans. Deeming them noncompliant with the EU’s budgetary rules, it recommended that an Excessive Deficit Procedure (EDP) be opened.Of the options available to the EU, a debt-based EDP would be the most difficult for Italy to deal with, as it would last longer and require Italy to ensure its debt stock...

Read More »

Gold and Silver Hold Firm as Stocks and Oil Lower in to US Holiday Weekend

2018-11-26

by

2018-11-26

Relative Performance
Key Gold and Precious Metals News, Commentary and Charts This Week. Gold and silver traded sideways this week as we saw stock markets take some heat and undo most of the recent recovery from the October sell off. Oil has sold off and is now at levels that we haven’t seen since 2017.

Read More »

Bern corporate tax cuts flop at ballot box

2018-11-26

by

2018-11-26

Voters in canton Bern have rejected a proposal to lower corporate taxes, dealing a surprise blow to the government and parliament trying to give the canton a competitive edge. Nearly 54% of voters on Sunday came out against a planned lowering of tax rates for companies headquartered in the canton meeting certain criteria.

Read More »

FX Weekly Preview: Powell and Draghi, Xi and Trump

2018-11-26

by

2018-11-26

The investment climate will be shaped by three events next week.  ECB President Draghi's testimony before the European Parliament to kick-off the week.  Fed Chairman Powell speaks to the NY Economic Club in the middle of the week.  Presidents Trump and Xi are to meet at the G20 meeting to end the week in hopes of dialing back the escalating trade conflict.  Also at the G20 summit, the NAFTA2.0 is expected to be signed, and the steel and aluminum...

Read More »

Swiss Post Office appoints CEO to steer clear of controversy

2018-11-25

by

2018-11-25

The Swiss Post Office has appointed a new chief executive to lead the state-owned company out of a troubled few months following a subsidies scandal that came to light earlier this year. Roberto Cirillo will take over at the helm next April, replacing interim boss Ulrich Hurni, the Swiss Post announced on Thursday. Hurni has been minding the fort since Susanne Ruoff was forced to quit as CEO in June.

Read More »

Switzerland’s electronic motorway vignette to be optional

2018-11-24

by

2018-11-24

Swiss-vignette
This week, Switzerland’s Federal Council decided the planned electronic motorway vignette will be optional. Drivers will be able to choose. Anyone wanting to drive on Switzerland’s motorway network must first buy a vignette, a road tax sticker introduced in 1985, which must be displayed on the windscreen. It currently costs CHF 40.

Read More »

Swiss Unemployment Benefits Cut for a one-day filing delay

2018-11-24

by

2018-11-24

Swiss-unemployment-benefits
Switzerland’s unemployment benefits might be generous but they are strictly policed, as one recipient recently discovered. For a period of up to approximately two years after losing a job, most workers in Switzerland receive 70% of their former salary up to a maximum of CHF 88,200 a year – the amount paid varies depending on circumstances1.

Read More »

FX Daily, November 23: Friday

2018-11-23

by

2018-11-23

The US dollar is firmer against most of the major currencies. Japanese and Indian markets were closed for holidays and a weaker than expected flash EMU PMI helped keep the euro pinned near this week's lows. Although the EU seemed to thrown UK's embattled May a lifeline with some compromise wording in a draft declaration, the challenge remains the same--Parliament's approval.

Read More »

Two-thirds of Swiss see artificial intelligence as job threat

2018-11-23

by

2018-11-23

Only 34% of Swiss people believe their jobs are not at risk from automation and machine learning, according to a survey commissioned by the Swiss Broadcasting Corporation (SBC). Almost half of the 2,092 people surveyed by the Link Institute for SBC felt that some of their daily tasks could be done by machines and algorithms, while 15% were convinced that robots could do much of their work.

Read More »

Construction Industry Production, Orders and Turnover Statistics: lncrease in construction production in Switzerland in 3rd quarter 2018

2018-11-22

by

2018-11-22

Switzerland Industrial Orders, Q3 2018
Secondary sector production rose by 1.1% in 3rd quarter 2018 in comparison with the same quarter a year earlier. Turnover rose by 3.1%. In comparison with the previous year industrial production grew in July by 3.3%, in August by 1.7%, then fell in September (-0.4%). For the whole of the 3rd quarter 2018 production increased by 1.4% in comparison with the same quarter a year earlier.

Read More »

Cool Video: CNBC Squawk Box

2018-11-22

by

2018-11-22

I was part of the "Trading Block" on CNBC earlier today. The sharp fall in stocks and oil would have led many, like Joe, to anticipate dollar weakness. Instead, the dollar rallied. Perhaps, I suggested, the dollar was acting like a safe haven. Bill yields are high enough to make cash a reasonable alternative to park one's savings.

Read More »

Skills Shortage on the Rise in Key Professions

2018-11-22

by

2018-11-22

Switzerland’s talent shortage is more pronounced in 2018, a new survey has found. Technical, financial, and medical professions are most affected, while job seekers in the hospitality, retail, and administrative sectors face the greatest competition.

Read More »

Pound to Swiss Franc: CHF Strengthens Due to Events around the Globe

2018-11-21

by

2018-11-21

Brexit continues to put pressure on sterling and we are still waiting to find out if a vote of no confidence is called. The Prime Minister is in Brussels today meeting with Jean Claude Juncker. if the media get wind of any developments this could influence the Pound to Swiss Franc (GBP/CHF) rate, but in general the Pound remains under pressure which is helping the Franc to strengthen.

Read More »

FX Daily, November 21: A Semblance of Stability Returns

2018-11-21

by

2018-11-21

Yesterday's frenzy has burnt itself out for the moment. Equities began recovering in Asia after early losses. China, including Hong Kong, Singapore, and Thailand closed higher and European markets are recouping some of yesterday's decline. The Dow Jones Stoxx is trying to snap a five-day decline and is up a little more than 0.5% near midday.

Read More »

Taxes and insurance eat up almost 30percent of Swiss household income

2018-11-21

by

2018-11-21

Swiss households spend an average of 29% on mandatory payments like taxes, social contributions and health insurance. Figures released by the Swiss Statistical Office on Monday reveal that, based on 2016 data, a Swiss household had an average income of CHF7,124 ($7,140), of which CHF2,910 was eaten up by unavoidable expenses.

Read More »