Eurozone Inflation
Unchanged at 5.3% Eurozone inflation having been expected to dip towards 5.1% in August disappointed. This was mainly due to higher than expected energy prices. Despite this evidence of stubborn Eurozone inflation, the majority market expectation remains for a hike in October or November but not in September.
GBP/EUR 1.1675.
US Interest Rates
A similar picture in the USA where expectations for a rate rise in September are only 10%. Inflation in the year to July stood at 3.3% up from 3.0% in the year to June. Consumer spending grew 0.7% and on an annualised basis, the US economy grew at 2.1%. So the (current) view is that those 525 basis points of interest rate rises have tempered inflation and the economy does not need another rise in September. Let’s see if the Chairman of the Federal Reserve shares the more dovish tendencies of some of his Board colleagues.
EUR/USD 1.0850.
Global Cities
Such are the size of the largest cities in the world in 2023 that while instinctively we all know the largest conurbations, it is instructive nevertheless to remind ourselves of the very largest metropolitan areas in the world by population in millions:
1. Tokyo 37. 2. Jakarta 34. 3. Delhi 32. 4. Shanghai 29. 5. Seoul 26. All of these new world Eastern cities dwarfing Western Europe with these huge numbers of people.
Wild Boar Paradox
As we near the end of the silly season for stories, following the breathless coverage of the largest in living memory co-ordinated search for the Loch Ness Monster last weekend, the story yesterday was about radioactive wild boars roaming Central Europe. Was it due to the Chernobyl nuclear power station explosion, was it weapons testing during the 1950s/60s at the time of the Cold War, or was it due to those wild boar eating deer droppings which are radioactive due to them grazing in contaminated weapons testing areas? No discernible clear answers but at least the phenomenon of wild boars remaining radioactive has been given a name: wild boar paradox.
What’s Love Got To Do With It?
This day in 1984, it had been 24 years since Tina Turner had had a hit with her ex husband Ike. Having been through some very tough times, TT stormed back with this hit which went straight to Number One in the USA and pretty much everywhere.
You must understand, though the touch of your hand makes my pulse react
That it’s only the thrill of boy meeting girl, opposites attract
It’s physical
Only logical
You must try to ignore that it means more than that
Oh-oh-oh, what’s love got to do, got to do with it?
What’s love, but a second-hand emotion?
What’s love got to do, got to do with it?
Who needs a heart when a heart can be broken?
It may seem to you that I’m acting confused when you’re close to me
If I tend to look dazed, I read it some place, I got cause to be
There’s a name for it
There’s a phrase that fits
But whatever the reason, you do it for me
Oh-oh-oh, what’s love got to do, got to do with it?
What’s love, but a second-hand emotion?
What’s love got to do, got to do with it?
Who needs a heart when a heart can be broken?
Who?
Discussion and Analysis by Humphrey Percy, Chairman and Founder
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