SGM-FX insights

Markets   The significance of a 4%+ fall in WTI oil last week is not to be underestimated given the reduction in production by Saudi Arabia. Oil markets have taken fright at the increasing concern of a global recession prompted by a US Sino trade war. Last night Andrea Nahles leader of the SDP, Angela […]

China: The Dead Spread   When I worked on the floor of the Chicago Futures Market, traders watched and traded the price differential between spot prices of pork meat and the futures price of live hogs. It was less than charmingly named the Dead Spread. Pork as we all know is a fundamental of the […]

UK Passports and US versus Europe   This may have passed you by but in case it has not: the UK is a member of the 6 month club which allows nationals of countries such as the UK to visit the USA with only the unexpired time necessary for the trip. Now for Europe: in […]

One May too many:   Surviving a third May proved to be too much for the British Prime Minister who, on Friday, announced her resignation in front of 10 Downing Street. Following a meeting with the chairman of the 1922 committee, she was left with no choice but to announce her defeat to the nation. Chosen […]

I.M.Pei   News of the death of I.M.Pei the inspirational architect at the age of 102 late last night. At this time of US Sino stresses it is worth looking at the simply staggering array of work produced by Pei the son of a bank manager born in Canton(Guangzhou) China and who arrived in the […]

Markets   With the news that the UK will hold EU Elections on 23-5-19, while discounted, GBP nevertheless sold off to close last night on the lows of the day. No news on a deal between the Government and the Opposition-yet. ZAR volatile in advance of the South African election today. Oil sharply lower at […]

  Markets   Big news this week has been the fallback in oil prices to WTI at $61. All eyes in the US and globally on the tea leaves following the Fed’s remarks this week and of course the forthcoming employment data. Bank of England upbeat about UK employment and Governor Carney said yesterday that […]

May Might Miss March M(deadline):     Sat in the pursuit of a synonym for ‘deadline’ that begins with the letter ‘M’ all for the sake of alliteration, it’s easy to let the tumultuous world of Brexit pass you by. Foreign exchange markets seem just as carefree unable to displace the Pound more than 0.01% […]

THE NOES HAVE IT; THE NOES HAVE IT!     In a dramatic series of events this evening, Theresa May’s conservative government has lost the first pivotal Westminsterial vote on her Brexit deal. Suffering a vote of no confidence as a result of her landslide loss in her government, Theresa May’s government is limping but […]

Sorry, come again?   Trouble throughout the Eurozone, the United States and the UK makes for interesting trading within the world’s most popularly traded currency pairs. Marked by a spike in the VIX, a volatility index traded on the Chicago Board of Options Exchange, which currently carries a 19 handle, price movements across the board […]

Last Thursday, the European Central Bank undertook and presented what is, and what will be, arguably their most important monetary policy decision of this year. In keeping with the dominant theme from the Governor who hasn’t raised rates since he took office in 2014, the monetary policy decision was vague, dovish and resulted in an […]

European Economic Community   Talks on the formation of a populist coalition government in Italy have dominated headlines for the past week. Following a closely watched and ultimately as yet inconclusive election in Italy that took place over two months ago, a potential coalition between the ‘Five Star’ and ‘League’ populist parties appears to be […]