The news that incumbent ANC President managed not only to arrest the decline in his party’s share of the vote but reverse it to win 57.5% is a small but encouraging step for the ZAR and the nation.
Hard on the heels of the imposition of US tariffs on $200 billion of Chinese goods comes the news that talks are going to resume. Having sifted through the goods affected, it is clear that the main area is that of computer and communications technology. Given the push that China continues to make to become a leading global player in that market, it is no coincidence that they will be returning to the table with sharpened pencils. Meanwhile global equity markets lost 2%+ across the board led by the Shanghai Composite that bore the brunt of the poor trade talk.
If you are worth $50 Billion what do you buy? Answer: the toyshop itself. India’s richest man Mukesh Ambani snapped up the loss making Hamleys flagship store at the end of last week from the Chinese company C Banner Intl. A shrewd move given that his company Reliance already manages 88 Hamleys stores across 29 Indian cities and with GBP at the level it is. Could it be better? Both a toyshop and a FX play!
More than 4 out of 10 species of frogs globally are on the edge of extinction due to rising temperatures which encourage the spread of the disease ranavirus. Before you think this is not a UK problem, it is, and the croaking of frogs in ponds and streams will be reducing and likely becoming a rarity in the next ten years. SGM-FX’s James was spotted in his wellies looking for tadpoles in the wetlands of South London over the weekend-bless!
Discussion and Analysis by Humphrey Percy, Chairman and Founder
US Dollar With the US Election just over 6 months away it is time to think about the implications for USD with a new President. In case you have missed it Trump plans In the event he wins to devalue USD to boost US exports as part of his MAGA philosophy. As we know ex […]
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 […]