Daily Brief – Commodities

Humphrey Percy
Chairman and Founder
Mon 14 Oct 2024

Commodities 

With Gold at USD 2676 and Brent Crude at USD 79.04 there are no clearer indicators that world markets are fully focused on the regional crisis encompassing Iran/USA/Israel/Gaza/Lebanon/Yemen this weekend. Unsurprisingly USD is back to its strongest levels for some weeks against all other major currencies.

EUR/USD 1.0935

A3

For UK readers this has nothing to do with the busy main road that links London to Portsmouth by way of Surrey and Sussex, but rather to do with the A3 comet which can be seen by the naked Earthling eye once every 80,000 years. Visible now until the end of this month you might have caught it on Saturday night when it was at its very closest to planet Earth. In case you were wondering who might have seen it 80,000 years ago, that would have been Homo Sapiens who was at that time busy discovering Asia so might just have had other distractions to deal with.

EUR/JPY 163.10



iOS 18

For Apple users: no need to upgrade your hardware, instead stand by for an upgrade to existing devices by way of a new software release that will put all of us on the map with Artificial Intelligence. Features will include improved Siri features that will give us writing tools to rewrite or summarise text; it will also give us a menu of suggested replies to mails if writing is too much of a chore. In the photo section there will be a feature to remove objects or even people from photos which sounds endless fun.

GBP/USD 1.3065



COP29

World leaders and their very considerable entourages and hangers on are preparing to meet in Baku, Azerbaijan between November 11 and 22 for COP29 which has already earned itself the sobriquet the Finance COP due to the target being to agree a sum of between USD500 billion and USD1 trillion per year to deploy and in particular to help developing nations adopt climate friendly measures. There is like all such good initiatives an acronym which has already been selected and also abbreviated: NCQG. The New Collective Quantified Climate Finance Goal. On the horizon already is COP30 in Brazil in 2025 and doubtless scribes are already crafting an acronym for Belem25.

GBP/EUR 1.1950



Girls Just Want to Have Fun

This day back in 1983, Cyndi Lauper unleashed her debut album She’s So Unusual on an unsuspecting world. Apart from being a great commercial success, the album included no less than 5 charting singles which ensured immediate success for the American singer songwriter, actress and activist.

What’s the matter with you?
Girls just wanna have fun now
Come on

Hey now, hey now
What’s the matter with you?
Girls just wanna have fun now (yeah, yeah, yeah, yeah)

I come home in the morning light
My mother says, “When you gonna live your life right”
Oh mommy dear, we’re not the fortunate ones
And girls, they wanna have fun
Oh, girls they wanna have

Hey now, hey now
What’s the matter with you
Girls just wanna have fun now
Come on

The phone rings in the middle of the night
My father yells, “Whatchu gonna do with your life?”
Oh daddy dear, you know you’re still number one
But girls they wanna have fun,
Oh, girls they wanna have

That’s all they really want, some fun.

Discussion and Analysis by Humphrey Percy, Chairman and Founder

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