SGM-FX insights

Buying’s Over:   This afternoon’s European Central Bank meeting briefly took attention away from the European Council Summit in Brussels today. In its last monetary policy statement of the year the European monetary authority confirmed that net asset purchases would end, as planned, ahead of 2019. To the detriment of the Euro, ECB President Draghi […]

Santa Claus is coming to Pound:   Yesterday afternoon’s pessimism surrounding the capacity for Theresa May to negotiate any concessions or adjustments in Europe faded into concerns hinting towards the twilight of her premiership itself, the Pound took a tumble. The New York session saw an uncharacteristically large 0.35% wiped off of the value of […]

MAYDAY:   The stubborn and perseverant Theresa May has travelled to the Netherlands today in order to meet the Dutch Prime Minister and Brexit ally, Mark Rutte. Thought to have continually supported the United Kingdom and the Prime Minister within the European Council throughout the Brexit process, May was looking to foster support ahead of […]

Maggie May:   Mmm… Well… What an interesting day for global FX markets. The day kicked off with the Court of Justice of the European Union confirming the opinion expressed by the Advocate General that Brexit is indeed reversable. Article 50 can be unilaterally reversed by the United Kingdom should it choose to do so. […]

All right me old China?   According to the early morning Tweet of the 45th President of the USA today, the Sino-US trade talks are all going very well. Equity Markets have taken that at face value and not only arrested the declines of the past few days but also staged a recovery in European […]

Wakey Wakey!!   Markets have kicked into life today, with US equity indices tumbling from their elevated perch. Falling by approximately 2% across the board, the sell off across the Atlantic has left a risk-off feel within markets, with investors flocking to safety. From the two graphs below, investors’ concerns can be clearly seen. The […]

No No-Deal:   There have been interesting developments within Sterling markets overnight and throughout today’s European session. Yesterday, it was decided that the government was in contempt of Parliament for failing to disclose the outcome of the legal advice it has sought. The provision within parliamentary rules was invoked and voted upon given the argument […]

Brexit or No Brexit?   By the look of the dichotomous questions spreading across the globe, the first casualty of ITV’s I’m a Celebrity, Noel Edmonds, may have headed to Brussels. At the European market open this morning, the Pound Sterling rallied, gaining as much as 0.35% throughout the morning. The news that propelled the […]

The Big Four:   Riots across Paris this weekend by protect group gilets jaunes have wrought havoc across the city, seeing an emergency meeting called by the French President Emanuel Macron upon his return from the G20 Summit in Argentina. Despite not being significant enough in order to move the currency adopted by some 340m+ […]

Back to the Future:   The last trading day in November reflects a calmer end to a frenetic week both economically and politically and nowhere more so than in the UK where news headlines have been dominated by Westminster and Brussels rather than IACGMOH and hot favourite Harry Redknapp.   However, for those who think […]

Powell’s Put:     Jay Powell, Chair of the Federal Reserve in the United States, has reignited the debate of monetary policy within the world’s dominant currency. The US Dollar has faced a considerable headwind following the speech by the Reserve bank chief. The Dollar has given back ground to an appreciating Euro, with EURUSD […]

National Interest:   In a busy afternoon for global central banks, currency markets have been highly volatile. Perhaps the most significant publication of this afternoon was the Bank of England’s economic assessment upon monetary and financial stability given certain possible Brexit outcomes. The much-awaited publication responding to the House of Commons Treasury Committee attested to […]