Mexican Peso and Markets Round Up
President Andres Manuel Lopez ObradorĀ of Mexico not only believes but the market believes that he will pull off what most thought to be unattainable-namely no tariffs between Mexico and the USA and all by June 10 ie this coming Monday. The Mexico Peso has performed best of the major market currencies on the back of this expectation.Ā Elsewhere oil is steady, equity indices are all green which makes a refreshing change from the sea of red in the past week. Gold firmer at $1328. GBP is steady-I would not dignify it by describing it as stronger-on the lack of any hard news on Day 2 of POTUS in the UK and the start of the inevitable Hokey Cokey that is the Conservative leadership contest. Jeremy Hunt is rumoured to be in discussions for a place in next yearās Strictly but is putting that down to Michael Gove spinning stories.
With not one but two band members celebrating birthdays in the past couple of days, Charlie Watts 78 and Ronnie Wood 72, it is worth remembering just how long the Stones have been big and more to the point earning big. The happenstance that saw Dartford boys Mick and Keith start talking about Muddy Waters when they met in the street in 1962 all those years ago has seen many many hundreds of millions if not multiple billions of GBP, USD, EUR, Yen and indeed just about every other currency revenues from albums, performances and of course merchandise as they have crisscrossed the world.
Unlikely you may think but our earlier rabid bat story provoked postbag from Florida where earlier in the week a 76 year old woman was confronted by a 3.5 metre alligator in her kitchen. Sportingly she described it as having a beautiful face….. well that was before the trapper arrived to capture it when in the ensuing struggle the gator broke a number of her stock of red wine bottles. Then she was less enthusiastic. With the USD strengthening against the EUR on the back of less than positive Europe wide election results, she can at least afford to replace them with some decent French plonk!
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 Fedās 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 […]