Morning Brief – EU Elections

EU Elections

With hard right French candidate Marine Le Pen and centre right German Ursula Von der Leyen vying for the position of being seen as the unifying right wing EU parliamentary candidate , it is Italy’s Giorgia Meloni who is being touted as the queen maker and who will determine the composition of a far right EU supergroup as the EU gravitates to the right.

EUR/USD 1.0875.

Aussie Dollar

The AUD is not having the best of times against USD, EUR and GBP but against the Japanese Yen it is a different story with AUD/JPY at a 34 year high ie its best since 1990.

AUD/JPY 104.46

GBP

Sterling is enjoying some of its best levels for some weeks as a result of better inflation, better economic performance and the prospect of the Bank of England cutting rates. What could spoil the party? The answer is what the rest of the world’s or ROW inflation looks like: if figures due out from the world’s largest economies show that inflation remains stubborn, expect GBP to reverse some of its strength swiftly. US, Japan and EU all out on Friday. But at present sunny Sterling skies:

GBP/USD 1.2785.

European weather

Forecasters broke cover yesterday and having duly deliberated, pronounced that July and August in Europe will be a time of more weather records being broken. It all kicks off next week with Germany and the Nordics set for unusually high temperatures.

GBP/EUR 1.1757.

Let’s twist again

It was Chubby Checker of course who won a Grammy for this recording that was laid down this day in 1962 and has become a staple of all good parties and one that provides endless opportunities for Dad dancing.

Come on everybody clap your hands
Ah, you’re looking good
I’m gonna sing my song and you won’t take long
We’re gonna do the twist and it goes like this

Come on let’s twist again like we did last summer
Yeah, let’s twist again like we did last year
Do you remember when things were really hummin’?
Yeah, let’s twist again, twistin’ time is here

Round ‘n around ‘n up ‘n down we go again
Oh baby make me know you love me so and then
Twist again like we did last summer
Come on twist again, like we did last year
(Twist, yow)

Who’s that, flyin’ up there?
Is it a bird? No
Is it a plane? No
Is it the twister? Yeah

Yeah, twist again like we did last summer
Come on let’s twist again, like we did last year
Do you remember when things were really hummin’?
Come on let’s twist again, twistin’ time is here

Round ‘n around ‘n up ‘n down we go again
Oh baby make me know you love me so and then
Come on twist again like we did last summer
Girl, let’s twist again, like we did last year

Discussion and Analysis by Humphrey Percy, Chairman and Founder

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