Daily Brief – UK GDP

UK GDP

It may not suit the narrative of the UK’s naysayers and doomsters, but Q2 UK GDP showed +0.6%. Apart from being good news for UK plc it almost certainly will dampen the enthusiasm for the Bank of England’s MPC to cut rates again immediately. That in turn strengthens the case for GBP to remain firm. So when the USD had a weaker day yesterday the die was cast for GBP to perk up.

GBP/USD 1.2855.

Fine Dining

Who is Andy Hayler? Well he was a top Information Manager at Royal Dutch Shell until he caught the bug of eating at 3 Star Michelin restaurants. When he started on his odyssey there were less than 50 3 star restaurants globally but he nevertheless set out to eat at all of them. Now there are 150 but Andy Hayler has managed to try them all and is one of a very small number of people to have done so. On that journey which is a full time and expensive occupation, he has relinquished his role at Shell and has become a food critic and TV personality with his own website which has won plaudits for offering frank assessments of quality and value for money irrespective of reputation.

GBP/EUR 1.1680.

Belgium 

Usually Belgium is best known for its ability to produce excellent beer; however Belgian wine is now a thing due to climate change and 3.4 million litres were produced last year. Now Belgian wine growers are complaining that successive hot summers are making it difficult to achieve consistency as well as encouraging a whole raft of new to Belgium insects that are interfering with Belgium’s wine. Back to Belgian beer then.

EUR/USD 1.1010.

Turnberry

For golfers the Ailsa course at Turnberry in Scotland is a bucket list item. It also may now involve some furrowed brows given that owner Donald Trump has increased the price of a round for golfers not staying at the resort to an eye watering GBP 1000 .

EUR/JPY 162.15.

My Sharona

This was the biggest single of the summer selling 1 million+ records released this day in 1979. The lyrics would not pass muster these days but no such qualms then when it was written by Doug Fieger of The Knack for his younger girlfriend Sharona Alperin:

Ooh, my little pretty one, pretty one
When you gonna give me some time, Sharona?
Ooh, you make my motor run, my motor run
Gun it coming off of the line, Sharona

Never gonna stop, give it up, such a dirty mind
I always get it up for the touch of the younger kind
My, my, my, I, yi, woo!
M-m-m-my Sharona

Come a little closer, huh, ah, will ya, huh?
Close enough to look in my eyes, Sharona
Keeping it a mystery gets to me
Running down the length of my thighs, Sharona

Never gonna stop, give it up, such a dirty mind
I always get it up for the touch of the younger kind
My, my, my, I, yi, woo!
M-m-m-my Sharona
M-m-m-my Sharona

When you gonna give to me, g-give to me?
Is it just a matter of time, Sharona?
Is it j-just destiny, d-destiny
Or is it just a game in my mind, Sharona?

Have a great weekend!

Discussion and Analysis by Humphrey Percy, Chairman and Founder

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