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The euro has reached its lowest exchange rate against the Swiss franc since January 2015, with experts likening it to the Italian lira due to ongoing economic concerns in the Eurozone. Analysts attribute the euro's weakness to slower growth compared to the U.S. economy and suggest that reforms in tax competition and labor markets are necessary for improvement. Additionally, Germany's reliance on a weak euro may hinder its competitiveness, while broader issues, including France's economic struggles and geopolitical tensions, further complicate the situation.
UBS has set a target of US$2,900 for gold by year-end 2025, citing its role as a preferred hedge against geopolitical tensions, particularly in light of recent escalations involving Russia and Ukraine. Analysts believe the strength of the US dollar may be reaching its limits, suggesting a potential shift in valuation dynamics. As the week begins, gold prices have dipped to around USD 2,690, down from a three-week high.
UBS anticipates four rate cuts by the Federal Reserve, prompting a recommendation to reduce exposure to European markets. Kelvin Tay from UBS Global Wealth Management highlights the potential impacts of this monetary policy shift on the European economic landscape.
The Free University of Bozen/Bolzano has partnered with the South Tyrolean Raiffeisen Banks to offer a €20,000 scholarship for outstanding students in the master's program in Accounting and Finance to study for a year at Baruch College in New York. This initiative aims to enhance students' professional skills and cross-cultural experiences, fostering future talents in local and international finance. The collaboration underscores the importance of supporting young professionals and strengthening ties between academia and the business sector.
UBS has identified palladium as the worst-performing precious metal of 2024, with a 12% price drop attributed to increased volatility and weak demand prospects. Despite a brief rally, the price fell below the critical USD 1,000 mark, and long-term risks loom as the automotive industry shifts towards electric vehicles, potentially leading to oversupply.
Sergio Ermotti, CEO of UBS, prepares to deliver his acceptance speech in Frankfurt after being named "European Banker of the Year 2023." Dressed in a dark suit, white shirt, and blue tie, he expresses that this recognition holds special significance for him.
Gold has surged 5% this week, emerging as a favored hedge against global risks, according to UBS. This increase reflects growing investor confidence in gold as a safe haven amid uncertain economic conditions.
The Swiss stock market experienced notable gains on Friday, driven by demand for defensive stocks amid geopolitical tensions related to Russia's nuclear strategy. Roche rose by 1.3%, Novartis by 2.3%, and the SMI index increased by 1.1% to 11,717 points, with 19 of the 20 SMI stocks gaining. The euro's recovery against the franc also supported the market, while Zurich Insurance climbed 1.0% following positive analyst feedback.
Recent studies reveal a significant pension gap for women, often larger than that of men, particularly in Switzerland where nearly 80% of mothers work part-time. This trend leads to reduced income and long-term salary development issues, contributing to substantial pension shortfalls. The UBS International Pension Gap Index 2024 emphasizes the necessity of private savings to maintain living standards post-retirement, urging early financial planning.
Gold prices have surged above $2,700, driven by escalating geopolitical risks, particularly following President Putin's new nuclear doctrine and military actions in Ukraine. Additionally, a weak Philly Fed index has sparked speculation about potential interest rate cuts in the U.S., further boosting gold's appeal. The sustained rise above this key level is crucial for confirming an upward trend, with the record high of around $2,790 potentially within reach.
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