Oil closed above $41 (WTI) after POTUS clarified remarks about the status of the China trade talks which he announced remained intact. Markets were relieved and equities had a further positive day with FTSE up 5% from its lows last week and the US markets still back to their highs of earlier in the year. EUR is back at its best level since March versus USD and Gold at $1782 remains firm but has halted its rise after the initial rally of a month ago. Bitcoin for those of you with a crypto interest is at $9687 where it is currently finding it hard to break through the psychological $10,000 barrier.
Those with Alitalia vouchers or who are awaiting vouchers will be pondering whether they are likely to be better off on the news that the Italian government is poised to nationalise the airline which is down to its last EUR 232 Million of cash. On balance it must be better as it will make it harder in the future for Italy to shrug, say “Basta “ and walk away. For those of us who are wistfully looking at pictures of the Amalfi Coast, Rome, Venice and the Costa Smeralda from previous years, we are just thrilled at the prospect of being able to travel to Italy once again later in the summer. Meanwhile…
Cornetto anyone?!
Mick Fleetwood has enjoyed what is euphemistically called a full life. Married four times including twice to the same woman, Mick is currently single and worth $20 Million having by his own admission spent tens of millions on partying and recreational drugs. At 1.95 metres the best known native of Redruth, Cornwall has drummed his way through various combinations of Fleetwood Mac in the past 57 years since he embarked on his musical career in 1963. Far and away Fleetwood Mac’s most lucrative album was the 1977 Rumours which sold 40 million copies(and counting) and here’s part of their excellent song, Songbird:
For you, there’ll be no more crying
For you, the sun will be shining
And I feel that when I’m with you
It’s alright, I know it’s right
To you, I’ll give the world
To you, I’ll never be cold
‘Cause I feel that when I’m with you
It’s alright, I know it’s right
And the songbirds are singing
Like they know the score
And I love you, I love you, I love you
Like never before
Discussion and Analysis by Humphrey Percy, Chairman and Founder
Click Here to Subscribe to the SGM-FX Newsletter
Related Insights
Daily Brief – British pound
Humphrey Percy
Fri 13 Jun 2025
British pound Sterling finds itself in the limelight and trading at its recent highs as somewhat improbably a couple of bolder market commentators have suggested the UK will benefit as a result of the disaffection with the USA and the USD at present. Those commentators have obviously not been following the commentary about UK Chancellor […]
Daily Brief – EU Inflation
Humphrey Percy
Wed 4 Jun 2025
EU Inflation Paving the way for a 25bp rate cut tomorrow, EU inflation came in at 1.9% on the back of uncertainty, lack of consumer confidence and people sitting on their cash. So overall good on inflation but a sign of less good things in the EU. As ever, the overall inflation figure had some […]
Daily Brief – UK Employment
Humphrey Percy
Wed 11 Jun 2025
UK Employment Real life consequences of policies that fulfil Chancellor Reeves’ agenda: this time we will not dwell on the plainly evident politics of envy stuff about targeting the higher earners, stuffing the non-doms, and even deciding to double tax those wishing to pay for private education or invest in property through second homes. This […]
