SGM-FX insights

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 […]

The Phoenix and The Fool: a guide to EURUSD.   As the Euro approaches a 7 week high I thought it important to qualify the recent rally in the single currency. It is surging across the board largely due to the integration measures that it is being seen to be considering. With Germany and France […]

Singapore and I.T.   Population 5.6 million: Covid19 cases 28,000 or 0.5%. Deaths 22-a shining example of a successful virus fighting strategy. However the new Singapore contact and trace App with only a take up by 25% of the population has got off to a shaky start: 357 people were texted informing them they had […]

Valuation Check   As the second trading day of this week begins it is apparent that the market is enjoying a wave of optimism. Due to the distress in financial markets throughout the lockdown we have seen the cyclical price action of meandering sentiment feed through to the foreign exchange markets more strongly than ever. […]

America Inc   With the Public Investment Fund (PIF) of Saudi Arabia topping up its holdings in US stocks, the market will take note and be of cheer especially as those stocks include Boeing, Citigroup, Bank of America and Facebook. PIF now holds $10 Billion in US stocks versus $2 Billion at the beginning of […]

The World’s largest fresh produce market: Rungis Market   234 hectares, EUR 9 billion turnover, 1200 companies. Where is it? The answer is just 7kms from the centre of Paris, France. Whether it is meat, dairy, fruit and vegetables, flowers, seafood, horticulture or logistics it’s all here under one roof. But….with restaurants and airlines among […]

Positively not negative   In a press conference yesterday Jay Powell distanced himself and his central Bank from the possibility of negative interest rates. It might sound a little dry and with hundreds of thousands of people having already lost their lives to Coronavirus, a little misplaced. However, to the foreign exchange market this news […]

USA Real Estate   Reassuring to see that there is still some very very expensive real estate available in these times in the USA. So if any of you fancy a 20 bed mansion with 23 bathrooms in Beverley Hills and are looking for a home for USD 165M, look no further. Likewise and relatively(?) […]

National Technology Day   Today May 11 is indeed National Technology Day in India and it is not only appropriate to celebrate that but also somewhat topical in these Locked Down days when the whole world not just India has recently undertaken crash courses in online technology such as Zoom, Team and other connectivity. Also […]

VE Day: UK Bank Holiday today   Today is a holiday in the London market, but SGM-FX is working a full day and is ready to provide a full service for our clients despite all banks being shut.     Fashion   We are now seeing fashion sales beginning to pick up again -but online […]