Have started the week in a positive frame of mind with the Dow recording a record high and its best performance since last September, oil firm with WTI at $64.04 and USD strong and unchanged.
In the Beginning… (Genesis) or Beresheet in Hebrew
The Israeli Beresheet moon mission ran into trouble resulting in a 300 mph “hard landing” on the Mare Serenitatis on the surface of the moon. Mission over this time but Israel has pledged to try again.
Never mind Arnie and “I’ll be back”. This is Aaron and he will be back!
SGM-FX’s Shekel desk are standing by when the Israelis shell out for the next spaceship with USD/ILS presently trading at 3.58….
Londoners in particular but visitors to the South East also will take comfort from the news that there are now 3 cases for the opening of the line as opposed to a news vacuum on the launch of the long awaited service as we wrote last month. Best case is that it opens in a year in Spring 2020; middle case is for Summer 2020 and worst case is Spring 2021. Great to see that there is now some accountability on the timing for this the largest infrastructure project in Europe. 17 minutes from Paddington to Canary Wharf means no more excuses for being late at your SGM-FX desk, Richard!
Discussion and Analysis by Humphrey Percy, Chairman and Founder
Opportunity for a weaker Dollar The passing of month-end allows markets an opportunity to reassess currency valuations. Despite a cooling off within the Dollar as forecasted following the agreement between the White House and Kevin McCarthy, month end flows yesterday showed favourable conditions for a short-term Dollar resurgence. The beginning of June coincided with headlines […]
Turkish Lira While President Erdogan removed the uncertainty overhanging the Turkish market by winning the election in the run off over the weekend, the news served to cement the certainty that nothing much was likely to change with respect to Turkish economic policy or indeed the subservient role of the Central Bank of Turkey to […]
Did EURUSD miss the news? Over the weekend, the President and the Speaker of the House of Representatives reached a much-awaited deal on the US debt ceiling. The impending constraint on debt could have forced the shutdown of government departments and precluded the US government from servicing costs and existing debts, triggering a default. The […]