The doom sayers predicted USD collapse but the reverse happened,

[syed putra]

Currencies hit over two-year lows as dollar rules​

UK’s sterling crashed to a record low on mounting concerns that the new government’s economic plan will stretch Britain’s finances to the limit. —Reuters pic
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Monday, 26 Sep 2022 6:19 PM MYT
LONDON, Sept 26 — Emerging market currencies hit a more than two-year low today, as the US dollar strengthened on its rising safe-haven appeal, while stocks started the week in red on jitters about a global economic slowdown.

MSCI’s index of EM stocks declined 1.4 per cent, while the index for EM currencies fell 0.6 per cent. Both indexes were headed for their lowest levels since mid 2020.

UK’s sterling crashed to a record low on mounting concerns that the new government’s economic plan will stretch Britain’s finances to the limit, boosting the safe-haven dollar to 114.58 for the first time since May 2002, before easing to 113.22 against a basket of major peers.
“The dollar is on the run and that is always a challenging thing for the EM space,” said Jakob Christensen, head of global macro research at Danske Bank.

“UK’s fiscal plans shook markets as this may be replicated in other countries leading to worse fiscal situations and more aggressive central bank hikes in major economies which have indirect implications for emerging markets.”

China’s onshore yuan touched a 28-month trough, even as the country’s central bank announced fresh steps to slow the pace of the currency’s recent depreciation.
India’s rupee, too, hit record lows against the dollar. Traders told Reuters that the Reserve Bank of India likely sold dollars to contain the currency’s decline, which has been touching fresh lows for the last three consecutive sessions.
South Africa’s rand weakened 1 per cent as a firmer greenback, weakness in gold prices and aggressive stance on interest rates by major central banks weighed on sentiment.
The Turkish lira was also down 0.2 per cent.
The Russian rouble pulled back from a more than two-month high against the dollar in the previous session, as voting continued in referendums that could see four Ukrainian regions annexed by Russia.
“The geopolitical risk around Russia is weighing on neighbouring countries like Poland and Hungary,” Christensen said.
Central and Eastern European currencies were mixed against the euro.
Czech crown was flat after data showed consumer confidence touched almost two-decades low in September, as high inflation and surging energy costs bite.
The Hungarian forint slipped 0.2 per cent against the euro ahead of its rate decision on Tuesday where it is expected to deliver another 100 basis point hike. — Reuters

 

[syed putra]

And just when shops and malls are shutting in US just a few months ago as consumers spending slowed down, but inflation due to supply issues, went up.

It Started: The Housing Market Is Collapsing​

BySteve Burns​

SEP 10, 2022
Let’s look at the first signs of the demand for high priced houses collapsing and how much of it is location based around the U.S.

Is the housing market in a recession?​

Most home builders and mortgage brokers say that we have entered a housing recession.

Here’s what they are seeing:

• Higher mortgage rates are causing a slowdown in new mortgages.
• Supply chain issues have continued to keep new construction costs high.
• Labor shortages have also lead to building new homes being expensive.
  
  
• Commodity costs were high for a long time leading to higher new home prices and replacement value caused older homes to increase in value and this increase in prices has finally run out of demand in the marketplace.
• Sales activity has declined for six consecutive months.
• Many new home building contracts have been cancelled.
  
  
• Housing prices have started to decline sharply in the previous hottest U.S. cities.
• There have been many reductions in prices for listed houses across the country in many markets.
• Homes for sale have even been taken off the market due to sellers not wanting to accept these lower prices.[1]

 

[ChinaCommunistSG]

Where is TanWahTiu

 

[syed putra]

Where is TanWahTiu

Fighting the godamn virus. Still........

 

[Boliao]

It's already happening as more countries move away from using USD as their trade currency. RMB has risen to overtake JPY as the 3rd largest currency used in the world.

Wait for the mass retrenchment to happen before recession hits.

 

[syed putra]

It's already happening as more countries move away from using USD as their trade currency. RMB has risen to overtake JPY as the 3rd largest currency used in the world.

Wait for the mass retrenchment to happen before recession hits.

