Gold Surges Past $4150 on Dovish Fed Signals and Weak Jobs Data; Bullish Outlook Prevails 
Goldman AM Sees Strong Buyout Opportunities in Japan, South Korea and Australia 
US Inflation Expected to Ease in June, but Fed Rate Hike Risks Persist Amid Middle East Tensions 
Citi Raises TSMC Price Target as AI Chip Demand Strengthens Growth Outlook 
JPMorgan Cuts Gold Price Forecast, Sees Bullion Reaching $4,500 by End of 2026 
Morgan Stanley Says China’s Reusable Rocket Progress Poses Long-Term Challenge to SpaceX 
Gold Pulls Back After Hitting $4,180 as Geopolitical Risk Sends Crude Higher 
Goldman Sachs Says China Competition Weighs More on EU Growth Than Trade Deficit 
Removal of Euro-Franc Peg in January by Swiss National bank isn't turning out as pessimists thought it would be. After mild slowdown in economic activity for few months after the initial jolt, Swiss manufacturing is continuing to pose its resilience.
- Yesterday, KOF leading indicator improved in August, overwhelming the expectation of a deterioration by most of the economists surveyed by Bloomberg. The indicator improved to 100.7 in August from 100.4 in July, beating median estimate of 99.5.
And, today's PMI data gave evidence that improvement in the indicator hasn't been a fluke.
- SVME PMI for August improved to 52.2, much better than prior 48.7 in July and beating analysts' estimate of 49.7.
This improvement strengthens the idea that in spite of strong Franc and slowdown in China, Swiss manufacturing products are finding customers and growing.
Franc on the other hand is likely to consolidate as two forces are clearly fighting to gain control over the currency. Swiss National Bank is attempting to push Franc lower with regular intervention and safe haven flows bidding Franc in time of global turmoil.
USD/CHF is currently trading at 0.962, down -0.33% today so far.
