Swiss exports have been growing fast, thanks to a rebound in Swiss exporting industries. Key support for the recovery are chemical and pharma products, which reached CHF 9 billion in exports for October, adding CHF 937 million of trade surplus. In total, the trade balance is estimated at CHF 2...
Eurozone equities remain in green, despite continued conflict over Italy’s budget. The BTP-Bund 10-year spread has remained at 3.05-3.15% since last Wednesday, suggesting that investors’ fear over Italian fiscal policy risk is stabilizing...
The Asia-Pacific Economic Cooperation summit closed with no joint communiqué for the first time in its 29 years of existent...
There is a high likelihood that the meeting of US President Donald Trump and Chinese President Xi Jinping later this month won’t be game changing. The best-case would be that both leaders confirm their intent to maintain talks...
The pound’s plunged 1.5% this morning, as uncertainty over Brexit soared. Yesterday, the UK Cabinet approved a 585-page deal drawn up with the European Union...
High-level trade talks have resumed as US President Donald Trump and Chinese President Xi Jinping had a phone call at the beginning of the month, signalling negotiations in anticipation of their upcoming meeting at the G20 at the end of this month...
A Brexit deal is on the table, but will it pass this afternoon’s Cabinet meeting? The cable is currently trading sideways, meaning traders don’t know: we expect GBP/USD to head along 1.2840...
Three weeks after rejecting Italy’s deficit budget proposal, the EU will have to take serious decisions on 21 November. The consequence of inaction could have a tough impact on the Italian government, as Brussels could request Italy to transfer a deposit equivalent of 0...
Oil is rallying marginally as Saudi Arabia expressed interest to cut supply in December. Despite the USA sanctions on Iran that started on 5th November, crude oil prices have fallen...
USD/CNY is trading at 6.9475, bouncing back due to resurgent optimism that the China-US trade war might be resolved in late November and on stable Chinese inflation rates. October inflation came in 2.50% (prior: 2...
Whither the dollar? Dips are recurring in EUR/USD: these are opportunities to reload long positions. Trader are unlikely to hold risky trades over this weekend, although we anticipate a strong USD close today. Positive sentiment from midterm elections has worn-off...
China is ideally positioned, but needs improvement on US trade tensions to stage a solid recovery. We continue to position for a strong China equity bounce. China's inflation has weakened slightly to 2.4% yearly in October from 2.5% in Sept due to weaker food prices...
As US election risk fades, so does risk aversion. However, the risk rally has been weak. High beta, trade sensitive emerging market currencies INR, ZAR, TRY and CLP have seen heavy buying in the past week...
EUR/USD is expected to expand further, approaching the 1.1535 range, as German industrial production continues to grow at a constant pace, 0.80% annually and 0.20% monthly in September, strongly supported by the automotive sector. Factory orders continued to progress, with a monthly rise of 0...
Reaction to the US elections was limited but expected. The Shanghai Composite was down 0.68%: Trump is free to continue his trade war. USD was lower, as combative US politics will head toward gridlock and disorder. Crude prices fell to USD 61...
The US midterm elections could be a critical event. Especially should the result deviate from consensus. Tomorrow election results will be viewed as the first major electoral test of President Donald Trump's policy including trade policies and tax relief...
EUR/USD is currently bouncing off a 1.1312 low (31 October), heading toward 1.1430 short-term. Italy’s deficit budget proposal of two weeks ago has pushed the single currency down against major currencies...
Benefitting from Chinese regulator support via policy measures, Asian shares have been benefitting from a positive trend, stimulated by the bounce in Wall Street. But uncertainties seem to take the ascendant, as trade talks between US and China taking place from 30. November 1...
The US economy is in gear: wages rose 3.1% and non-farm-payrolls climbed by 250,000 in Friday’s report, increasing speculation the Fed will hike more than previously thought. 10-year Treasuries are back above 3.25...