But currently a flood of money is pouring into the US due to high interest rates plus appreciating value.

 

[Boliao]

But currently a flood of money is pouring into the US due to high interest rates plus appreciating value.

Borrowing cost for business rises in parallel, T-bill payout on higher interest will put US over 30 trillion and will hit 105% of US GDP in 2030. This is only good for the cash rich in US and bad for everyone else (especially the world outside of US).

$1 USD is ¥144 JPY today versus ¥103 JPY in Jan 2021; that's approx 40% devaluation of JPY. If you are the Japanese government, wouldn't you be thinking of decoupling from USD?

 

[syed putra]

$1 USD is ¥144 JPY today versus ¥103 JPY in Jan 2021; that's approx 40% devaluation of JPY. If you are the Japanese government, wouldn't you be thinking of decoupling from USD?

Japan have very little usd loans.only problem is the purchase of energy and raw materials.

 

[ChinaCommunistSG]

Can China use RMB to buy intel chips ?

 

[syed putra]

Can China use RMB to buy intel chips ?

Its up to the seller if he agrees.but sticking to usd makes his business more nimble as its a US company.

 

[ChinaCommunistSG]

I know many Chinese PRC have secret bank accounts in USD because nobody trusts Chinese Communist

 

[laksaboy]

I know many Chinese PRC have secret bank accounts in USD because nobody trusts Chinese Communist

Soon those will be banned due to national security.

 

[mahjongking]

Currencies hit over two-year lows as dollar rules​

UK’s sterling crashed to a record low on mounting concerns that the new government’s economic plan will stretch Britain’s finances to the limit. —Reuters pic
Follow us on Instagram, subscribe to our Telegram channel and browser alerts for the latest news you need to know.
Monday, 26 Sep 2022 6:19 PM MYT
LONDON, Sept 26 — Emerging market currencies hit a more than two-year low today, as the US dollar strengthened on its rising safe-haven appeal, while stocks started the week in red on jitters about a global economic slowdown.

MSCI’s index of EM stocks declined 1.4 per cent, while the index for EM currencies fell 0.6 per cent. Both indexes were headed for their lowest levels since mid 2020.

UK’s sterling crashed to a record low on mounting concerns that the new government’s economic plan will stretch Britain’s finances to the limit, boosting the safe-haven dollar to 114.58 for the first time since May 2002, before easing to 113.22 against a basket of major peers.
“The dollar is on the run and that is always a challenging thing for the EM space,” said Jakob Christensen, head of global macro research at Danske Bank.

“UK’s fiscal plans shook markets as this may be replicated in other countries leading to worse fiscal situations and more aggressive central bank hikes in major economies which have indirect implications for emerging markets.”

China’s onshore yuan touched a 28-month trough, even as the country’s central bank announced fresh steps to slow the pace of the currency’s recent depreciation.
India’s rupee, too, hit record lows against the dollar. Traders told Reuters that the Reserve Bank of India likely sold dollars to contain the currency’s decline, which has been touching fresh lows for the last three consecutive sessions.
South Africa’s rand weakened 1 per cent as a firmer greenback, weakness in gold prices and aggressive stance on interest rates by major central banks weighed on sentiment.
The Turkish lira was also down 0.2 per cent.
The Russian rouble pulled back from a more than two-month high against the dollar in the previous session, as voting continued in referendums that could see four Ukrainian regions annexed by Russia.
“The geopolitical risk around Russia is weighing on neighbouring countries like Poland and Hungary,” Christensen said.
Central and Eastern European currencies were mixed against the euro.
Czech crown was flat after data showed consumer confidence touched almost two-decades low in September, as high inflation and surging energy costs bite.
The Hungarian forint slipped 0.2 per cent against the euro ahead of its rate decision on Tuesday where it is expected to deliver another 100 basis point hike. — Reuters

go on, buy more usd please, dont be fooled by mainstream broking media, when i was a bank currency trader in the 80s, yen was 230 per usd
usd/sgd was 1.98, the euro never exist yet

