SGM-FX insights

Our Daily Brief provides insights into the news and views driving today’s foreign currency exchange rates.

Morning Brief – Tunnel vision

Morning Brief – Tunnel vision

SGM-FX Tue 31 Mar 2020

Tunnel vision   The coronavirus epicentre has migrated from Wuhan, Hubei province, through China, before migrating to Europe with Italy and Spain the best observable example of the exponential growth phase. The next epicentre of the coronavirus will be the United States having now recorded more confirmed cases than China. A fall in the number […]

Morning Brief – OPEC+

Morning Brief – OPEC+

SGM-FX Mon 30 Mar 2020

OPEC+   The Russians have now said that if other countries agree to join them, Russia will be willing to re-open negotiations with OPEC. In reply-although it was definitively not a reply- the Saudis have said that they have not received any such overtures. It is in the rest of the world’s interests for OPEC+ […]

Morning Brief – End of the Week Round Up

Morning Brief – End of the Week Round Up

SGM-FX Fri 27 Mar 2020

End of the Week Round Up   It is positive if not fully refreshing to be able to comment that at $22.88 WTI Oil has steadied, stock markets put in a second decent session yesterday after an early wobble in Europe, gold is at $1628 and GBP has clawed its way back to its best […]

Morning Brief – Lekke to be lekke

Morning Brief – Lekke to be lekke

SGM-FX Thu 26 Mar 2020

Lekke to be lekke   An Afrikaans ish phrase meaning it’s nice to be nice.. or so I’m told. In the times we find ourselves in, there seems to be value in examining exactly how nice is nice enough. Take the UK government’s call for citizens to volunteer to support the NHS. As Boris Johnson […]

Morning Brief – For UK Business Readers

Morning Brief – For UK Business Readers

SGM-FX Wed 25 Mar 2020

For UK Business Readers   Here is a useful summary of what the UK Government is offering UK businesses:     For those of you who submit self assessment returns, before you ignore the item above, do look at the final box above which does help.   Markets   Too early to heave a sigh of […]

Morning Brief – There goes the kitchen sink

Morning Brief – There goes the kitchen sink

SGM-FX Tue 24 Mar 2020

There goes the kitchen sink   Markets have been talking about the ‘double punch’ that unsettled the benign and plain financial paradigm that we existed in for many years. The full-on right hook came from the Coronavirus that manifested as a simultaneous shock to supply and demand. The left hook came like some kind of bizarre […]

Morning Brief – Situation summary

Morning Brief – Situation summary

SGM-FX Mon 23 Mar 2020

Situation summary   Oil at the lowest level since 2001, stock markets off 30%, gold lower at $1476 than it was on January 1, interest rates cut in 50 countries to help, the US Dollar has appreciated by 10%. The secondary effects are as follows: travel restrictions in place in 100 countries, airlines have been […]

Morning Brief – GBP

Morning Brief – GBP

SGM-FX Fri 20 Mar 2020

GBP   Having fallen to USD 1.14 last night, GBP has bounced off that level and against all currencies including EUR it is stronger this morning. It has been a very long week and it is not over yet(!). Just to remind you, GBP started the week on Sunday night in the Far East at […]

Morning Brief – Down, down, down, down, down

Morning Brief – Down, down, down, down, down

SGM-FX Thu 19 Mar 2020

Down, down, down, down, down   The chorus lyric of Flo Rida’s hit song echo the title of this market briefing. Two confessions: 1) yes I had to google the song to check 2) yes I spelled his name wrong. It might be erroneous to assume that just because the hit song was recorded in […]

Morning Brief – Laura Ashley

Morning Brief – Laura Ashley

SGM-FX Wed 18 Mar 2020

Laura Ashley   Sales having fallen by the relatively small margin of 10% is enough to have pushed the company into appointing Administrators. Sloane Rangers from yesteryear scarcely able to believe it are pinching themselves at this news given the vice like grip those designs had on Middle England for so many years. The virus […]

Morning Brief – Deep and sharp

Morning Brief – Deep and sharp

SGM-FX Tue 17 Mar 2020

Deep and sharp   Alarm bells are still ringing. Households are on lockdown. Authorities are seemingly powerless to overcome the Coronavirus pandemic. Yesterday the Fed’s almost unprecedented 1% weekend cut in the target rate and a $700bn ramp up in quantitative easing failed to placate markets. If you’re not sure what that means it’s the […]

Morning Brief – Unprecedented Action

Morning Brief – Unprecedented Action

SGM-FX Mon 16 Mar 2020

Unprecedented Action   Last night’s Federal Reserve action underlined the commitment of global monetary authorities’ to tackle the economic fallout from the virus. The Currency Market is opening steady from the move late on Friday night which no doubt lay behind the weekend decision. GBP a cent stronger versus USD but still sharply lower than […]

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