SGM-FX insights

Following Christmas, currency markets appear lethargic too. The low liquidity environment of the end of the year has seen most currencies stay within a very tight and unthreatening channel. Today, the biggest major mover of the day was the US Dollar. Today’s market movements seem rather reminiscent of the entire year: a mixed pound sterling, […]

Discussion and Analysis by Charles Porter:   Yesterday afternoon, the US Dollar only continued its unrelenting advance. Since the beginning of De­cember, the Dollar has gained almost 1.5% against its shared currency counterpart, the Euro. The EUR USD cross now threatens 1.17. The most notable event of today will be an interest rate decision by […]

Discussion and Analysis by Charles Porter: After a somewhat subdued morning and afternoon yesterday, markets kicked to life. An abrupt claim from the Telegraph suggested that the UK and the EU had reached an agreement on the so-called Brexit ‘divorce’ bill. The news supported the Pound strongly, raising Sterling against the US Dollar by as […]

Discussion and Analysis by Charles Porter:   The US Dollar looked in a weak position throughout yesterday morning and into the early afternoon. However, the market open within the US saw a retraction from questionable Dollar weakness and move further away from a significant 1.20 against the Euro. Little changed yesterday to reverse the Dollar’s […]

Discussion and Analysis by Charles Porter: The Pound Sterling, the Euro and, just about, the Dollar have all received a boost this morning. Climbing over their international counterparts, the Pound is being supported by optimism ahead of December’s EU Council summit. Following strong Eurozone soft data, released yesterday morning, the Euro has similarly received a […]

Discussion and Analysis by Charles Porter:   Sterling markets have opened weaker this morning following a budget that was overshadowed by pessimistic growth forecasts. Sterling markets reacted ambivalently to the second reading of third quarter Gross Domestic Product (GDP). Measuring economic growth, the statistics release showed no change. Currency markets are showing a mixed message […]

Discussion and Analysis by Charles Porter:   As markets open this morning, it is apparent that the value of the US Dollar was harmed by Janet Yellen’s remarks during a public conversation with Sir Mervyn King, former Bank of England Governor, last night. Speaking at the NYU Stern School of Business, Yellen painted an opaque […]

Discussion and Analysis by Charles Porter: Sterling markets once again look more robust at market open this morning. While the outcome of yesterday’s 10-strong ’inner’ cabinet meeting has not been made public, and is not expected to become so within the next few weeks, reports coming from media and privileged cabinet ministers are positive. Dominating […]

Discussion and Analysis by Charles Porter: Sterling has received a boost at market open this morning primarily on the back of hearsay. The enduring battle over the Brexit divorce bill continues to weigh on the currency, however, it is reported that the establishment and leadership might be willing to up their offer. The US Dollar […]

Discussion and Analysis by Charles Porter:   The Euro has opened stronger yet again today, continuing its upward surge against the US Dollar. The single currency has gained in excess of 2% against the US Dollar within just one week. The correction following the European Central Bank’s Dovish tapering of quantitative easing now exceeds the […]

Discussion and Analysis by Charles Porter:   The return of data today could see an increase in volatility within many major currencies. The reading of Germany’s third quarter GDP has already provided support to the Euro, with UK inflation data also due this morning. The Pound has carried over the weakness that it incurred during […]

Discussion and Analysis by Charles Porter:   The Pound Sterling dominates the story in foreign exchange markets following the weekend. The potential to induce vote of no confidence in May’s leadership was claimed to be in excess of 80%, with 40, out of a necessary 48, MPs said to have signed their name in support […]