In London today is of course the late summer bank holiday. In the USA it is both National Eat Outside Day and National Bacon Day and yesterday was National Toasted Marshmallow Day. These are new kinds of celebrations for most non Americans but as non historical or religious based are at least easily understood.
SGM-FX is unable to enjoy a bacon sandwich outside today ( bacon sandwich provider of choice Birleys off Fenchurch Street remains shuttered) but while hungry for the return of Birleys, SGM-FX is ready and open for business with 41 Eastcheap manned and watchful.
EUR remains strong at 1.19 versus USD and USD weaker after the initial reaction to PM Abe’s resignation news versus JPY at 105.30. GBP remains a beneficiary versus USD and EUR enjoying its best levels for two months.
South Africa: Cape Town Table Mountain
Pretty scenes of Table Mountain covered in snow on Saturday although the mountain is shut to visitors due to slippery conditions. SA Consumer Price Inflation at 4.2% warming up as restrictions on the SA economy are lifted and will soon melt that snow except maybe at the very top of Table Mountain for a few more weeks. ZAR strengthened to 16.60 versus USD its best level since June 10.
Discussion and Analysis by Humphrey Percy, Chairman and Founder
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 […]
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 […]
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 […]