SGM-FX insights

Malaysia   Appropriately named, the world’s largest medical gloves manufacturer, Top Glove Corp Bhd posted a record profit yesterday of Malaysian Ringgit 2.87 Billion ($695 million) on revenues of RM 5.37 Billion an increase of almost 340% from last year. Through its competitive Malaysian offering, SGM-FX is seeing an increasing amount of Malaysian Ringgit business […]

Dead Cat Bounce   Perhaps it is a little harsh to refer to the US currency, a symbol of soft power throughout the globe and the foremost medium of exchange for decades as a dead cat. Nonetheless, the metaphor is appropriate and if that’s not enough for you, it’s done now anyway. To refer to […]

Today is International Women’s Day which has been celebrated since 1909.   US Economy   With the creation of 379,000 new jobs in February, the US economy is looking suddenly more robust that together with some weekend sunshine has brought out the inflation worriers with the notable exception of the Chairman of the Federal reserve, […]

Gold versus Silver   Silver stood at $27 on January 3 2021 and is now $27 ie unchanged. Gold on the other hand was $1,941 on January 3 2021 and is now $1,726 down 11%. In these days of pundits recommending buying gold as a hedge or more racily, buying bitcoin as a surrogate for […]

Budget   For the past few days government sources have steered expectations surrounding the budget that was delivered to the House of Commons yesterday. As with most policy changes since the pandemic begun, very little was left to the announcement itself. The push towards higher corporation taxes, extension of the stamp-duty holiday and freezing of […]

Zhejiang Geely Holding Group   Owners of Volvo, Guangzhou based Zhejiang Geely has announced that they will simplify the Volvo range, create transparent pricing and go fully electric by 2030 having already pledged to be 50% electric by 2025. They now join Bentley, Ford and Jaguar, Land Rover that have made the same pledge to […]

No-taper tantrum   There are two critical moments in any public body’s response to an economic shock. The first is the initial reaction – how will governing institutions respond initially to reassure the markets and public alike to preserve as much normality as possible. Whilst the sustenance provided by these institutions throughout the course of […]

St David’s Day   A very happy St David’s Day to all of our Welsh readers. Canonised in 1120AD by Pope Callactus ll, St David died this day in 589AD. St David’s Day is marked by wearing either a daffodil or a leek (or both) and eating Welsh rarebit or cawl which is a broth […]

US Dollar   Despite showing a gain to above JPY 106, USD was at a 3 year low yesterday as the commodity currencies such as the AUD and CAD benefited, as did the EUR posting $1.2230. Copper traded at $9,500 a ton its highest in 10 years and 10 year USTreasuries yielded 1.46%.   Asian […]

CHF   By the standards of the Swiss Franc, crosses including EURCHF, GBPCHF, and USDCHF are moving alarmingly fast. The sell off the in Franc is not necessarily bad news for either the aggregate Swiss population nor the rest of the world. Alongside the push towards normalisation in real economies and markets alike, the still […]

UK Unemployment Since march 2020 the number of people in work has fallen by 726,000 which is a 5 year high in unemployment to 5.1%-more than 60% of those jobs lost are the under 25’s. Within that overall figure, in Q4 2020 the number of people employed declined by 114,000. The statistic that stands out […]

UK Unemployment   Since march 2020 the number of people in work has fallen by 726,000 which is a 5 year high in unemployment to 5.1%-more than 60% of those jobs lost are the under 25’s. Within that overall figure, in Q4 2020 the number of people employed declined by 114,000. The statistic that stands […]