Big news this week has been the fallback in oil prices to WTI at $61. All eyes in the US and globally on the tea leaves following the Fed’s remarks this week and of course the forthcoming employment data. Bank of England upbeat about UK employment and Governor Carney said yesterday that once Brexit resolved(sic) rates may rise faster than anticipated thereby skirting around the uncomfortable fact that the BoE has been consistent-that is consistent to date in overstating the economic downturn following the EU Referendum 3 years ago.
The Role of Belgium in Europe – hold the front page!
This is, we stress, not a Jeremy Clarkson type diatribe (!) on Belgium’s role other than that of hosting the European parliament, Charles Michel the Belgian PM is setting out his stall as the bridge or le pont between Germany and France plus if that was not enough, positioning Belgian as the EU member that calls for a common European vision to counter populism. On top of that Belgium advocates peer group reviews for each country to evaluate the other EU members for their respect of the rule of law for the rights of their citizens and the health of their democracies. Phew! Does one detect a whiff of management consultants par excellence McKinsey?!
Call in their most famous export, Hercule Poirot tout de suite!
Blame it on Brexit journalism suggests that fewer Brits are going abroad this year. Top foreign holiday destinations remain:
1.Spain
2. Turkey
3. Greece
4. USA
5. Cyprus
Heady excitement from the lady on the counter that the sales of Egyptian Pounds through the Post Office have increased 687% in the past year. From a low base and still a small slice of the tourism pie however…..
Walk like an Egyptian….
Discussion and Analysis by Humphrey Percy, Chairman and Founder
Click Here to Subscribe to the SGM-FX Newsletter
Related Insights
Daily Brief – Weaker US Dollar
Humphrey Percy
Fri 4 Apr 2025
Weaker US Dollar As the dust settles and the tealeaves are sifted, the obvious early take is that POTUS has achieved an initial post tariff announcement reduction in the value of USD which he stated as his aim before he took office. An immediate jump in value of so called safe haven currencies Japanese Yen […]
Daily Brief – US Trade War Tariffs
Humphrey Percy
Wed 2 Apr 2025
US Trade War Tariffs With all markets awaiting what emanates from POTUS later today, Trump has certainly achieved one aim: getting the world’s collective attention. Increasingly desperate TV pundits have spent the past hours dragging past Trade Negotiators into the studio in an effort to get them to predict what the tariffs will look like. […]
Daily Brief – De-Dollarization
Humphrey Percy
Mon 31 Mar 2025
De-Dollarization A shift away from the US Dollar with Central Bank Reserves denominated in US Dollars moving down from a high of just over 70% down to 60% in the past 20 years is note worthy but the speed of that decline makes it less striking. However there are 3 factors that are changing the […]
