Equities managed a respectable gain on Friday which left the market at the end of the week looking less shaken if not exactly stirred. Oil WTI at $54.90 after news that the Iranian tanker was being released by Gibraltar raised hopes for a de-escalation in the Gulf. Gold firm at $1523 reflecting political and economic tension. Currency markets quiet on the back of little economic news on Friday.
This is the market’s name for the USD/CAD rate. Readers will not be overly surprised that despite the market rate being USD 1 to CAD 1.32 at the time of writing the international hotel group where I have been staying offered a rate of 1.10 or a margin of 17%! Nice work if you can get it: plenty of small businesses out there that would love an additional margin of 17%! Meanwhile I was not left cross as I deployed the SGM-FX PrePaid Card thereby saving myself that margin much to the disappointment of the hotel receptionist!
We all need to know: tea+apples+broccoli +oranges+blueberries=flavonoids added to our diets will help prolong our lives. Sgm-Fx’s Richard was burning the midnight oil late last night working out a recipe to include all of them simultaneously for his next braai (BBQ). Just don’t be downwind…….!
Discussion and Analysis by Humphrey Percy, Chairman and Founder
A weaker Dollar: Trump vs. Powell The Dollar continued to lose ground yesterday as the truce between Israel and Iran appeared to continue to hold. There has been a noticeable return to focus upon macro and monetary influences in major currency pairs. Yesterday, Fed Chair Jay Powell provided his semi-annual monetary policy report before the […]
Big Girls Don’t Cry A bond market tantrum and one of the sharpest one day sell offs in Sterling for several years appear to have been catalysed by the Chancellor’s appearance in PMQs yesterday. First: the back story. This Labour government has faced some embarrassment in recent weeks trying to get its welfare bill through […]
Next level EURUSD has managed a relatively smooth ascent to its current levels, around 1.18. That is despite significant resistance levels, most notably around 1.17. A large collection of option strike prices gathered around this key level and the price history of the pair shows us its significance. Sustained closes above this level since last […]