EU Border Controls
26,000 respondents in 18 jurisdictions have spoken and 51% of them are dissatisfied with border controls and the level of immigration into the EU. Now that is a statistic that political parties across the EU should sit up and take notice of in the next two months in the lead up to the EU elections due to take place June 6-9. Worth keeping an eye on the Swiss Franc. GBP/CHF 1.1430.
Japanese Yen
The stark contrast between Japan and the rest of the world is reflected in the exchange rate for JPY which, despite the Bank of Japan raising its interest rates fractionally has weakened. The low for JPY was in 2022 when USD/JPY reached 154.94 briefly. We are not there yet, but we are not far off with USD/JPY 151.46.
White Gold
Nothing to do with jewellery, this is what geologic hydrogen is sometimes known as. This type of hydrogen is thought to be part of the answer to wean the world off fossil fuels. Scant detail about the cost of extraction but a white gold rush is under way with exploration sites in USA, Canada, France, Spain, Australia, Colombia and South Korea. 40 companies are now involved up from 10 just over a year ago.
GBP/ZAR 23.92.
Krispy Kreme
By the end of 2026 US customers of McDonalds will be able to order a KK donut with their McCafe coffee whether it be original glazed, chocolate with sprinkles or chocolate with kreme. Donut devotees in the US should have gone down to their McDonalds yesterday as McDonalds were giving free KKs to celebrate the new partnership. While this alliance may do wonders for McDonalds bottom line, it is unlikely to do the same for its customers in a physical sense.
EUR/USD 1.0850.
Gary’s Back (sort of)
Modern day thievery in Lanarkshire, Scotland saw an 8-foot fibreglass gorilla named Gary stolen from a garden centre just over a year ago. While there have been sightings of similar sized primates strapped to the back of a trailer on the M25 near London, Scottish police found that the trail had long gone cold. That was until yesterday when the back half of a gorilla was found in a hedge on the A92 which runs between Aberdeen and Dundee. To be clear, the gorilla had been cut in half vertically which means that while Gary’s back is shortly to be returned to the garden centre, Gary’s front is still missing. The garden centre has issued a statement saying that it is happy in one way to have Gary back.
GBP/USD 1.2645.
I am…I said
This day in 1971 US singer songwriter Neil Diamond released this classic which ascended the charts over subsequent months but only made it to Number 4 in the USA. Hardly a cause for concern for the NYC born superstar who went on to sell 130 million records during his subsequent career.
L.A.’s fine, the sun shines most the time
And the feeling is “lay back”
Palm trees grow and rents are low
But you know I keep thinkin’ about
Making my way back
Well I’m New York City born and raised
But nowadays
I’m lost between two shores
L.A.’s fine, but it ain’t home
New York’s home
But it ain’t mine no more
“I am”… I said
To no one there
And no one heard at all
Not even the chair
“I am”… I cried
“I am”… said I
And I am lost and I can’t
Even say why
Leavin’ me lonely still
Did you ever read about a frog
Who dreamed of bein’ a king
And then became one
Well except for the names
And a few other changes
If you talk about me
The story is the same one…
Discussion and Analysis by Humphrey Percy, Chairman and Founder
US Dollar All the talk of the USD having had its day may be gaining in credence every day that goes by with the POTUS and his Administration seemingly determined to dismantle the post WW2 global currency order and depreciate the USD, but most people operate in a much shorter timeframe than the time it […]
British pound Sterling finds itself in the limelight and trading at its recent highs as somewhat improbably a couple of bolder market commentators have suggested the UK will benefit as a result of the disaffection with the USA and the USD at present. Those commentators have obviously not been following the commentary about UK Chancellor […]
Oil Supply With Friday’s rocketing up in the oil price of 12% to $78, the question is whether that is it and we have just seen a re-set or whether this is the first staging post in a much larger increase. That, of course, depends on the unfolding Israel-Iran attacks and whether that conflict spreads […]