ALL fiat currencies are weak, buying much less daily necessities than 40 years ago
the usd is 'strong' against other currencies BUT, surprisingly, it is weak against the.....ruble....148 when ukraine war broke out and now 58..strong usd indeed, give it another 3 or 6 mths when BRIC nations starts trading in other currencies and abandon the usd

also if the stock market tanks and all start to sell stocks for usd.....where will these 'strong' usd go to?
most of us dont realised that the US, biggest printer of unbacked paper money is actually robbing everyone, this printed usd comes to our shores, exchange for sgd and buys up all our valuables like houses and stocks......ditto for other innocent countries that uses the usd


https://www.usdebtclock.org/

 

[congo9]

Usd is essential. If not, you be bullied by RMB

 

[congo9]

I know many Chinese PRC have secret bank accounts in USD because nobody trusts Chinese Communist

Exactly.. No one trusted the communist.

 

[eatshitndie]

1 usd = 7.169 cny. 6.9 was the prc limit they can tolerate and the limit they claim they will make a stand. now cny is weaker, and they can’t do jackshit. go figure.

 

[syed putra]

Exactly.. No one trusted the communist.

Maybe its time to put your faith in PAP?

 

[winners]

I know many Chinese PRC have secret bank accounts in USD because nobody trusts Chinese Communist

KNNBCCB, my ex-Tiong tenant had her DBS account forced closure "due to unusual activities". She must have executed Money Laundering using her DBS account and enforcing DBS to take that drastic action. I personally saw that DBS letter myself. Now she opened a new account with OCBC and I'm contemplating to whistle blow on her to OCBC.

 

[syed putra]

Exactly.. No one trusted the communist.

You mean nobody trust chinese, communist or non communist.

 

[GOD IS MY DOG]

Currencies hit over two-year lows as dollar rules​

UK’s sterling crashed to a record low on mounting concerns that the new government’s economic plan will stretch Britain’s finances to the limit. —Reuters pic
Follow us on Instagram, subscribe to our Telegram channel and browser alerts for the latest news you need to know.
Monday, 26 Sep 2022 6:19 PM MYT
LONDON, Sept 26 — Emerging market currencies hit a more than two-year low today, as the US dollar strengthened on its rising safe-haven appeal, while stocks started the week in red on jitters about a global economic slowdown.

MSCI’s index of EM stocks declined 1.4 per cent, while the index for EM currencies fell 0.6 per cent. Both indexes were headed for their lowest levels since mid 2020.

UK’s sterling crashed to a record low on mounting concerns that the new government’s economic plan will stretch Britain’s finances to the limit, boosting the safe-haven dollar to 114.58 for the first time since May 2002, before easing to 113.22 against a basket of major peers.
“The dollar is on the run and that is always a challenging thing for the EM space,” said Jakob Christensen, head of global macro research at Danske Bank.

“UK’s fiscal plans shook markets as this may be replicated in other countries leading to worse fiscal situations and more aggressive central bank hikes in major economies which have indirect implications for emerging markets.”

China’s onshore yuan touched a 28-month trough, even as the country’s central bank announced fresh steps to slow the pace of the currency’s recent depreciation.
India’s rupee, too, hit record lows against the dollar. Traders told Reuters that the Reserve Bank of India likely sold dollars to contain the currency’s decline, which has been touching fresh lows for the last three consecutive sessions.
South Africa’s rand weakened 1 per cent as a firmer greenback, weakness in gold prices and aggressive stance on interest rates by major central banks weighed on sentiment.
The Turkish lira was also down 0.2 per cent.
The Russian rouble pulled back from a more than two-month high against the dollar in the previous session, as voting continued in referendums that could see four Ukrainian regions annexed by Russia.
“The geopolitical risk around Russia is weighing on neighbouring countries like Poland and Hungary,” Christensen said.
Central and Eastern European currencies were mixed against the euro.
Czech crown was flat after data showed consumer confidence touched almost two-decades low in September, as high inflation and surging energy costs bite.
The Hungarian forint slipped 0.2 per cent against the euro ahead of its rate decision on Tuesday where it is expected to deliver another 100 basis point hike. — Reuters

the Jewish commercial banks decide the value of currencies..................these banks also own the Federal Reserve.............