SGM-FX insights

Tunnel vision   The coronavirus epicentre has migrated from Wuhan, Hubei province, through China, before migrating to Europe with Italy and Spain the best observable example of the exponential growth phase. The next epicentre of the coronavirus will be the United States having now recorded more confirmed cases than China. A fall in the number […]

End of the Week Round Up   It is positive if not fully refreshing to be able to comment that at $22.88 WTI Oil has steadied, stock markets put in a second decent session yesterday after an early wobble in Europe, gold is at $1628 and GBP has clawed its way back to its best […]

There goes the kitchen sink   Markets have been talking about the ‘double punch’ that unsettled the benign and plain financial paradigm that we existed in for many years. The full-on right hook came from the Coronavirus that manifested as a simultaneous shock to supply and demand. The left hook came like some kind of bizarre […]

Situation summary   Oil at the lowest level since 2001, stock markets off 30%, gold lower at $1476 than it was on January 1, interest rates cut in 50 countries to help, the US Dollar has appreciated by 10%. The secondary effects are as follows: travel restrictions in place in 100 countries, airlines have been […]

GBP   Having fallen to USD 1.14 last night, GBP has bounced off that level and against all currencies including EUR it is stronger this morning. It has been a very long week and it is not over yet(!). Just to remind you, GBP started the week on Sunday night in the Far East at […]

Laura Ashley   Sales having fallen by the relatively small margin of 10% is enough to have pushed the company into appointing Administrators. Sloane Rangers from yesteryear scarcely able to believe it are pinching themselves at this news given the vice like grip those designs had on Middle England for so many years. The virus […]

Exactly One Month to the end of the Tax Year   Those seeking to plan their personal and corporate affairs as they traditionally do each March are faced with more challenges than usual. Here in the UK, there is new government with a sufficiently large majority to push through more controversial positive and negative measures […]

Loose footing   Equity markets have been a good barometer of the risk associated with the Coronavirus. Thanks to numerous developed markets and indices being ‘late-cycle’ they are proving to be particularly sensitive to exogenous risk; more valuable in my opinion than many purpose-built indices. In the UK yesterday, the FTSE100 kicked off to a […]

Markets: Enough already?   Last week the FTSE fell 823 points or 11.1% in line with other global stock markets which collectively saw $6 Trillion wiped off stocks. Oil is now just $50.60. Here in the UK c8000 people have been tested for Coronavirus and all but about 35 have tested negative. Globally the mortality […]

UK House Sellers   For those readers who remember the 1980’s, you will recall that the most loathed symbol of Young Urban Professionals or Yuppies was the estate agent who zipped around in a flash (red) company motor with a mobile phone the size of a brick clamped to his ear. With the advent of […]

Shrove Tuesday yesterday which means today is Ash Wednesday and the start of Lent   For the next 40 days until Easter Sunday, many will be observing some form of abstinence regime out of either religious or another conviction. Some SGM-FX team members are vying with each other to give up something: Charles(smoking) Euan(alcohol) and […]

The Furious One   Hats off to Tyson Fury for his epic victory on Saturday night. Quite a record this 206cm 115 kilo fighter has: 31 fights, 30 wins, 21 KOs. Sgm-FX’s (almost as) tall body builder and keep fit enthusiast Euan was up into the small hours cheering him on!     Blue Is […]