SGM-FX insights

Discussion and Analysis by Charles Porter:   Despite defying the dominant market opinion, and with inflation trailing well below a 2% target, the Bank of Canada raised their interest rate target by 25 basis points. This article analyses this move in the context of the global political economy and the viewpoint of the Bank of […]

Discussion and Analysis by Charles Porter: Canadian interest rate policy changed following the Bank’s last policy decision in July. A movement of 25 basis points to 0.75% continued to encourage the trend of a strengthening of the Canadian Dollar vis-à-vis most international currencies. However, on the back of strong GDP results at the end of […]

Discussion and Analysis by Charles Porter:   A recession in the South African economy has ended. This has been signalled by strong and positive annualised second quarter real GDP growth statistics. The growth performance of the South African economy surpassed expectations, resulting in an appreciation of the Rand, despite expectations already correctly forecasting the end […]

Analysis and Discussion by Charles Porter:   Two statistics have been released by the Swiss Federal Statistics Office this morning. Meanwhile the Franc weakened. In order to analyse this effect, we consider the Swiss Franc (CHF) against key international currencies and its safe-haven partner, the Japanese Yen.   The Swiss Franc has received heightened attention in […]

Discussion and Analysis by Charles Porter:   “ Conditions in the global economy are continuing to improve”, although, the degree to which the domestic Australian economy is feeling any of this improvement is less certain.   A reserved statement introducing the Monetary Policy Decision was released by Philip Lowe, Governor of the Reserve Bank of Australia. […]

Discussion and Analysis by Charles Porter: Friday Afternoon saw dramatic changes in the value of major international currency pairs. By examining the Sterling-Dollar, Sterling-Euro, and Euro-Dollar rate, the magnitude of two major events is unveiled: firstly, US payroll and unemployment data and, secondly, ECB indecision concerns.   Scheduled for a BST 1:30pm release, payroll and […]

Discussion and Analysis by Charles Porter: Whilst markets in the United States observe Labour Day, global markets have a quiet start to the week with a deficit of anticipated, notable and market-orientated announcements. However, as tensions continue to escalate amongst the Korean Peninsula, inducing a global spill over, the week may have more in store […]

Discussion and Analysis by Charles Porter: The Federal Reserve Bank of Philadelphia received media attention this week following their proclamation of the death, or at least the weakening, of the Phillips Curve. Commentary on this observation has regarded the European and United States macroeconomies alike. This three-part article challenges such a notion and, instead, demonstrates […]

Discussion and Analysis by Charles Porter:   The Federal Reserve Bank of Philadelphia received media attention this week following their proclamation of the death, or at least the weakening, of the Phillips Curve. Commentary on this observation has regarded the European and United States macroeconomies alike. This three-part article challenges such a notion and, instead, […]

Discussion and Analysis by Charles Porter:   The Federal Reserve Bank of Philadelphia received media attention this week following their proclamation of the death, or at least the weakening, of the Phillips Curve. Commentary on this observation has regarded the European and United States macroeconomies alike. This three-part article challenges such a notion and, instead, […]

Discussion and Analysis by Charles Porter:       As pessimism continues to surround the UK political economy with consistently positive macroeconomic results being published within the Eurozone, dominant market trends will be difficult to arrest. With this message mind, this article analyses the propensity of events and data releases to manipulate the Sterling-to-Euro (GBPEUR) […]

Discussion and Analysis by Charles Porter   Economic Growth in the United States of America, measured by the annualised growth of Gross Domestic Product (GDP), in the second quarter of 2017 was 2.6%. This headline figure, published last month, was an ‘advance estimate’ and will be revised within a second estimate this afternoon. This article […]