Last Christmas Cracker Joke for 2019 (honest) : Why didn’t the lobster share his Christmas treats? Because he was shellfish!
The main feature in the past few days has been the firm oil price of $61.31 for WTI as a result of firstly reduced inventories(that old adage of more demand than supply) and secondly a more upbeat outlook following the agreement of Phase One of the U.S.-China Trade Deal.
In the Currency markets, EUR/USD spiked up a full 2 cents at 1500hrs EST to 1.1270 on 25-12-19 Christmas Day when the world was enjoying a market holiday. This almost certainly was a timed program order that had been incorrectly entered. By 1800hrs EST, the market had reverted to the previous close of 24 December and all was left was a spike in the graph.
In the Equity markets, the FTSE 250 enjoyed a Santa rally closing on a high in fact a record high on Christmas Eve.
Ever wished you had cornered a market after an event and therefore too late? Well this week it is my turn: if only I had filled my suitcase with umbrellas before heading to Beirut where I am writing this. Lebanon is suffering from the ongoing effects of Storm Loulou which include snow, torrential rain, floods and mudslides which are scheduled to last until pretty much the time that the wheels of BA148 leave the ground on our return. Judging by the number of wet pedestrians passing by in the street below, there is a shortage of umbrellas here!
Loulou means a pearl in Lebanese and the reason the storm has been named Loulou is that the expectation is that all the rain down below the mountain range will soon turn to snow or pearls! Not many people know about THAT symbolism!
Today is popstar John Legend’s 40th birthday- born John Stephens he launched his career with a properly high level of ambition by re-naming himself. An alumnus of University of Pennsylvania where he read English, he quickly turned his formal education to his advantage by partnering successively and successfully with Kanye West, Jay-Z and Alicia Keyes. Now worth $45Million, John Legend has added the soubriquet philanthropist to his already impressive list of accomplishments that include songwriter, actor and singer.
Wishing you a great weekend!
Discussion and Analysis by Humphrey Percy, Chairman and Founder
Click Here to Subscribe to the SGM-FX Newsletter
Related Insights
Daily Brief – Reckoning Days
Charles Porter
Tue 14 Jan 2025
Reckoning Days Despite it being less than one week until Donald Trump’s inauguration, markets are still fixated on the evolution of the UK’s bond market and its currency. The Chancellor may well have been hoping for some distracting headlines from the incoming President-elect. Unfortunately for her, those that have come from the Trump administration and […]
Daily Brief – Dollar Correction
Charles Porter
Tue 21 Jan 2025
Dollar Correction The infamous grab, hold, pull repeat handshake of President Trump almost sent several tumbling down during his inauguration at the US Capitol yesterday. Meanwhile, the actions and rhetoric surrounding his inauguration categorically did send the US Dollar lower following weeks of strong appreciation. Volatility had been expected moving into Trump’s inauguration yesterday. Whilst […]
Daily Brief – Markets In Reverse – Inflation to the Rescue
Charles Porter
Thu 16 Jan 2025
Markets In Reverse – Inflation to the Rescue Particularly in the case of the beleaguered GB Pound, it may be time to do away with the textbook. Instead of attracting further demand as UK yields have risen, GBP has registered one of its worst starts to a year on record. It is a narrative of […]
