• Pivotfarm
    07/27/2014 - 17:57
    There never seems to be a day that goes by without someone predicting that China is going to go down the Yangtze and end up some creek without a paddle.

Swiss Franc

Marc To Market's picture

Fade the Break?





Near-term outlook for the dollar, without resorting to inflammatory and unproven claims.

 
Tyler Durden's picture

The Number Of US Firms Willing To Trade in Chinese Yuan Has Tripled This Year





As the US spreads its message of cheer around the world, it appears an increasing number of trade 'partners' are more than willing to consider alternatives to the hegemony. As AFP reports, China's Yuan usage in global trade and finance has more than doubled this year. While still notably below USD usage in international payments it remains firmly in second place for trade finance and according to a recent survey by HSBC, the number of US companies planning to use Yuan has almost tripled this year (from 8% to 22%). De-dollarization continues...

 
Marc To Market's picture

The Dollar Shakes, But will it Break?





Overview of the price action in the foreign exchange market and a short word on US 10-year Treasuries.

 
Marc To Market's picture

New Ranges in FX





An overview of the price action in the FX market and a look at US 10-year yields.  No ride on an ideological hobbie horse or axe to grind.  Just trying to make sense of the price aciton

 
Marc To Market's picture

FX: Diverging Performances





It is difficult to talk about the dollar in the abstract, especially when it is falling against the dollar-bloc and rising against the euro bloc.  Dispassionate overview.  

 
Marc To Market's picture

FX: As You Were





A look at the likely price action in the forex market in the week ahead.

 
Tyler Durden's picture

Vast Majority Of Swiss Reject $25 Minimum Wage In National Referendum





Six months ago, it was this same Switzerland that, contrary to the prerogatives of the pervasive "fairness doctrine" taking the new socialist world by storm, rejected imposing limits on executive pay. Then mere hours ago, in a move that would give president Obama wealth redistribution nightmares for months, a whopping 77% of Swiss voters rejected an initiative for a national minimum wage of 22 francs, or just under $25, per hour, according to projection by Swiss television SRF. And confirming that when it comes to anti-socialism, Switzerland may well be the last bastion, not a single canton supported the measure.

 
Marc To Market's picture

Correction or Trend Reversal in FX?





Here is the technical reasons why the euro, sterling and Swiss franc retreat is a likely a correction rather than a change of the underlying trend.  US 10-year yields near lows and a recovery could lift the greenback vs JPY.  

 
Tyler Durden's picture

Swiss Bureaucrats In Gold Panic





There should be no 'flexible currency' and no central planning of money. They are at the root of the boom-bust cycle, the very reason for the various crises that have beset Western economies in recent decades. Switzerland would be far better off if no-one had the power to meddle with its money supply. As it is, there has been plenty of meddling already, and quite a bit of suspension of disbelief would be necessary to conclude that there will be no price to pay. As always in monetary matters, the bill will be presented at an unknown future date, but it could be a very big bill in this case... but Switzerland's Keynesian dunderhesds are well on their way to that coming due as they blast any gold repatriation plans as "reducing the credibility of the SNB’s policy."

 
Tyler Durden's picture

Switzerland’s Role In The Gold Market





When one thinks of Switzerland, banking comes to mind easily but gold doesn’t as much. But, "it is said that the Swiss only love money... this is not true. They also love gold." A full two-thirds of the world’s gold goes through Switzerland and, in an average year, it refines grossly 70% of the world’s gold. Six of the gold refiners on the LBMA Good Delivery list make for 90% of global volume, and four of those are in Switzerland. Up until 1992, the Swiss franc’s 40% backing by gold was written in the country’s Constitution. When Switzerland became a member of the IMF it had to abandon this backing by gold. Today, Swiss citizens have asked for a referendum to be called in order to get back to that backing. As Gilles Labarthe wrote, "Switzerland is for gold what Bordeaux is to wine."

 
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