SGM-FX insights

Brace, Brace:   As Thanksgiving gives way to Black Friday, markets have been particularly thin, allowing for considerable volatility within the world’s major currency pairs. The considerable swings in the US Dollar this afternoon could have been a result of limited US trade today, constraining the available supply of US Dollars, however, is more likely […]

Ambitious, Broad, Deep and Flexible:   We’ve heard the words before. Now they’re in the right place. Theresa May in the past has levied criticism at the European Union for a lack of ambition within Brexit relations, refusing to think outside of the box of incumbent treatises to facilitate a post-Brexit relationship between the United […]

Stock Check:   The US Dollar has been the major out-performer of the day, driven by a significant selloff in US equities. All major US stock market indices have closed in the red, with technology stocks leading the dive during the overnight Asian session. Household stock names including Apple suffered immense losses during the premarket […]

Brexit Bears:   The Pound continued to dive during Friday’s US session, with the Pound trading just shy of 0.89 pence per Euro. As leaders of both major political parties in the UK participated in televised debates, further light was elucidated upon the Brexit deal. Around midday, Sterling took a considerable dive through, momentarily dipping […]

Picking up pennies: The Pound has recovered from yesterday’s woes. However, a fragile 0.2% appreciation on the day offers Sterling markets little commiseration with EURGBP and GBPUSD both trading slightly below the mid-point of their medium-term range. The Pound received a good bid following a confirmation from The Times that Michael Gove will not resign from May’s Cabinet […]

Rudolph: 2018 has hit rock bottom for the Pound, with the largest intraday losses so far this year. Whether the floor ends up being a stable footing from which to begin to recover will be discovered over the coming days, however, as far as today’s European session is concerned, Sterling has failed to catch a […]

Just Another Rollercoaster: Adopting a V shaped trade throughout the day, Sterling largely parred the gains that it had enjoyed throughout overnight Asian and early European trading this morning. By midday, the Pound had lost more than 1% of the gains it had made during the overnight sessions following the technical agreement of the Northern […]

Technically just Technicalities:   Deal or no Deal? Well, it’s quite a good question actually! The picture of Brexit remains remarkably opaque despite a flurry of reports suggesting that a deal is all but done on the Irish border backstop. This afternoon’s Sterling appreciation that peaked at as much as 0.8% versus market open was […]

A Remembrance Sunday to Forget:   The gravitas of yesterday’s Remembrance services were not enough to spare the fortune of the Pound throughout the Asian session last night and into this morning’s European session. Following another disappointing week for Brexit last week, CFTC data recorded yet another surge in net short Sterling positions, reflecting growing […]

TGIF:   This week has closed with a bang. A Federal Open Market Committee decision last night, more Brexit news than you can shake a stick at and a Euro that just can’t make up its mind all added to the confusion. This morning, DUP leader Arlene Foster kicked Sterling markets into a spiral with […]

#ThrowbackThursday:   Look around. The Federal Reserve has tightened policy considerably, the European Central Bank’s first anticipated interest rate hike in seven years is pencilled in for next year. Add to that the removal of the stimulus provided by numerous quantitative easing programs and it’s unsurprising that the waters are beginning to turn choppy. Put […]

Congressional Juggling:   The people of the United States have spoken! With both Trump’s Republican party and the Democrats claiming victory over the mid-term elections in the public eye, markets have been more decisive in the face of the ballot. The Republicans held control of the Senate, however, ceded power of the House of Representatives […]