Daily Brief – Be Ready

Be Ready

The UK Government’s campaign to ready the UK for emergency preparedness has had some dramatic effects in the last 10 days since the launch: hand sanitiser sales up 83%, bottled water 67%, tinned and jarred goods up 37%. So far it is a case of Be Ready rather than a call for Don’t Panic.

GBP/USD 1.3319.

Indian Demonetisation

10 years ago, Indian PM Modi announced the withdrawal of all 500(GBP4) and 1000(GBP8) Rupee notes in a bid to curtail the Black Economy. At a stroke that removed 87% of the value of notes in circulation. There is no evidence to suggest that the Modi move has been in any way successful with almost all the Black Economy being transacted in assets such as property or is held offshore in tax havens with all the cash element now being transacted in small denomination notes. What has changed is the launch of the UPI or Unified Payments Interface which has seen the huge growth of online payments worth 314.2 trillion Rupees or GBP 2.5 trillion.

GBP/EUR 1.1944.

US Inflation

When US CPI or Consumer Price Inflation came in at 0.4% for October, on the face of it, it was better than the 0.6% September figure, but against expectations of 0.3% it sent the market into a whirl of expectations for more in the way of interest rate rises to combat inflation and allow for continuing high petrol costs. Inevitably that sent the USD sharply higher against everything.

EUR/USD 1.1151.

Tarantula Spiders

Normally associated with South and Central America namely Brazil and Mexico, the tarantula spider is making increasing and unwelcome appearances in Austria with 200+ reported occurrences since September. Austria has a citizen science reporting platform-of course it does- in naturbeobachtung.at and Styria in South Eastern Austria has experienced the most sightings. Tarantulas are very active in Autumn when they typically seek out flats, houses or garages and other sheltered areas to hole up in for the winter months when Austrians hope that they remain dormant rather than gatecrash the après ski scene.

Brent Oil USD 92.05.

It’s Not Unusual

This song released by 24-year-old woolly Welsh wombat singer Tom Jones this day in 1964 was originally meant to be sung by contemporary chanteuse Sandie Shaw. What was unusual even in those days of innocence in the mid 60’s was that after SS heard Tom Jones sing it, she insisted that he should release it because it was so good. Whoa whoa etc…

It’s not unusual to be loved by anyone
It’s not unusual to have fun with anyone
But when I see you hanging about with anyone
It’s not unusual to see me cry, I wanna die
It’s not unusual to go out at any time
But when I see you out and about it’s such a crime
If you should ever wanna be loved by anyone
It’s not unusual, it happens everyday
No matter what you say
You’ll find it happens all the time
Love will never do what you want it to
Why can’t this crazy love be mine?
It’s not unusual to be mad with anyone
It’s not unusual to be sad with anyone
But if I ever find that you’ve changed at any time
It’s not unusual to find that I’m in love with you
Whoa-whoa-oh-oh-oh-oh

Discussion and Analysis by Humphrey Percy, Chairman and Founder

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