Have started the week in a positive frame of mind with the Dow recording a record high and its best performance since last September, oil firm with WTI at $64.04 and USD strong and unchanged.
In the Beginning… (Genesis) or Beresheet in Hebrew
The Israeli Beresheet moon mission ran into trouble resulting in a 300 mph “hard landing” on the Mare Serenitatis on the surface of the moon. Mission over this time but Israel has pledged to try again.
Never mind Arnie and “I’ll be back”. This is Aaron and he will be back!
SGM-FX’s Shekel desk are standing by when the Israelis shell out for the next spaceship with USD/ILS presently trading at 3.58….
Londoners in particular but visitors to the South East also will take comfort from the news that there are now 3 cases for the opening of the line as opposed to a news vacuum on the launch of the long awaited service as we wrote last month. Best case is that it opens in a year in Spring 2020; middle case is for Summer 2020 and worst case is Spring 2021. Great to see that there is now some accountability on the timing for this the largest infrastructure project in Europe. 17 minutes from Paddington to Canary Wharf means no more excuses for being late at your SGM-FX desk, Richard!
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 […]