Morning Brief – The World’s largest fresh produce market: Rungis Market
SGM-FX Fri 15 May 2020
The World’s largest fresh produce market: Rungis Market
234 hectares, EUR 9 billion turnover, 1200 companies. Where is it? The answer is just 7kms from the centre of Paris, France. Whether it is meat, dairy, fruit and vegetables, flowers, seafood, horticulture or logistics it’s all here under one roof. But….with restaurants and airlines among the many sectors that are not buying, Rungis has swiftly moved to a new model and is now open for the first time to consumers rather than just to the wholesale market.
GBP has been one of the poorest performers of the major currencies in the past month and currently is battling the following: Chartists who are looking at their charts and seeing a double top; money markets that are looking at the real possibility of negative U.K. interest rates; a harder looking Brexit and lastly a strong US Dollar. All in all this points to the increasing likelihood of GBP trading between USD 1.15 and 1.20 in the near future. Fine for UK companies repatriating US earnings but less so for importers of US goods. Consolation at least for all those holiday makers who were contemplating a US holiday this summer but now have no choice in the matter.
Brian Peter George St John le Baptiste de la Salle Eno: Happy Birthday (72)
Or simply Eno as he is known in the world of music. Having cut his teeth in 1971 with Roxy Music where he wowed us all with exciting stuff from his synthesizer, he then fell out with ubercool frontman Bryan Ferry before moving on to record with David Bowie, Robert Fripp John Cale, Phil Collins, Talking Heads, Coldplay and many many others. On the way he coined the term “ambient music” with albums including Airport Music in 1978. Despite selling out in the words of 1970’s rock purists, Eno is laughing all the way with a net worth of USD 60M. Here’s a blast from the past from Roxy Music and their 1972 song, Virginia Plain:
Make me a deal and make it straight
All signed and sealed, I’ll take it
To Robert E. Lee I’ll show it
I hope and pray he don’t blow it ’cause
We’ve been around a long time just try try try tryin’ to
Make the big time…….
Discussion and Analysis by Humphrey Percy, Chairman and Founder
Click Here to Subscribe to the SGM-FX Newsletter
Related Insights
Daily Brief – Oil Price
Humphrey Percy
Fri 2 May 2025
Oil Price Pre TT or Trump Tariffs, the oil price seesawed around but mostly reverted to its mean over a few trading sessions unless a major piece of economic, political or trade news arose. All that has gone out of the window with steady declines in session after session, so in case you have been […]
Daily Brief – POTUS in Kingdom of Saudi Arabia
Humphrey Percy
Wed 14 May 2025
POTUS in Kingdom of Saudi Arabia As one of POTUS’ travelling companions on this week’s visit, Larry Fink of Blackrock represents everything that a US President might want to burnish his credentials in the desert kingdom: head of the largest asset manager on the planet, hugely influential and totally credible. Just a shame that he […]
Daily Brief – Beyond USD
Humphrey Percy
Mon 12 May 2025
Beyond USD A comment caught our eye over the weekend: assuming that US markets will recover is not a strategy, it is now for the first time in decades a gamble. With the Vix volatility index of the S&P500 still high, US Treasuries having failed the test recently when they failed to rally at market […]
