SGM-FX insights

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

Morning Brief – Gold

Morning Brief – Gold

Humphrey Percy Wed 22 May 2024

Gold The gold bulls are having a high old time with the metal at almost its all time high of Monday. There are three main reasons for this: first is the amount of gold bought by the world’s Central Banks in past months, second is the huge demand from China as holders of Yuan fearful […]

Morning Brief – Asian Currency Wars

Morning Brief – Asian Currency Wars

Humphrey Percy Mon 20 May 2024

Asian Currency Wars A thoughtful article in the South China Post on Saturday evening raised the spectre for what many fear but few choose to put into words: China opting for a significant devaluation of the Yuan to make it more competitive and that in turn triggering devaluations in the other Asian economies.  The reason […]

Morning Brief – Japanese  Yen

Morning Brief – Japanese Yen

Humphrey Percy Fri 17 May 2024

Japanese Yen As soon as a rash of market analysts concluded yesterday that the Yen was a basket case and that the Bank of Japan were wasting their money intervening to prop up the Yen, the Japanese Yen strengthened markedly on the back of US data admittedly rather than positive Japan data, but it certainly […]

Morning Brief – UK Pay

Morning Brief – UK Pay

Humphrey Percy Wed 15 May 2024

UK Pay With unemployment at its highest since last year with the Q1 rate at 4.3%, it would look safe to assume that the Bank of England would be encouraged to cut UK interest rates sooner rather than later; however with wage growth at 6% providing the counter argument to sooner, the first cut may […]

Morning Brief – IAG

Morning Brief – IAG

Humphrey Percy Mon 13 May 2024

IAG The owner of British Airways reported higher than expected profits at €68m for Q1 up from €9m in the same period in 2023. Lower fuel costs, higher ticket sales and more efficient delivery were cited as the reasons. Long suffering loyal customers of BA know that higher prices, a reduction in routes and numbers […]

Morning Brief – Bank of England

Morning Brief – Bank of England

Humphrey Percy Fri 10 May 2024

Bank of England Yesterday the BoE was closely watched for two forecasts and also for confirmation that interest rates would be left unchanged as was expected by the markets. In the event, interest rates were indeed left at 5.25% and the forecast for inflation is that it is set to fall from its current 3.2% […]

Morning Brief – Germany and the EU

Morning Brief – Germany and the EU

Humphrey Percy Wed 1 May 2024

Germany and the EU The Germany Supply Chain Act came into force in 2023 as a result of Germans wanting to do something good for employees in other countries in particular with respect to human rights and environmental issues. So far so good. But a combination of cost and bureaucracy overlaid with the difficulty of […]

Morning Brief – US Dollar

Morning Brief – US Dollar

Humphrey Percy Mon 29 Apr 2024

US Dollar With the US Election just over 6 months away it is time to think about the implications for USD with a new President. In case you have missed it Trump plans In the event he wins to devalue USD to boost US exports as part of his MAGA philosophy. As we know ex […]

Morning Brief – Japanese Yen

Morning Brief – Japanese Yen

Humphrey Percy Fri 26 Apr 2024

Japanese Yen With JPY at a new 34 year low versus EUR, the market is set for an ambush by the Bank of Japan if it acts today at the end of their Policy Meeting to support the Yen. The reason that the market is susceptible is because it has convinced itself that the BoJ […]

Morning Brief – Milan, Italy

Morning Brief – Milan, Italy

Humphrey Percy Wed 24 Apr 2024

Milan, Italy The City of Milan has a late night noise problem and so it has acted unilaterally to resolve it-Italian style. A ban on the sale of take away food including ice cream and pizza after midnight is being imposed to protect the “peace and health of residents.” Here in the UK late night […]

Morning Brief – British Pound

Morning Brief – British Pound

Humphrey Percy Mon 22 Apr 2024

British Pound Reports that the UK may cut its interest rates before the USA cut their interest rates were the final straw this past week for Sterling. A slew of less than helpful inflation, employment and finally retail sales saw GBP weaker , but then the suggestion that with the background of that less than […]

Morning Brief – US Dollar

Morning Brief – US Dollar

Humphrey Percy Wed 17 Apr 2024

US Dollar Surging on a strong US economy together with further geopolitical tensions in the past week, USD is at its strongest versus EUR this year and came within a whisker of breaking through 1.06 in yesterday’s trading. Against the Japanese Yen USD was 154.55 which caused Japanese Finance Minister Shunichi Suzuki to break cover […]

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