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
POTUS in Kingdom of Saudi Arabia As one of POTUS’ travelling companions on this week’s visit, Larry Fink of Blackrock represents everything that a US President might want to burnish his credentials in the desert kingdom: head of the largest asset manager on the planet, hugely influential and totally credible. Just a shame that he […]
Oil Price Pre TT or Trump Tariffs, the oil price seesawed around but mostly reverted to its mean over a few trading sessions unless a major piece of economic, political or trade news arose. All that has gone out of the window with steady declines in session after session, so in case you have been […]
Beyond USD A comment caught our eye over the weekend: assuming that US markets will recover is not a strategy, it is now for the first time in decades a gamble. With the Vix volatility index of the S&P500 still high, US Treasuries having failed the test recently when they failed to rally at market […]