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
Data Day Despite salient data already having been published in China and France so far this morning, we are far from finished with the deluge of data due to reach the market today. The most important of which will be those that we have signposted in earlier briefings: Eurozone and US inflation figures. Given just […]
Eurozone That was a surprise: yesterday the EU announced that inflation had fallen to 2.4% which was considerably better than the 2.7% that markets had expected. Despite the ECB saying it was far too early to cut rates, the market has pencilled in the first cut for April. Before getting carried away it should be […]
UK Labour market The Bank of England yesterday broke cover to drive the message home that due to the UK’s labour market remaining tight, it was premature to start talking interest rate cuts and it was not just Governor Bailey who was calling for higher for longer interest rates but also his MEPC colleague Jonathan […]