Despite having one of the largest EU unemployment numbers at 3.3million, Spain is continuing to post the highest growth rate in the EU at 2.5%. Next year Spanish growth is forecast to be 2.2% far ahead of the rest of the other largest countries -France, Germany and Italy in the Eurozone. Ole ole! Olé, Olé, Olé!
Commodities: Gold at $1310, WTI Oil at $59.98,
Currencies: With global interest rates having moved sharply lower following the Fed’s announcement on no rate rises this week, expectations are now for lower interest rates in the next two years than previously envisaged. Currency markets calm this morning despite GBP volatility overnight. EUR flat , USD 0.2% lower and GBP up 0.3%.
Equities: FTSE 7355, Dow 25,962.
I0 year Govt Yields: US 2.52, Germany 0.04, UK 1.06, France 0.40, Italy 2.46, Japan -0.07. All 10yr Govt yields on lows.
Last week Mike Love of the Beach Boys celebrated his 78th birthday and here’s part of California Girls from 1965- honestly you had to be there…but if you were, the chances are that you will not remember!
California girls
We’re unforgettable
Daisy dukes
Bikinis on top
Sun-kissed skin
So hot
We’ll melt your popsicle
Ooh oh ooh
Ooh oh ooh
Discussion and Analysis by Humphrey Percy, Chairman and Founder
Click Here to Subscribe to the SGM-FX Newsletter
Related Insights
Daily Brief – A weaker Dollar: Trump vs. Powell
Charles Porter
Thu 26 Jun 2025
A weaker Dollar: Trump vs. Powell The Dollar continued to lose ground yesterday as the truce between Israel and Iran appeared to continue to hold. There has been a noticeable return to focus upon macro and monetary influences in major currency pairs. Yesterday, Fed Chair Jay Powell provided his semi-annual monetary policy report before the […]
Daily Brief – Next level
Charles Porter
Tue 1 Jul 2025
Next level EURUSD has managed a relatively smooth ascent to its current levels, around 1.18. That is despite significant resistance levels, most notably around 1.17. A large collection of option strike prices gathered around this key level and the price history of the pair shows us its significance. Sustained closes above this level since last […]
Daily Brief – Whiplash
Charles Porter
Tue 24 Jun 2025
Whiplash A highly volatile start to yesterday’s trading session saw a flight to safety in markets. Despite the Dollar having lost much of its appeal as a safe haven lately, there was still an identifiable USD bid prior to and during the European open. We have identified recently how markets have clearly differentiated between general […]
