SGM-FX insights

Spot the Difference     What do the following two graphs have in common?         Points for the best answer: they both have a blue line, they both demonstrate limited finesse on Excel, they both don’t have labels on their axes? You’re all correct, but the true problem hidden beneath these graphs […]

OPEC+: Herding Cats   Pre meeting on Thursday the so called delinquent members of the cartel- Iraq and Nigeria in particular – reneged on their commitments to cut production. The largest members KSA and Russia in turn have said that if they do not adhere to the line agreed by OPEC+, then they in turn […]

Pocket Money   Last night, after 21 hours of negotiations, the German government secured an agreement on the next phase of fiscal spending. The measures announced range from more pocket money for children to a climate change fund orientated towards digitisation and electric cars. The one big thing missing was an incentive for the purchase of […]

Renault   Maubeuge not far from Douai in northern France has a Renault factory that is pretty much at a standstill and so management are wondering if it should be part of the EUR2 billion and 14,600 job cuts that they need to make worldwide of which one third will be in France. Anyone who […]

A step too far   There is a widespread feeling within markets that valuations have gone too far too soon. For example, you’d find it difficult to find someone willing to argue that the equity market today reflects the severity of the impending recession and the erosion of corporate earnings. The thing that has defined […]

OPEC+   News that Russia has dropped its objections to Algeria which currently holds the presidency of OPEC arranging for an early get together to help out its pals Saudi Arabia, Kuwait and the UAE is set to liven up the oil market this week with a date now set for Thursday. With WTI at […]

Australia: A window on the future of print   Newscorp the owner of print and on line publications across the world has called time on more than 100 local and regional printed papers in Australia. All 110 will from now on only be available on line. This is part of a widespread review of the […]

Here we go again   As the China-US trade war progressed and the Hong Kong protests continued last year, there was increasing chatter of the implications to the USDHKD peg. 2019 saw bets against the Hong Kong Dollar reach record levels as investors positioned themselves for a potential organised devaluation. We cautioned at the time […]

Global Equity Markets   A strong day for all equity markets and worth noting that the S&P Futures Index is back to the level it was at at the beginning of March. So pricing reflects plenty of optimism that the worst is behind us and buoyed on a wave of even cheaper funding, equity markets […]

Cummings and Goings   The most divisive thing in the United Kingdom since Brexit seems to be the adherence of the Prime Minister’s Chief advisor, Dominic Cummings, to the lockdown rules. If you’ve somehow managed to ignore the story, it concerns allegations that the senior advisor travelled an agonisingly precise 264 miles to a family home […]

Today Spring Bank Holiday in the UK   And also in the USA (Memorial Day) as well as the Middle East and other Muslim centres celebrating Eid Al Fitr and the end of Ramadan. SGM-FX is working a full day today ready to support our clients and what is shaping up to be a busy […]

Sri Lanka   It was this day in 1972 that Ceylon became the Socialist Republic of Sri Lanka. Sri Lanka’s documented history spans 3,000 years, with prehistoric human settlements dating back at least 125,000 years. Nearer to today and rather more pertinently, the Sri Lanka Rupee is trading at 186 to USD less than 5% weaker […]