ASIA:  To stabilize China’s foreign exchange market and support the value of the yuan, the country’s central bank, the People’s Bank of China (PBC), announced that it will raise the foreign exchange (FX) risk ratio for foreign exchange forward trading from 0 to 20 percent, effective Wednesday. It will increase the cost of foreign exchange […]

One of the reasons why the US dollar remains the reserve currency is because it has NEVER been canceled. Europe routinely cancels coins and banknotes to prevent people from hiding cash. British is canceling the outstanding old paper banknotes of the 20 and 50-pound notes. They did issue polymer notes which are still valid – […]

ASIA: The Philippines will stop operations of 175 offshore gambling firms and deport about 40,000 Chinese workers, a justice ministry official said on Monday, part of a crackdown on the notoriously opaque online gaming industry. The sector emerged in the Philippines in 2016 and grew exponentially as operators capitalized on the country’s liberal gaming laws […]

COMMENT #1: Well done on the GBP PP COMMENT #2: Marty; Nobody agreed with you. Socrates is amazing! HJ COMMENT #3: You can buy your place back in Cornwall Gardens. Fantastic call! PK COMMENT #4: Nobody has ever beat you yet on currency forecasting. Thank you, my dollar account has paid off all my debt. […]

A new report by the Heritage Foundation claims that the average American had lost over $4,200 in annual income since Biden was sworn in due to rate hikes and inflation. They clearly are not factoring in retirement accounts or other investments, as most have lost substantially more. Consumer prices are up 12.7% since January 2021, […]

QUESTION: Good afternoon Mr. Armstrong. I have been a basic member for 6 years. Since then I have been following your USD prediction and it is on spot despite everyone saying the contrary. However, after seeing the EURO, Pound, Yen, and other currencies waterfall, why has the Mexican peso kept its value? I can’t find the […]

ASIA: The Reserve Bank of India is set to raise interest rates again next week with a slim majority of economists in a Reuters poll expecting a half-point hike and some others expecting a smaller 35 basis point rise. The RBI has lagged many of its global peers, despite inflation sticking above the top end […]

The Bank of England (BoE) all but admitted the UK is officially in a recession. Bank Governor Andrew Bailey stated weeks ago that there was nothing the central bank could do to prevent a recession at this stage. The Monetary Policy Committee (MPC) voted to raise rates by half a percentage point to 2.25%, marking […]

ASIA:   China left its benchmark interest rates unchanged at a one-month peg on Tuesday, as expected, as authorities appeared to delay immediate monetary easing after the local currency fell sharply and central banks tightened policy elsewhere. The one-year prime rate (LPR) was left at 3.65%, while the five-year LPR remained unchanged at 4.30%. The […]

The International Monetary Fund is not the only option for countries in desperate need of funding. The Financial Times recently reported that China has been sending out tens of billions in secretive “emergency loans” to countries facing financial hardship. China and others have been known to invest in emerging or struggling economies, but China seems […]