SGM-FX veteran Graham exhausted with trying to explain Brexit to his clients over the past 3 years has asked me for 3 examples of things that had taken less time to accomplish (NB accomplish….!) and here they are:
Building the Titanic( 2 ¼ years)
Flying the 35 million miles from Earth to Mars ( 10 months)
Building the Eiffel Tower (2 years)
Crude oil increased in price to the high of the year at $62.58 on the back of power cuts in Venezuela affecting output, reduction in supply from Saudi Arabia and lower US production. News in that China and the US have resolved most issues in the way of a trade deal sent Asian stock markets higher. US Treasury bond yields rose to 2.5%. The USD weakened marginally against all currencies and the EUR index strengthened 0.2%. GBP weakened initially on further uncertainty and Theresa May agreeing to meet Jeremy Corbin to try and find a way through the impasse. The European response? A NoDeal Brexit is more likely than THAT making progress. Gold little changed at $1292.
Discussion and Analysis by Humphrey Percy, Chairman and Founder
Click Here to Subscribe to the SGM-FX Newsletter
Related Insights
Daily Brief – (No) confidence neighbours
Charles Porter
Tue 17 Dec 2024
(No) confidence neighbours The vote of no confidence that brought Michel Barnier’s French parliament to the ground is only just in the rear-view mirror. Yesterday, Olaf Scholz’s coalition faced a similar vote paving the way to national elections in Germany. At the same time as we have been commenting upon the economic malaise that has […]
Daily Brief – British Pound
Humphrey Percy
Fri 20 Dec 2024
British Pound With GBP if not all at sea but wallowing against the crashing waves of USD strength, it is a tale of two cities for beleaguered Brits: GBP/USD dipping below the previous floor of 1.2600 but versus EUR GBP still looking firm due to the apparent divergence between the Federal Reserve and the European […]
Daily Brief – That’s going to leave a mark
Charles Porter
Thu 19 Dec 2024
That’s going to leave a mark Overnight the Federal Reserve published its latest monetary policy decision. The relentless appreciation of the Dollar lately has been driven by the combined narratives of a soft landing, US economic exceptionalism, the forthcoming Trump presidency and the belief the Fed may have to moderate its easing cycle accordingly. The […]
