Left; Right; Left; Right; A-Ten-Hut!
Defence was put on the table by the United Kingdom as a bargaining chip for a post-Brexit trading relationship. The UK is one of few nations that meets its NATO spending requirements on defence when measured as a percentage of GDP. Understandably, the UK has a developed defence sector, significant even on the global stage. Given the limited defensive capacity of the collective group of EU states, the UK’s punch and permanent seat at the security council will be missed. In order to achieve post-secession trading rights within the bloc, the UK had hoped to leverage its might – quite literally. However, reports out today suggested that the EU and the UK had reached an impasse in their negotiations over post-exit defensive cooperation, undermining hopes for a wider deal. Given the uncertainty around a deal, perhaps as early as November 21st, Sterling lost value throughout the day.
Payrolls Friday in the US understandably attracted attention to the US Dollar. Observing the number of jobs created last month, the data showed an additional 250 thousand new jobs were made; topping median estimates and affording the Dollar greater value. The Dollar had begun the day on the back foot, continuing early November’s trend, however, the optimistic data restored the Dollar close to a neutral position on the day.
Discussion and Analysis by Charles Porter
Click Here to Subscribe to the SGM-FX Newsletter
Related Insights
Daily Brief – Gold and Silver
Humphrey Percy
Wed 4 Feb 2026
Gold and Silver Due to the vertiginous moves in both these precious metals all markets are more than usually fixated on the price action at present. Yesterday, both steadied and clawed back some of the recent losses with Gold rising almost 6% and Silver 10% to USD 4921, and USD 86.70 respectively at the time […]
Daily Brief – US Markets
Humphrey Percy
Mon 23 Feb 2026
US Markets As we settled into the weekend USD was enjoying a fourth day of strengthening, US GDP came in at 1.4% instead of the 3% expected by analysts and US inflation at 2.4% all added up to just a normal Friday in US markets. Then the Supreme Court decision came in deeming POTUS’ tariffs […]
Daily Brief – Canada
Humphrey Percy
Wed 25 Feb 2026
Canada One of the consequences of what Iran recently described as the unpredictability of President Trump is that PM Mark Carney of Canada has this week embarked on a charm offensive to India, Australia, and Japan. Just another visit? On the contrary, Canada has had a fractious relationship with India and a real froideur existed […]
