Morning Brief – USD

USD

At EUR/USD 1.0760 the USD remains firm but doubtless in Japan lights are blinking faster on the risk dashboard of the Bank of Japan as USD is close to the psychological pain level of 150.
USD/JPY 149.20.

US Imports

In 2023 imports of goods from China into the USA fell 20% to $427 billion. That means that Mexico became the largest source of US imports at $476 billion. This shift by the US is down to tariffs put in place by President Trump and in 2023 a weaker USD.

Silver

Global demand for silver is forecast to reach $1.2 billion ounces in 2024. Forecasters are eying the current price of $22.30 and predicting it will reach as high as $30 in H2 2024. An increase of 30%+.
Traditionally Silver follows Gold although with a lag. Hence the forecast to a level last seen in 2013.
USD/AUD 1.5395.

Welsh Pound

Some contradictions from the Opposition Party of Wales which has stated its policy of seeking a Welsh Pound despite the overwhelming desire from the Welsh people to remain in the Union. Despite not having either a Central Bank nor a Treasury which are both pre-requisites for monetary policy management, the Welsh Pound is on the Opposition’s agenda. There was of course a Welsh Pound in the 16th century that was replaced with the English Pound in 1707 and later exchanged for Pound Sterling in 1801.
GBP/USD (and WP!) 1.2605.

Meat

Just as the less neat message is taking root a Harvard nutritionist is advocating meat as being the best food group. Normal caution about quality and quantity and not too much red meat as well as not overcooking it, but the message is clear: meat is back. That plus a glass of good red wine sounds to be the right recipe for the weekend ahead.
GBP/EUR 1.1710.

I Want to Hold Your Hand

The Beatles-well, John, Paul and George played the Cavern Club in Liverpool, UK this day in 1961 for the first time. The entry fee was GBP5 for a lunchtime concert which seems notable for two things: being expensive and the timing being designed not to let the crowd get into too much trouble: lunchtime! It was obviously popular as they went on to play a further 291 more shows;

Oh, yeah, I’ll tell you somethin’
I think you’ll understand
When I say that somethin’
I want to hold your hand

I want to hold your hand
I want to hold your hand

Oh, please, say to me
You’ll let me be your man
And please, say to me
You’ll let me hold your hand

You’ll let me hold your hand
I want to hold your hand
And when I touch you
I feel happy inside

It’s such a feelin’ that my love
I can’t hide, I can’t hide
I can’t hide

Yeah, you got that somethin’
I think you’ll understand
When I say that somethin’
I want to hold your hand

I want to hold your hand
I want to hold your hand…

Have a Great Weekend!

Discussion and Analysis by Humphrey Percy, Chairman and Founder

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