SGM-FX insights

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

Morning Brief – Wednesday 12th

Morning Brief – Wednesday 12th

SGM-FX Wed 12 Sep 2018

Plain Sailing across the Channel:   This Brexit malarkey is a walk in the park! Well, that’s what the Secretary of State for Exiting the European Union, Dominic Raab MP, must be thinking! Largely coincidentally, since the departure of David Davis, news on Brexit has been overwhelmingly positive, providing a boost to Sterling: Barnier mentions […]

Morning Brief – Tuesday 11th

Morning Brief – Tuesday 11th

SGM-FX Tue 11 Sep 2018

Realistic and Possible:   Four consecutive days of Brexit sentiment certainly has the Pound supported, but it has me concerned. The fragility of the statements presents a serious risk to the Pound should the expectations that news snippets have nurtured be undermined. Markets are in a risk-off mood this morning with safe havens including the […]

Morning Brief – 10th September

Morning Brief – 10th September

SGM-FX Mon 10 Sep 2018

In the Green:   The Swedish elections have slipped by with relative quiet. The political risk that elections have brought to the domestic economy had been sufficient in recent weeks to push the Swedish Krone back down to critical lows last seen in 2009. The correlation and price action within major crosses over the past […]

Morning Brief – 7th September

Morning Brief – 7th September

SGM-FX Fri 7 Sep 2018

Constrained ranges across the board:   The Dollar managed to hold its inflated value yesterday amidst growing concerns that its position is growing increasingly unsustainable. Domestic monetary tightening has benefitted the Dollar immensely throughout 2018, however, the Dollar’s appreciation has been driven by trade war fear mongering and the result of a ‘defensive demand’; hence […]

Morning Brief – Thursday 6th September

Morning Brief – Thursday 6th September

SGM-FX Thu 6 Sep 2018

Buy the Rumour, Sell the News:   Magnificent volatility was seen in the Pound Sterling yesterday as traders manoeuvred themselves around little more than playground chatter. At market open, Brexit concerns had hampered the Pound, with positive PMI data insufficient to raise the domestic currency any more than a few basis points. In the euro, […]

Morning Brief – 5th September 2018

Morning Brief – 5th September 2018

SGM-FX Wed 5 Sep 2018

Enough is enough:   Emerging markets looked to have snapped once again with the Turkish Lira, the Rand and the Argentine Peso tumbling by approximately 1% ahead of the European market open. Despite hefty domestic FX devaluations, emerging market stock indices have been harmed considerably; a seemingly textbook evolution of a systemic emerging market crisis. […]

Morning Brief – 4th September 2018

Morning Brief – 4th September 2018

SGM-FX Tue 4 Sep 2018

Following a low volatility European trading day, the US session remained subdued as banks and the public observed Labor Day. A lack of confidence in emerging markets continue to be the dominant theme, with investors still unwilling to risk their money in assets including the Turkish Lira and the South African Rand despite the immense […]

SGM-FX Mon 13 Aug 2018

With England’s World Cup well and truly over, the beacon of Love Island extinguished, and the UK frankly just a touch too hot, I assume I will be forgiven, perhaps even praised, for distracting your attention from these tragedies and delving into the UK’s monetary policy backdrop. For the second time in over a decade, […]

Market Snapshot

Market Snapshot

SGM-FX Mon 13 Aug 2018

    A rapidly appreciating US Dollar has sent shockwaves through a previously tranquil market. The extenuation of an extant rally within the Dollar has been precipitated by the intensification of a trade war between the US, China and increasingly Russia. Coupled with a sustained and considerable tightening of monetary policy, with increasingly hawkish comments […]

With Great Power

With Great Power

SGM-FX Fri 22 Jun 2018

Last Thursday, the European Central Bank undertook and presented what is, and what will be, arguably their most important monetary policy decision of this year. In keeping with the dominant theme from the Governor who hasn’t raised rates since he took office in 2014, the monetary policy decision was vague, dovish and resulted in an […]

Overpriced Sterling

Overpriced Sterling

SGM-FX Fri 22 Jun 2018

Following weeks of political and economic tumult, the Pound is not out of trouble just yet. Having only just survived the FX week from hell last week, (which saw a slurry of economic data and no less than four interest rate decisions across the globe), Thursday’s Bank of England decision stands as a great obstacle […]

European Economic Community

European Economic Community

SGM-FX Wed 16 May 2018

European Economic Community   Talks on the formation of a populist coalition government in Italy have dominated headlines for the past week. Following a closely watched and ultimately as yet inconclusive election in Italy that took place over two months ago, a potential coalition between the ‘Five Star’ and ‘League’ populist parties appears to be […]

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