It was even more compelling watching than Glastonbury with multiple sound stages and even more multiple sound bites. The SGM-FX elves were hard at it trying to decipher whether Mutti Merkel was simply suffering from stress or something more serious, what that meant for Germany and Europe and whether PM May was woohooing President Putin or whether he was simply biding his time(guess). However the headline act was POTUS- everywhere and on most stages not only in Osaka but in North Korea, throughout the weekend. Key message as suggested by SGM-FX last week was that after downplaying China trade talk hopes, the plan was to declare new progress and fresh impetus. POTUS duly did just that and then said he would pause on the imposition of tariffs on $300 billion of Chinese exports to the USA. Let’s see the next and exact text once the weekend is past and the dust has settled.
On the back of better Trade news, USD, Yen, CHF all weakened-ie the haven currencies- and the CNY and other commodity and emerging market currencies all strengthened in early Asia trading this morning.
Well. While some of us were, it was apparent that Janet barely was-there on Saturday night: no voice, no entertainment and a tribe of baggy Goth like trolls to try and divert attention away from her. Great work if you can get it- a big hit in the 80s and 90s and reputedly worth $175M, JJ is well past her sell by date. Now 52 and married to Qatari businessman, Wissam Al Mana, it is a mystery as to what she was doing at Worthy Farm. It’s not only about individual taste, it’s just not entertainment and THAT was apparent from the sea of bemused motionless fans who despite her increasingly desperate cries of encouragement definitely could not and would not “Come On.” Best cheer of the night? When she(eventually) stopped! Key takeaway: More Stormzy and Janet………..”Shut up!”
Discussion and Analysis by Humphrey Percy, Chairman and Founder
Click Here to Subscribe to the SGM-FX Newsletter
Related Insights
Daily Brief – Clarity
Charles Porter
Thu 20 Nov 2025
Clarity The Bureau of Labor Statistics yesterday ended speculation on the fate of data produced during the recent US government shutdown. As a result of the inability to collect key household data, notably on unemployment, it has announced that there will not be an October jobs report. Moreover, what little data that was collected in […]
Daily Brief – Back in business?
Charles Porter
Tue 18 Nov 2025
Back in business? Tomorrow will mark one week since the President’s signature was provided to end the longest US government shutdown in history. It is not uncommon for the legacy of a shutdown to drag on beyond its formal conclusion date because it can naturally take differing amounts of time for different departments to get […]
Daily Brief – Volatility on offer
Charles Porter
Thu 13 Nov 2025
Volatility on offer As we approach year end, traded ranges have remained relatively narrow despite significant macroeconomic themes developing. Looking ahead beyond year end, we note the options market continues to severely underprice volatility versus historical standards. Within such an environment, broader risk appetite remains constructive. As a result, the carry trade has continued its […]
