US Dollar and Markets
USD generally weak in thin markets and the EUR strong at EUR/USD 1.1040 and EUR/JPY 157.40.
Gold at $2066.
Brent Oil $81.10 as the markets watch the Red Sea and the Houthis with trepidation. One oil fact for 2023: Russia sold half of its entire oil production to China. Another reason why the Panama Canal choking off US energy supplies to China from the Gulf of Mexico has had a muted effect but a positive for Western Europe which is a beneficiary of that diverted energy.
British Pound
Firm at USD1.2730 and EUR 1.1525 on the back of the well founded perception that the Bank of England will be slower than the Federal Reserve to cut rates in 2024.
Madrid
Who would have thought that the Spanish capital has quietly been capturing a large slice of the European aviation market: in 2023 Madrid Barajas Airport saw 61.3 million passengers pass through. Now Spain is investing EUR 800 million to expand the airport with a target footfall of 81 million.
Some Day We’ll Be Together
This was the last song from the Supremes when Diana Ross sang with them; it was also the last Number One single in the USA from the 1960’s as it was released this day in 1969. Yeah.
I say it, say it, say it, say it again
(Someday, we’ll be together)
Oh, yeah, oh, yeah
You’re far away from me my love
And just as sure my, my baby
As there are stars above
I wanna say, wanna say, wanna say
Yes we will, yes we will
(Say, someday, we’ll be together) Some sweet day
I know, I know, I know, I know
My love is yours, baby
Oh, right from the start
You, you, you possess my soul now, honey
And I know, I know you own my heart
And I wanna say
Some sweet day
Oh, yes we will, yes we will
(Someday, we’ll be together) Tell everybody
Yes we will, yes we will
Long time ago, my, my sweet thing
I made a big mistake, honey
I, I, I say, I said, goodbye
Oh, oh, baby, ever, ever, ever
Ever, ever and ever since that day
All I wanna do, all I wanna do was cry, cry, oh
Discussion and Analysis by Humphrey Percy, Chairman and Founder
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