SGM-FX insights

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

Morning Brief – Bank of England

Morning Brief – Bank of England

Humphrey Percy Wed 25 Oct 2023

Bank of England As most readers know, the Monetary Policy Committee is due to pronounce on the next move or pause in UK interest rates next week on 2 November. Having paused at 5.25% in September after 14 consecutive rate rises, the expectation despite the stubborn 6.7% rate of inflation is that there will also […]

Morning Brief – Two Bills

Morning Brief – Two Bills

Charles Porter Tue 24 Oct 2023

Two Bills Yesterday’s market was dominated by comments coming from some highly influential financial voices. Not authorities this time, but investors and in particular two individuals: hedge fund managers Bill Ackman and Bill Gross. These two individuals had been very vocal about their short US treasury view and the need for benchmark traded US rates […]

Morning Brief – Inflation and Conspiracy Theory

Morning Brief – Inflation and Conspiracy Theory

Humphrey Percy Mon 23 Oct 2023

Inflation and Conspiracy Theory Florida based Ned Davis Research captured a few headlines in the USA over the weekend with their analysis of Consumer Price Inflation in the period between 1966 and 1982. Having selected the time frame they then overlaid it with CPI for 2014 until 2023. Looking at the charts they do look […]

Morning Brief – UK Economic Outlook

Morning Brief – UK Economic Outlook

Humphrey Percy Fri 20 Oct 2023

UK Economic Outlook The announcement earlier in the week that inflation is stuck at 6.7% has given rise to further examination of what’s in store for the UK in the next year: firstly the expectation is that base rates will remain above 5% until the end of 2024. Next under the microscope is the amount […]

Morning Brief – A seller

Morning Brief – A seller

Charles Porter Thu 19 Oct 2023

A seller With US treasury prices still dominating flows across the world, do we need to worry about China’s swelling selling appetite? In recent memory China has always been one of the most significant holders of US treasury bills. Counting as quasi-FX reserves and a stabilising financial asset to hold within its coffers, China’s ownership […]

Morning Brief – US Federal Reserve

Morning Brief – US Federal Reserve

Humphrey Percy Wed 18 Oct 2023

US Federal Reserve Given what feels like the near non-stop commentary on the path of US interest rates, it may be useful to break down where we are now in readily comprehensible speak given the predilection of the world’s central bankers to obfuscate with the Fed being one of the world’s leading proponents of opaqueness. […]

Morning Brief – The Focus

Morning Brief – The Focus

Charles Porter Tue 17 Oct 2023

The Focus Markets have been dominated by the geopolitical risk presented by events in Israel and neighbouring geographies. Week on week, this has meant that the best performing G-10 currency has been the Swiss Franc benefiting from a safe haven, defensive move. Despite US treasuries taking a breather from their chaotic sell off, the US […]

Morning Brief – Geo-Political Tensions

Morning Brief – Geo-Political Tensions

Humphrey Percy Mon 16 Oct 2023

Geo-Political Tensions While it has not been hard to disagree with JPMorgan CEO, Jamie Dimon on occasion since he is by inclination a prolific pronouncer, this time he is spot on: the world is faced with the most dangerous combination of challenges for several decades with the wars in Ukraine and In Israel. That in […]

Morning Brief – USA Inflation

Morning Brief – USA Inflation

Humphrey Percy Fri 13 Oct 2023

USA Inflation In the year to end of September US inflation stands at 3.7%. While it has come down, the snag is that it is not continuing its downward trajectory as expected, and it is this sticky inflation that has strengthened the USD in the last hours of yesterday’s trading session. That has meant that […]

Morning Brief – A Hedge Becomes Defence

Morning Brief – A Hedge Becomes Defence

Charles Porter Thu 12 Oct 2023

A Hedge Becomes Defence Central banks and governments, depending upon the division of financial authority in a given nation, will hold significant Foreign Currency Reserves. There are many reasons to hold FX reserves. Firstly, it allows the nation to finance the capital account deficits created by its consumer, business, investment and governmental spending. Aside from […]

Morning Brief – UK Branch Banking

Morning Brief – UK Branch Banking

Humphrey Percy Wed 11 Oct 2023

UK Branch Banking This week has revealed the difference in bricks and mortar strategies between the traditional clearing banks and first an ex building society now a bank and then a challenger bank. The clearing banks have been efficient and some would say ruthless in shutting branches. There are now 4,000 branches in the UK […]

Morning Brief – Magnifying glasses

Morning Brief – Magnifying glasses

Charles Porter Tue 10 Oct 2023

Magnifying glasses We have been speaking about a data-driven FX market for some time now. Ever since the scramble to keep up with the global interest rate hiking cycle began to relax, markets have been forced to look towards data for clues regarding the path ahead. Virtually every developed market central bank that has begun […]

1 2 3 4 5 112

    Get news and insights, delivered directly

    Start your day with a sharp, concise and relevant financial briefing from our team of experts.





    Stay ahead of the curve and get your daily briefings direct to your inbox. By signing up, you agree to our terms & conditions.