SGM-FX insights

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 […]

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 […]