The news that incumbent ANC President managed not only to arrest the decline in his party’s share of the vote but reverse it to win 57.5% is a small but encouraging step for the ZAR and the nation.
Hard on the heels of the imposition of US tariffs on $200 billion of Chinese goods comes the news that talks are going to resume. Having sifted through the goods affected, it is clear that the main area is that of computer and communications technology. Given the push that China continues to make to become a leading global player in that market, it is no coincidence that they will be returning to the table with sharpened pencils. Meanwhile global equity markets lost 2%+ across the board led by the Shanghai Composite that bore the brunt of the poor trade talk.
If you are worth $50 Billion what do you buy? Answer: the toyshop itself. India’s richest man Mukesh Ambani snapped up the loss making Hamleys flagship store at the end of last week from the Chinese company C Banner Intl. A shrewd move given that his company Reliance already manages 88 Hamleys stores across 29 Indian cities and with GBP at the level it is. Could it be better? Both a toyshop and a FX play!
More than 4 out of 10 species of frogs globally are on the edge of extinction due to rising temperatures which encourage the spread of the disease ranavirus. Before you think this is not a UK problem, it is, and the croaking of frogs in ponds and streams will be reducing and likely becoming a rarity in the next ten years. SGM-FX’s James was spotted in his wellies looking for tadpoles in the wetlands of South London over the weekend-bless!
Discussion and Analysis by Humphrey Percy, Chairman and Founder
Calling the bluff As expected, the Federal Reserve raised interest rates in the United States yesterday evening by a further 50 basis points. As a result of this policy adjustment, immediate target policy levels now stand at 4.25-4.5%. As also expected, the Fed pushed back fairly hard on the idea that it is ready to […]
Pencil to pen As with any year ahead, 2023 has been fervently speculated over by market participants. Whilst forecasts for the forthcoming year take great priority every year, 2023 has perhaps the most divergent set of forecasts between analysts and institutions on recent record. Across asset classes and between institutions the core themes expected to […]
False Illusions On Friday last week markets had got very exuberant over comments made by the Federal Reserve Chair the day prior. As a result of the interpretation of those comments, the US Dollar had dropped several cents to trade at its recent lows. There was a narrative that was being pieced together and justified […]