But not on (a) high: This year has not ended with a traditional Santa Rally and the FTSE has ended the year down 12.12%. Looking on the bright side, a lot better than the Shanghai Composite which was the worst of the major stock markets with a 24.85% decline in 2018. Sterling has found a range for the past few weeks and awaits the next chapter in the unfolding political saga here in London. Putting that aside for the next week or so here’s hoping that Santa brings you all that you wish for!
From all of us here at SGM-FX a very Merry Christmas.
Today’s Global Market:
Discussion and Analysis by Humphrey Percy, Chairman and Founder
Onto June A slew of strong US economic data over recent weeks had boosted expectations for how the culmination of the Fed’s two-day meeting would be presented to the public last night. The story goes back further. The narrative dominant in late-2023 of a US economy in need of restrictive monetary policy was unavoidable. The […]
Germany and the EU The Germany Supply Chain Act came into force in 2023 as a result of Germans wanting to do something good for employees in other countries in particular with respect to human rights and environmental issues. So far so good. But a combination of cost and bureaucracy overlaid with the difficulty of […]
Emergency Stop In the early hours of trading on Monday morning, sudden and significant buying pressure within USDJPY has markets wondering: is this the signal that local authorities are taking another stab at active market intervention? In a critical week for FX, with central bank decisions and a slew of top-level economic data from across […]