EUR
Taking stock of the most traded currency pair EUR/USD on this the last trading year of 2022 currently standing at 1.0655 with not one but four of the top market commentators predicting that EUR will fall below par to the USD in the next 6 months. For battle wearied currency traders after such a year as 2022, a fall of 7% may not sound much but the view that is gathering pace is that inflation in the Eurozone has peaked, and that the slow to react European Central Bank is still raising rates which will crush the Eurozone economies and cause stress particularly to Italy, one of the largest and most indebted members. The consensus view among those commentators is that a fall of 10% is on the cards taking the EUR to an all-time low against the USD to 0.95.
Cheesey
Hackney Wick, East London may sound to be an unlikely front line for the revolution that promises to take the cheese market by storm, but Better Dairy is creating cheese without any involvement of cows there in Hackney Wick-in a laboratory. Before you dismiss this as yet another vegan cheese story that produces something that will not melt, stretch or brown nor tastes of cheese (kind of fundamental), this time according to Better Dairy it is different as they have a process that can recreate the protein in milk that makes cheese which uses yeast to brew casein which is what makes cheese er…. cheesey. The cost when the test tube Gouda and Cheddar hits the supermarket shelves in 2025 will be similar to what one pays for premium cheese so no saving cost wise but according to Better Dairy, consumers will be helping save the planet by eliminating the need for cows.
Flying Turkeys (off the shelves)?
All those gloomy prognoses of avian flu, turkey shortages, rocketing prices etc etc: nimble shoppers who visited a Marks and Spencers store in NW London earlier this week would have found a 2 KG turkey crown reduced from GBP 51.75 to just GBP 4.97. A great way to combat cost of living challenges -make room in the freezer.
By the Rivers of Babylon
Boney M’s Bobby Farrel deserves a mention having departed this world as a result of natural causes this day in 2010 at the less than natural young age of 61. Here is one of his many great songs which remains a standard for parties, weddings and bar mitzvahs the world over to this day:
By the rivers of Babylon, there we sat down
Yeah, we wept, when we remembered Zion
By the rivers of Babylon, there we sat down
Yeah, we wept, when we remembered Zion
There the wicked
Carried us away in captivity
Required from us a song
Now how shall we sing the Lord’s song in a strange land?
There the wicked
Carried us away in captivity
Requiring of us a song
Now how shall we sing the Lord’s song in a strange land?
Yeah, yeah, yeah, yeah, yeah Let the words of our mouth and the meditation of our heart
Be acceptable in thy sight here tonight
Let the words of our mouth and the meditation of our hearts
Be acceptable in thy sight here tonight
Have a Great (long) weekend AND a very Happy New Year!
Discussion and Analysis by Humphrey Percy, Chairman and Founder
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