SGM-FX insights

Our Daily Brief provides insights into the news and views driving today’s foreign currency exchange rates.

Morning Brief – Expensive furniture

Morning Brief – Expensive furniture

Charles Porter Thu 8 Dec 2022

Expensive Furniture At the time of writing at least, ANC leader and South African President Cyril Ramaphosa has managed to hang onto power. When the President found himself at the centre of a South African political scandal, there was a lot of concern and risk surrounding the nation and its assets. International attention was cast […]

Morning Brief – 20th Party Congress

Morning Brief – 20th Party Congress

Charles Porter Tue 18 Oct 2022

20th Party Congress   This week, considerable risks will flow into global markets from Asia. The epicentre of these risks will likely come from China as the ruling Communist Party holds its latest conference. China has played its role in global economic and foreign policy events over recent weeks and months. However, it’s role in […]

Morning Brief – Rand

Morning Brief – Rand

Charles Porter Thu 15 Sep 2022

Rand   Volatility has been a feature of markets mid-2022 to date. Once the realisation finally struck that inflation was not transitory after all and the implications of Russia’s invasion of Ukraine became apparent assets that remained stable in value or price were few and far between. In a world characterised by such widespread inflation, […]

Morning Brief – UK

Morning Brief – UK

SGM-FX Wed 7 Sep 2022

UK   Plenty of pundits talking about new PM Liz Truss needing to stamp her authority in the first 100 days which includes the Conservative Party Conference, the UK energy cap review on 1-10-22 and increased clamour on striking workers, inflation and cost of living as the country goes into winter. Those historians among our […]

Morning Brief – South Africa

Morning Brief – South Africa

SGM-FX Fri 2 Sep 2022

South Africa   The Wild Coast in South Africa is in the Eastern Cape and extends 250kms from the border of KwaZulu-Natal in the North to East London in the South. A long and hard fought court battle between environmentalists and Shell has just concluded yesterday with Shell having their oil exploration license to drill […]

Morning Brief – Chile

Morning Brief – Chile

SGM-FX Mon 4 Jul 2022

Chile   Not a frequent inclusion in the SGM-FX Daily Brief, Chile definitely deserves inclusion at this juncture in global macro events. Not just due to Russia but the world is making a dash towards sustainability, clean energy and non fossil fuel dependency. In order to do that non eco friendly activity will soar in […]

Morning Brief – Eurozone Wildfires

Morning Brief – Eurozone Wildfires

SGM-FX Mon 20 Jun 2022

Eurozone Wildfires   The province of Zamora in north west Spain like many other parts of the Iberian peninsula has seen 40c temperatures over the weekend which has caused forest fires to break out and firefighters to be deployed. Elsewhere in the Eurozone, similar temperatures are being experienced in Paris and no doubt the aircon in […]

Morning Brief – Emerging Market Meltdown

Morning Brief – Emerging Market Meltdown

SGM-FX Tue 10 May 2022

Emerging Market Meltdown   War as an economic event creates winners and losers. Theories of politics and economics suggest that there’s more losers than winners (on average by mode and mean) and in most episodes of at least recent history the world suffers economic and general setback as a result of it. Some currencies are […]

Morning Brief – Half a percent

Morning Brief – Half a percent

SGM-FX Thu 5 May 2022

Half a percent   Over the past two decades, the norm for the size and frequency for interest rate adjustments has continued to fade. The tool most obviously available to central banks, the interest paid on deposits held at their institution, is now seen as the heavy touch option and accordingly even when it is […]

Morning Brief – Emerging Markets

Morning Brief – Emerging Markets

SGM-FX Thu 28 Apr 2022

Emerging Markets   Take one glance at intraday currency moves and you’ll see that volatility is up in a noticeable and pervasive way. There are many expressions of risk in the foreign exchange market at present: the persistent and increasing strength of the US Dollar is symptomatic not just of the increasingly hawkish repricing of […]

Morning Brief – Mixed picture

Morning Brief – Mixed picture

SGM-FX Tue 22 Mar 2022

Mixed picture   The Rand has had a dramatic recovery from the depths of its pandemic and risk induced sell-off running into March 2020. It may seem obvious that ZAR crosses no longer reflect the severe discount priced into them during the height of the market turmoil. However, there are many emerging market currencies who, […]

Morning Brief – High Beta could turn High Volatility

Morning Brief – High Beta could turn High Volatility

SGM-FX Tue 25 Jan 2022

High Beta could turn High Volatility   With some US indices approaching correction territory amidst rising monetary and geopolitical uncertainty, it is unsurprising that markets are starting to question the valuation of many high-beta currencies. Taking a look, for example, at AUD and NZD currency crosses will reveal trading ranges that have exceeded four cents […]

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