UK Consumer Price Index up by 0.6% v expected 0.5%. GBP unmoved by that but inflation watchers monitoring closer for any signs of price moves outstripping forecasts.
U.S.Treasury Secretary Nominee: Janet Yellen
Yesterday’s address by Janet Yellen to the Senate Finance Committee was closely watched by markets yesterday and she did not disappoint, urging further economic stimulus assistance to the economy and stating that interest rate rises can wait until the USA is back in recovery mode. “Act big” was her message to the Senate. On the exchange rate Janet Yellen was clear that markets should determine the value of the USD and not foreign central banks. Emboldened by that, the USD duly weakened to 1.2130 v EUR.
We all know that it takes Earth 365 days to complete an orbit around the Sun. Mars on the other hand takes 687 days but at the far end of the orbit scale for planets is Neptune which takes 165 years! With NASA planning the first Moon landing for decades, later this year (once they sort out the white flash that brought their test to a premature end last weekend) space travel and looking up planets is a welcome diversion from the current orbit of restricted lockdown activity.
Today is the 38th anniversary of the now infamous Ozzy Osbourne act of biting the head of a bat during his Brummie band Black Sabbath’s performance in Des Moines, Iowa USA this day in 1982. Even ignoring 2021 Covid awareness implications of eating bats, SGM-FX’s I.T. guru and committed vegan, Michael looked quite faint when some of his headbanging BS fan colleagues were speculating on the circumstances behind this. It’s now time to reassure him that the bat was thrown on stage by a fan and was already dead. Released in August 1970 is this song which defined both Black Sabbath and Ozzie Osbourne, Paranoid:
Finished with my woman
‘Cause she couldn’t help me with my mind
People think I’m insane
Because I am frowning all the time
All day long I think of things
But nothing seems to satisfy
Think I’ll lose my mind
If I don’t find something to pacify
Can you help me occupy my brain?
Oh yeah
I need someone to show me
The things in life that I can’t find
I can’t see the things that make true happiness
I must be blind
Make a joke and I will sigh
And you…
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 […]