SGM-FX veteran Graham exhausted with trying to explain Brexit to his clients over the past 3 years has asked me for 3 examples of things that had taken less time to accomplish (NB accomplish….!) and here they are:
Building the Titanic( 2 ¼ years)
Flying the 35 million miles from Earth to Mars ( 10 months)
Building the Eiffel Tower (2 years)
Crude oil increased in price to the high of the year at $62.58 on the back of power cuts in Venezuela affecting output, reduction in supply from Saudi Arabia and lower US production. News in that China and the US have resolved most issues in the way of a trade deal sent Asian stock markets higher. US Treasury bond yields rose to 2.5%. The USD weakened marginally against all currencies and the EUR index strengthened 0.2%. GBP weakened initially on further uncertainty and Theresa May agreeing to meet Jeremy Corbin to try and find a way through the impasse. The European response? A NoDeal Brexit is more likely than THAT making progress. Gold little changed at $1292.
Discussion and Analysis by Humphrey Percy, Chairman and Founder
Japanese Yen With JPY at a new 34 year low versus EUR, the market is set for an ambush by the Bank of Japan if it acts today at the end of their Policy Meeting to support the Yen. The reason that the market is susceptible is because it has convinced itself that the BoJ […]
Too soon to call USD lower Those following the US Dollar’s performance in the markets would have noted a recent downturn accelerating as this week has progressed. There have been two factors driving this sell-off but it is far from certain that either may endure long enough to push the Dollar index back to its […]
Milan, Italy The City of Milan has a late night noise problem and so it has acted unilaterally to resolve it-Italian style. A ban on the sale of take away food including ice cream and pizza after midnight is being imposed to protect the “peace and health of residents.” Here in the UK late night […]