FX Monthly movement
- US$/1.25 up from 1.23
- US$/€1.07 up from 1.06
- £/€ 1.17 unchanged
The ‘Trump effect’ is having a very positive impact on the US dollar at present, as the executive orders do appear to, at least in the short term, provide a stimulus to the US economy and the Dow has responded in a corresponding manner. However, we are at the beginning of the ‘honeymoon’ and the USA is now downgraded by the Economist Intelligence Unit, to a ‘flawed democracy’ with declining trust and increasing inequality, leading to populist politicians.
The Euro is out of the spotlight at present, although it will undoubtedly take centre stage at some point in 2017. Whether it is an Italian financial crisis, the re-emergence of the Greek issue, or surprise leadership elections in Germany, France, Holland. Of course, the negative impact of the UK withdrawing from the community, where it makes up 17% of EU GDP, has negative consequences for the Euro too.
Sterling, continues to be supported by the consumer, and rides out the Brexit issue. Inflation will pick up in 2017, impacting on consumer spending for sure. Business will be looking for guidelines as to how exit negotiations and preliminary trade agreements develop, but for now we benefit from weaker sterling and a membership of the EU free trade circle. Interestingly if you examine UK trade records, our non-EU trade has grown year on year by 5%, whilst EU trade has shrunk by 1%. Yet EU imports to UK are growing by 2.5% per year and exceed our exports to the Eurozone by around £85billion/year.
Chinese Spring Festival is upon us, and the country is ‘closed for business’ until 3rd February. Shipments will resume a couple of weeks after this, once factories have started up and built inventory.
Several trade fairs take place this month; ISM Cologne, Biofach Nurnburg, and Gulfood Dubai.
We are planning to stock hulled hemp seed shortly, so should you be interested please contact us for specifications, samples etc.
We are carrying a larger and larger range of Organic seeds, and would like to receive your enquiries, from sesame to chia, poppy to buckwheat. All are available from stock with delivery within a couple of days. Please contact us for further details
IFE 2017 – Unicorn will be there! Please come and visit us on stand N1420
In this report:
- Pumpkinseed kernels
- Sunflower seed kernels
- Sesame seed
- Hulled millet
- Poppy seed
Download the full report (PDF)
Archive reports can be found and downloaded from our Downloads page