Today is a holiday in the London market, but SGM-FX is working a full day and is ready to provide a full service for our clients despite all banks being shut.
We are now seeing fashion sales beginning to pick up again -but online obviously. H&M in Germany and Zara in Spain are both reporting earnings improvements as Europe’s beleaguered locked down followers of fashion bored with everything really, reach for their credit cards. Not such good news for those luxury brands that have no good news and predict falls in revenues of 60% which given their much higher cost of sales, spells plenty of red ink on their bottom lines.
Co-founder Florian Schneider-Esleben departed for the big synthesiser in the sky this week at the too early age of 73. 70’s boppers will recall chucking themselves around of a night to the leading electronic band of the time’s Autobahn, but it is Trans-Europe Express that wins the plaudits for the best Kraftwerk song of all. Here are the lyrics(in full)- you had to be there(honest)
Trans Europa Express
Trans Europa Express
Trans Europa Express
Trans Europa Express
Rendez-vous auf den Champs Elysees
Verlass Paris am Morgen mit dem TEE
In Wien sitzen wir I’m Nachtcafe
Direkt Verbindung TEE
Wir laufen ‘rein in Düsseldorf City
Und treffen Iggy Pop und David Bowie
Trans Europa Express
Here’s wishing you a healthy and happy VE weekend!
Discussion and Analysis by Humphrey Percy, Chairman and Founder
Quarter End For those markets, including the UK, which will be observing Good Friday, today will be the last trading session of both March and Q1 2024. This means that we should expect today to mark the final day of any major FX position adjustment. The end of a month, quarter or year brings with […]
EU Border Controls 26,000 respondents in 18 jurisdictions have spoken and 51% of them are dissatisfied with border controls and the level of immigration into the EU. Now that is a statistic that political parties across the EU should sit up and take notice of in the next two months in the lead up to […]
A 1.08 floor? As we wrote yesterday, a surprise interest rate cut in Switzerland from the Swiss National Bank (SNB) has jolted markets into life. Over the last month, the probability of interest rate cuts at major central banks has been falling consistently. This surprise cut from the SNB last week has awoken investors to […]