Daily Brief – EU Household Income

EU Household Income

As envious eyes are cast from some in the UK towards the EU, it is worth noting that the EU average household income has increased by 7% between 2019 and 2024 i.e. since the pandemic. In case you are wondering, the UK has increased its household income by 9% over the same period. Of the larger EU economies, only France has come close to the average with 6% while Germany has only managed 4% and the 3 Nordic economies, each moving up by less than 2%. While only one measure of course, household income is a useful barometer of how economies are performing and what their populations’ cost of living are.

EUR/USD 1.1815.

US Dollar

A timely warning from Bank of America on the fallout from what they describe as a disorderly Dollar decline which while that has not happened yet, the recent Dollar volatility accompanied by still greater moves in precious metals is a wakeup call. A disorderly decline is defined as being a downward move of 5% or more in a single month. Should that happen, then sell offs in US Treasuries and much wider market fallout will be such that the notoriously unruffled Treasury Secretary Scott Bessent will need to pay closer attention than his insouciance currently reflects. Barclays has also picked up on these larger br market moves citing a quantifiable risk premium attached to the USD primarily because of the recent actions of the USA.

GBP/USD 1.3611.

Green Iguanas

Native to South America Green Iguanas have been imported and are a big feature in Florida USA notably in Miami, Fort Lauderdale, and Palm Beach due to pet imports and through cargo ports. Temperatures in Florida have fallen to unusual lows in the past week with snow being experienced for example in Tampa. One of the effects of these temperatures is that between 4c and 7c Iguanas enter a catatonic state and lose their grip on trees, roofs, or ledges where they like to live and fall to the ground or on unsuspecting people. At up to 2 meters long and weighing 9 KG this is both a shock and a risk. Centres have been established where the luckless lizards can be “euthanized”- so far more than 5000 have been dispatched.

EUR/GBP 0.8671.

Amsterdam

As from May 1 advertisements for fossil fuels and meat will be banned in Amsterdam, the first city anywhere in the world to do so. That means that air travel, cruises, and petrol-powered cars as well as hamburgers and steak restaurants will disappear. In case you are worrying how you will find McDonalds on your next visit, there are no less than 6 outlets in Central Amsterdam with one of the largest located in Muntplein.

EUR/JPY 185.74.

Like a Virgin

Back in 1985 on this day Madonna began a 3 week sojourn at the top of the Billboard 200 Album Chart with a cracker of an album including this number which managed to simultaneously wow and offend respectively her fans and the Catholic church. Commercially, it was to become one of the best selling albums of all time.

I made it through the wilderness
Somehow I made it through
Didn’t know how lost I was
Until I found you

I was beat, incomplete
I’ve been had, I was sad and blue
But you made me feel
Yeah, you made me feel
Shiny and new

Oh, like a virgin
Touched for the very first time
Like a virgin
When your heart beats next to mine

Gonna give you all my love, boy
My fear is fading fast
Been saving it all for you
‘Cause only love can last

You’re so fine, and you’re mine
Make me strong, yeah, you make me bold
Oh, your love thawed out
Yeah, your love thawed out
What was scared and cold

Like a virgin, hey
Touched for the very first time
Like a virgin
With your heartbeat next to mine

Whoa

Discussion and Analysis by Humphrey Percy, Chairman and Founder

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