Tag Archive: newslettersent

FX Daily, May 16: Greenback and Dollar Bloc Lose Ground to Europe and Yen

2017-05-16

by

2017-05-16

Dollar selling pressure emerged at the end of last week, partly in response to disappointing US economic data. This selling pressure carried over into yesterday's activity. It appeared to have been trying to stabilize yesterday in the North American session.

Read More »

A Bumper Under that Silver Elevator – Precious Metals Supply and Demand

2017-05-16

by

2017-05-16

Book - A Hole in the Ground with a Liar at the Top
Keith Weiner's weekly look on Gold. Gold and silver prices, Gold-Silver Price Ratio, Gold basis and co-basis and the dollar price, Silver basis and co-basis and the dollar price.

Read More »

Swiss awarded stolen tax CD payment

2017-05-16

by

2017-05-16

Switzerland will receive most of the money paid by the German state of North Rhine-Westphalia (NRW) to a man who provided the state with stolen Credit Suisse client data, it has been confirmed.

Read More »

Inflation Is Oil, But Inflation Is Much More Than Consumer Prices

2017-05-16

by

2017-05-16

CPI Changes On Energy, January 2016 - May 2017
The average annual change in the WTI benchmark price was in April about 25%. That was still a sizable increase year-over-year, and just marginally less than March’s average of 33%. For calculated inflation rates, it represents the last of the base effects that have to this point made it appear as if economic improvement was possibly serious.

Read More »

Earnings Update – The Proof of the Pudding is in the Eating

2017-05-16

by

2017-05-16

S&P 500 Q117 Earnings Growth Rate, December 2016 - May 2017
The first quarter just seemed to zoom by this year, bringing continued optimism (or, animal spirits if you prefer) to the stock market and leaving even higher valuations in its wake. The Standard & Poor’s 500 Index returned an impressive 6.07% for the quarter, on the tail of the previous five consecutive quarters of positive performance.

Read More »

Swiss Producer and Import Price Index in April 2017: +0.8 YoY, -0.2 MoM

2017-05-15

by

2017-05-15

Switzerland Producer Price Index (PPI) YoY, April 2017
The Producer and Import Price Index fell in April 2017 by 0.2% compared with the previous month, reaching 100.1 points (base December 2015 = 100). This decline is due in particular to lower prices for petroleum products and machinery. Compared with April 2016, the price level of the whole range of domestic and imported products rose by 0.8%.

Read More »

FX Daily, May 15: Softer Dollar and Yen to Start the Week

2017-05-15

by

2017-05-15

The US dollar has opened the week softer against the major currencies, except for the Japanese yen. The disappointing US inflation and retail sales data before the weekend have not been shrugged off, even though the US 10-year yield is a little higher and expectations for a Fed hike next month continue to be elevated.

Read More »

Weekly Speculative Positions (as of May 09): Significant Position Adjustment in the Currency Futures

2017-05-15

by

2017-05-15

swiss franc may 15
The net short CHF position has fallen from 17.7 short to 15,2K contracts short (against USD). But the major movement was that speculators are net long the euro now and not the dollar any more. This implies that they are also long Euro against CHF.

Read More »

Yen is the Weakest Currency in the World over the Past Month

2017-05-15

by

2017-05-15

Yen was the strongest currency in the world from mid-March to mid-April. Yen has been the weakest currency over the past month. US rates have risen relative to Japan. Japan has shifted away from QE and toward targeting interest rate.

Read More »

Swiss engineers wanted – nerds need not apply

2017-05-15

by

2017-05-15

tunnel
Too many students turn their backs on engineering thinking it is a career for “nerds”, according to a leading Swiss business lobbyist. Changing this perception is key to plugging an expected shortfall of 50,000 engineering professionals in Switzerland.

Read More »

FX Weekly Preview: Two Known Unknowns

2017-05-15

by

2017-05-15

The Trump Administration seems to be trying to cast the US as a revisionist power. Or perhaps it is like Roman emperors long ago trying to draw greater tribute from others. The outlook of US interest rates is critical to the outlook of the dollar.

Read More »

Emerging Market Preview: Week Ahead

2017-05-15

by

2017-05-15

EM FX ended last week on a firmer note, helped by lower US rates and softer than expected CPI and retail sales data. Stabilizing commodity prices also helped EM. Yet these supportive conditions seem unlikely to persist, and we remain defensive on EM.

Read More »

New 20 Swiss franc note officially launched

2017-05-14

by

2017-05-14

Old-Swiss-franc
The Swiss National Bank is the process of issuing new bank notes. A new 50 franc note hit the streets last year. Now it is the new 20 franc note’s turn. Officially launched today, it will enter circulation on 17 May 2017.

Read More »

Swiss-German ‘spy’ drama raises hackles – and questions

2017-05-14

by

2017-05-14

The sale of stolen Swiss banking data has centered on the German state of North Rhine Westphalia(Keystone) The arrest of a suspected Swiss spy in Germany has raised questions about what roles the Swiss secret service, the state public prosecutor and UBS bank played in the affair. The 54-year-old man, known as Daniel M, is accused of spying on the German tax authorities to find out who sold stolen Swiss banking data.His arrest...

Read More »

A Cloud Hangs Over the Oil Sector

2017-05-14

by

2017-05-14

Oil Barels
As we noted in a recent corporate debt update on occasion of the troubles Neiman-Marcus finds itself in (see “Cracks in Ponzi Finance Land”), problems are set to emerge among high-yield borrowers in the US retail sector this year. This happens just as similar problems among low-rated borrowers in the oil sector were mitigated by the rally in oil prices since early 2016.

Read More »

Lackluster Trade

2017-05-14

by

2017-05-14

US Imports, June 1989 - May 2017
US imports rose 9% year-over-year (NSA) in March 2017, after being flat in February and up 12% in January. For the quarter overall, imports rose 7.3%, a rate that is slightly more than the 2013-14 comparison. The difference, however, is simply the price of oil.

Read More »

FX Weekly Review, May 08-13: Euro rises far above 1.09 CHF, for how long?

2017-05-13

by

2017-05-13

Trade-weighted index Swiss Franc, May 13
The euro rose up to 1.0980. How long this momentum will last is still the question, given that it is driven by this political event and sustained by SNB interventions.

Read More »

How companies in Switzerland become best places to work

2017-05-13

by

2017-05-13

A new ranking shows the best firms to work for in Switzerland – with Google topping the large companies for a third time in a row. Important to employees in all categories: a respectful and motivational work culture. In all, 29 companies were awarded Best Workplaces in Switzerland in the Great Place to Work® Award Ceremony in Zurich on Thursday evening.

Read More »

Easyjet expands in Geneva adding a new aircraft

2017-05-13

by

2017-05-13

Easyjet Tommy-Beattie
On Friday, Easyjet added a 14th aircraft to its Geneva-based fleet. The new Airbus A320 will allow it to add new destinations. The new aircraft will create 36 new jobs on top of the current 500 at the airline’s Geneva base, Thomas Haagensen, Easyjet’s director of northern Europe, told Le Matin Dimanche.

Read More »

Emerging Markets: What Has Changed

2017-05-13

by

2017-05-13

Moon Jae-in was elected president of South Korea. Philippine President Duterte named Nestor Espenilla as central bank governor. Nigerian President Buhari traveled to London for a follow-up to the initial medical visit earlier this year. Market expectations for 2018 inflation in Brazil rose for the first time in more than a year. Peru's central bank unexpectedly started the easing cycle with a 25 bp cut to 4.0%.

Read More »