SGM-FX insights

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 […]

Mid-term Day:   US voters travelled to the polls today with the political composition of the United States on the line. The mid-term elections are closing in on their twilight with seats in Congress’ House of Representatives and the Senate up for grabs. Throughout the day it has grown increasingly likely that votes in the […]

EUR-avin’ a laugh.   The Commission sits today to discuss the future of the Italian budget. The Euro found support on Friday and throughout the weekend whilst EU Commission President Juncker proclaimed that there was no risk of Italy leaving the Euro. Labelling the secessionist forces that threaten to drag Italy away from Eurozone membership […]

Left; Right; Left; Right; A-Ten-Hut!   Defence was put on the table by the United Kingdom as a bargaining chip for a post-Brexit trading relationship. The UK is one of few nations that meets its NATO spending requirements on defence when measured as a percentage of GDP. Understandably, the UK has a developed defence sector, […]

Yes! No! Yes! NO! YES…! Maybe.   Well, that’s the Pound covered in a headline. Overnight, announcements claiming that the European Union and the United Kingdom were millimetres away from securing a deal for post-exit financial services allowed the Pound to secure an enormous bid. The fun came to an end momentarily at 10AM with […]

Porcupine Pound:   It was apparent as of market open this morning that the Pound had managed to secure a stronger footing. Stemming largely from a mild improvement in Brexit sentiment, the Pound soon recovered off of its 1.2701 lows against the US Dollar, even breaking through 1.13 against the Euro on two occasions this […]

Out for a penny, out for the Pound:   The Pound faced another day of horrors losing as much one half of one percent on a trade weighted basis versus its peers. Following the most generous budget for 10 years, investors have confirmed their sentiment that Brexit is all that matters now. With the deadline […]