SGM-FX insights

UK Pensions Claimants living in Europe   There are approximately 400,000 pensioners living in Europe and all of them are wondering what a No Deal Brexit means for them and what it will mean with or without a Deal for GBP. SGM-FX have a growing number of pensioners who fall into this category and to […]

Chinese Takeaway:     With an absence of liquid London markets and a dearth of political news with President Trump in Iraq, it is a chance to turn to the city of Yiwu in north eastern China. Why and what? This is a city of 1.2 million comparable to our own Birmingham (1.1 million) with […]

Maggie May:   Mmm… Well… What an interesting day for global FX markets. The day kicked off with the Court of Justice of the European Union confirming the opinion expressed by the Advocate General that Brexit is indeed reversable. Article 50 can be unilaterally reversed by the United Kingdom should it choose to do so. […]

No No-Deal:   There have been interesting developments within Sterling markets overnight and throughout today’s European session. Yesterday, it was decided that the government was in contempt of Parliament for failing to disclose the outcome of the legal advice it has sought. The provision within parliamentary rules was invoked and voted upon given the argument […]

Ambitious, Broad, Deep and Flexible:   We’ve heard the words before. Now they’re in the right place. Theresa May in the past has levied criticism at the European Union for a lack of ambition within Brexit relations, refusing to think outside of the box of incumbent treatises to facilitate a post-Brexit relationship between the United […]

Picking up pennies: The Pound has recovered from yesterday’s woes. However, a fragile 0.2% appreciation on the day offers Sterling markets little commiseration with EURGBP and GBPUSD both trading slightly below the mid-point of their medium-term range. The Pound received a good bid following a confirmation from The Times that Michael Gove will not resign from May’s Cabinet […]

Rudolph: 2018 has hit rock bottom for the Pound, with the largest intraday losses so far this year. Whether the floor ends up being a stable footing from which to begin to recover will be discovered over the coming days, however, as far as today’s European session is concerned, Sterling has failed to catch a […]

Left; Right; Left; Right; A-Ten-Hut!   Defence was put on the table by the United Kingdom as a bargaining chip for a post-Brexit trading relationship. The UK is one of few nations that meets its NATO spending requirements on defence when measured as a percentage of GDP. Understandably, the UK has a developed defence sector, […]

Porcupine Pound:   It was apparent as of market open this morning that the Pound had managed to secure a stronger footing. Stemming largely from a mild improvement in Brexit sentiment, the Pound soon recovered off of its 1.2701 lows against the US Dollar, even breaking through 1.13 against the Euro on two occasions this […]

Not such a budget Budget!   The Chancellor delivered his budget speech this afternoon to the House of Commons. The event, as expected, received little market fall out as investors largely disregarded the spending promises given the political tumult caused by Brexit. Nevertheless, the news was positive: upgraded growth forecasts from the Office for Budget […]

Sorry, come again?   Finally, things become a little clearer on the progress of the European Council Summit in Brussels. Or do they? One of the most popular reports emanating from the seismic event in the Belgian capital purports that German Chancellor, Angela Merkel, found British Prime Minister Theresa May’s speech so unsure and nervous […]

Summit’s Brewin’:   Following weak CPI inflation data this morning, Sterling faced an almost unrelenting headwind. Losing a value of almost 0.5% in the first 30 minutes of European trading against the Euro, the Pound found little footing from rumours seeping out of Brussels. Weak CPI data came as a surprise to traders and investors […]