SNBCHF.COM: "For us, there are five leading factors that are connected with some subsequent indicators. The leading factors are credit or Joseph cycles; current account balances; the financial position of the concerned country; weaker or stronger risk aversion; and the perpetual fact that with time, the difference between richer and poorer countries must become smaller. The subsequent factors are things like interest rates, (reverse) carry trades, the importance of oil prices, and the scarcity of resources."
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