Swiss carried 1.62 million people in August, an increase of 0.1% compared to the same month last year. The Swiss airline, controlled by the German Lufthansa, has increased by 9.6% in terms of seats / km compared to August 2015. As a result, the load factor declined by 3 percentage points to 86.8%: in July, had reached 87.9%. Overall, the number of flights has remained unchanged at 13,285 in August, while traffic, expressed in passenger-kilometers flown, was up 6%, it said in a note today's Swiss.
Although yesterday in the morning the upside seemed limited, the price managed to mount 102 yen, thus closing above the monthly PP and alleviating some downward pressure. Nevertheless, the 55-day SMA stays intact, suggesting the near-term outlook remains negative and 100.80/70 is still a viable target. This support mainly consists of the 50% retracement of the 2012-2015 rally and monthly S1. Additional strong demand is seen at 100 yen, and for the time being this we consider to be the floor.
It is too risky to continue to postpone a rate hike. Especially since there are "reasonable terms" so that they are raised. The message delivered by Eric Rosengren, president of the Federal Reserve Bank of Boston is very clear. And the market returns to fear monetary tightening, perhaps sooner than imagined. Considering US central bank's meeting on next 20 and 21 September, there are very few contrary convinced that the institute led by Janet Yellen will resume as early as this month, the normalization of monetary policy started in December 2015 for the first time since June 2006. This is demonstrated by a survey of the Wall Street Journal, that only 13.1% of economists expects an increase in Fed rates in less than two weeks. According to 73.8% of respondents, there will not be tight until December.
The high value of the franc is the key for Switzerland to become richer: Reiner Eichenberger, professor of economics at the University of Fribourg, is convinced. "The strong franc creates disadvantages as a production location, but even greater advantages for the consumer: we import more cheaply, so costs go down", explains the specialist in an interview published by the financial portal Cash.
Banca Monte dei Paschi di Siena said Chief Executive Fabrizio Viola has agreed with the bank’s board to resign; the summit was dedicated to updates on the business plan and the rescue maxi-operation institution with a recapitalization of up to 5 billion euro. Just the difficulties of placing an increase of that magnitude, as evidenced by the banks business operation to work on the market, would have led to the choice to present the third increase in three years with a different banker.
DLT Financial &Tramonex, a London-based start-up said they would launch the first fund to track an index of digital currencies such as bitcoin in the coming weeks. The project could open up the market and simplifying access to this particular type of asset, breaking the wall that still separates many people from understanding what are the bitcoins and how they work.
Walter Berchtold, the new CEO of Falcon Private Bank, is to resolve issues faced by its Singapore unit in connection with the 1Malaysia Development Berhad (1MDB) scandal. Berchtold, who will officially assume the role next month, plans to travel to Singapore upon assuming office, Swiss business paper Handelszeitung reported.
The ECB's board has confirmed the interest rates at 0%. Also unchanged rates on the marginal lending facility and the deposit facility, respectively, still 0.25% and -0.40%. The plan of purchases "Quantitative easing" has been extended until March 2017 "and beyond if necessary." The institute claimed to maintain asset purchases of €80 billion Euro per month.
US media company Liberty Media acquires Formula 1: the deal, which evaluates the sport $ 8 billion, starting with the acquisition of a 18.7% stake for $ 4.4 billion. Bernie Ecclestone remains CEO, while Chase Carey was named president. The full acquisition will take place when the agreement will be permanently closed, expected in the first quarter of 2017. In detail, Liberty Media - reports the CNBC - would pay $ 1.1 billion in cash, $ 131 million in the communication group actions and 351 million in the form of debt issued by the same Formula One.
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