At EUR/USD 1.0760 the USD remains firm but doubtless in Japan lights are blinking faster on the risk dashboard of the Bank of Japan as USD is close to the psychological pain level of 150. USD/JPY 149.20.
In 2023 imports of goods from China into the USA fell 20% to $427 billion. That means that Mexico became the largest source of US imports at $476 billion. This shift by the US is down to tariffs put in place by President Trump and in 2023 a weaker USD.
Global demand for silver is forecast to reach $1.2 billion ounces in 2024. Forecasters are eying the current price of $22.30 and predicting it will reach as high as $30 in H2 2024. An increase of 30%+. Traditionally Silver follows Gold although with a lag. Hence the forecast to a level last seen in 2013. USD/AUD 1.5395.
Some contradictions from the Opposition Party of Wales which has stated its policy of seeking a Welsh Pound despite the overwhelming desire from the Welsh people to remain in the Union. Despite not having either a Central Bank nor a Treasury which are both pre-requisites for monetary policy management, the Welsh Pound is on the Opposition’s agenda. There was of course a Welsh Pound in the 16th century that was replaced with the English Pound in 1707 and later exchanged for Pound Sterling in 1801. GBP/USD (and WP!) 1.2605.
Just as the less neat message is taking root a Harvard nutritionist is advocating meat as being the best food group. Normal caution about quality and quantity and not too much red meat as well as not overcooking it, but the message is clear: meat is back. That plus a glass of good red wine sounds to be the right recipe for the weekend ahead. GBP/EUR 1.1710.
I Want to Hold Your Hand
The Beatles-well, John, Paul and George played the Cavern Club in Liverpool, UK this day in 1961 for the first time. The entry fee was GBP5 for a lunchtime concert which seems notable for two things: being expensive and the timing being designed not to let the crowd get into too much trouble: lunchtime! It was obviously popular as they went on to play a further 291 more shows;
Oh, yeah, I’ll tell you somethin’ I think you’ll understand When I say that somethin’ I want to hold your hand
I want to hold your hand I want to hold your hand
Oh, please, say to me You’ll let me be your man And please, say to me You’ll let me hold your hand
You’ll let me hold your hand I want to hold your hand And when I touch you I feel happy inside
It’s such a feelin’ that my love I can’t hide, I can’t hide I can’t hide
Yeah, you got that somethin’ I think you’ll understand When I say that somethin’ I want to hold your hand
I want to hold your hand I want to hold your hand…
Have a Great Weekend!
Discussion and Analysis by Humphrey Percy, Chairman and Founder
British Pound There really was something for everyone in Bank of England Governor Bailey’s comments yesterday. Firstly he said that the BoE was comfortable with the market’s view of the decline in UK interest rates -meaning one presumes both on extent and timing. Then he followed it up by saying that the UK labour market […]
EU Commission Instead of November’s EU growth forecast of 1.2%, the EU Commission has revised back its prediction to 0.8% for the growth in the gross domestic product of the 20 countries. The 2025 year however will see growth of 1.5%. Back to 2024, it is difficult for the EU bloc to grow much when […]
Germany With the German IFO or Business Climate Index down from 90.10 a year ago to its current level of 85.20, Germany’s business leaders are more realistic about the outlook for Europe’s largest economy than their political leaders. Chancellor Scholz wisely passed the speech making duties yesterday to one of his cohorts who managed with […]