The Swiss tourism industry saw a drop in the first half: the hotel industry registered 16.8 million overnight stays, with a 1.2% decline compared to the same period last year. The decrease was due to foreign guests (-2.5%), while domestic demand has held (+ 0.5%). According to figures published today by the Federal Statistical Office (FSO) at the regional level, the Ticino has a low step back (-0.1% to 916'190 nights), an improvement compared to the same period of 2015 (-5, 2%).
The unemployment rate in the US for the month of July remained stable at 4.9%. This was announced by the US Department of Labor. The same source also reported that the new jobs in non-agricultural sectors increased by 255 thousand units. In this case, the figure was higher than analysts' expectations. The estimates, in fact, pointed to an increase of 180,000 jobs. Revised upwards the detection of June to 292,000 jobs from 287,000 earlier.
Support at 100.70 holds, meaning there is still a good chance of a rally, first up to 103 and then up to 105 yen. The former resistance is created by the monthly pivot point, while the latter a lot denser supply zone is much less likely to let the price increase further. There the bulls will encounter the six-month down-trend and the 55-day SMA. Alternatively, if the scenario suggested by the indicators materialises and both 100.70 and 100 fall victim to the selling pressure, we will expect a bullish correction to start only circa 97 yen, when the rate meets the lower bound of the bearish channel.
Switzerland has always been one of the safest havens in the financial field, as evidenced by its public bonds, which until the expiry of 30 years still offer negative returns. The exchange rate between the Swiss franc and euro is practically to the beginning of the year, being rocked in recent months in a fairly narrow range (1.07 to 1.11). The post-Brexit statement was only the second time the SNB has officially confirmed intervention to weaken the Swiss franc since January 2015. The first happened when Greece announced a referendum on its bail-out by European partners.
The race for the White House fascinates the American people and helps the results of companies. Thanks to the Clinton-Trump challenge and election commercials, 21st Century Fox has exceeded analysts' expectations. The media conglomerate posted revenues of $ 6.6 billion for the period ended June 30 (Q4), up 7 percent, and a surge in net income from $ 87 million in the year-May period to $ 567 million. Earnings per share were $ 0.30, up from $ 0.04 During the same time frame last year.
Adidas has closed the second quarter marked by profits substantially doubled to 291 million euro. Earnings per share rose from 0.73 to 1.42 while revenue grew by 13% to 4.42 billion. The German sportswear giant has improved to almost 20% from previous estimates of 15% predicting sales growth during the year.
In Switzerland there are more than six million credit cards, nevertheless the cash continues to be the favored payment method in the country. However, they are very popular in Ticino: according to a survey, 38% prefers to banknotes and coins when go shopping. However, about half of the Ticino and the German-speaking Swiss continues to prefer cash to credit and debit cards. In Romandie the majority prefer to pay with a debit card rather than with cash or credit card, according to the results of the survey conducted by the GfK market research.
First intervention on rates in seven years by the Bank of England. The institute headed by Canadian Mark Carney announced that it has reduced the benchmark rate from 0.5% to 0.25% setting a new low for the cost of money. The measure, already announced but then postponed surprise on July 14, is interpreted as a British economic stimulus in the background of the Brexit uncertainties and new alarm about a possible recession.
Brexit might make its effects felt also in the UK bureaucracy: if all European citizens who live, study and work in Britain would appear to ask for a residence visa, there would be a clogging equal to work for 140 years dispose of all the amount of paperwork. The administrative effects could be very serious: it is the result of a study by the Migration Observatory at Oxford University, as reports the Financial Times. The "right" to residence, depending on the outcome of the referendum may be required for more than 3.5 million people and since, at the time, the Ministry of Interior English is no more than 25 thousand practices a year, the race to seen could create an unprecedented bureaucratic gridlock, since they would be disposed of a file number 140 times higher than average.
The economic recovery in the euro area continued, supported by domestic demand, while export growth remains modest. Looking ahead, the economic recovery should proceed at a moderate pace. The Economic ECB Monthly Bulletin explaining how "domestic demand continues to be supported by the transmission of monetary policy measures of the real economy ECB" but the risks to the outlook for growth "remain on the downside": Brexit, other geopolitical uncertainties, the outlook for growth contained in emerging markets. "It 's likely that inflation rates remain very low in the coming months and then go back later in 2016 in large part due to the reasons of the base effects of change on-year rate of energy prices". In the newsletter it is stressed that with the support of the "monetary policy measures and the expected recovery of the economy, inflation rates are expected to rise further in 2017 and 2018". The ECB continues to expect that interest rates will remain at levels equal to or lower than the current ones for an extended period of time, far beyond the horizon of the net asset purchases. "In economic bulletin states that" if necessary "Frankfurt ready to act "using all the tools available within its mandate." Finally for the ECB, "the bank lending survey in the euro area for the second quarter of 2016 showed further improvement of the offer conditions of loans to businesses and households and the continuing increase in demand for all categories of loans. " Therefore, according to the institute in Frankfurt, "it is essential that the channel of bank loans continue to function properly."
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