Commentary One of the most important disciplines in investing, whether personally or professionally, is to look back on investments made and take stock not just of how they performed but why. What decision-making or other avoidable errors led to bad outcomes? What lessons can be learned so that any future mistakes are new and better…
Saudi Arabia Considers Global Trade in Non-Dollar Currencies
Saudi Arabia, the world’s largest crude oil exporter, is considering trading in currencies other than the U.S. dollar, a kingdom official revealed. Mohammed Al-Jadaan, a Saudi minister of finance, told Bloomberg TV in Davos, Switzerland, on Tuesday that officials are open to potentially utilizing other currencies as the energy juggernaut bolsters relations with its strategic…
Egypt to Develop New Currency Indicator to Wean People Off US Dollar
CAIRO—Egypt will develop a new currency indicator partly to wean people off the idea that the Egyptian pound should be pegged to the U.S. dollar, the new central bank governor said on Sunday. Hassan Abdalla, appointed in August, told an economic conference that the central bank was also working to introduce currency hedging and had…
US Treasuries Post Record Foreign Inflows in August: Treasury Data
NEW YORK—Foreign inflows into U.S. Treasuries posted a record in the month of August, data from the U.S. Treasury department showed on Tuesday, as investors speculated about a pivot by the Federal Reserve away from aggressive tightening. Data showed that foreign investors poured an all-time peak of $174.2 billion into U.S. Treasuries, up from $23…
Gold Plunges to a 30-Month Low on a Strong US Dollar
The price of gold fell to a 30-month low on Sept. 26, due to the growing strength of the U.S. dollar and rising Treasury yields against foreign currencies. This comes amid further prospects of aggressive interest rate hikes by the Federal Reserve and other major central banks in their fight to defeat inflation, causing gold prices…
Steve Forbes Says Biden Administration Ignoring ‘Real Cure’ for Inflation
Steve Forbes, chairman and editor-in-chief of Forbes magazine, has claimed that the Biden administration and the Federal Reserve are ignoring the “real cure” of inflation and are instead placing their attention on raising interest rates. Forbes made the comments at the Forbes Global CEO Conference in Singapore on Monday, CNBC reported, shortly after the U.S. central bank raised its…
The Fed Just Predicted a Fairly Lousy Economy—and the Markets Noticed
September 22, 2022
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Commentary The Federal Reserve (Fed) announced on Sept. 21 that it raised interest rates by 75 basis points (bps), or three-quarters of a percentage point. The decision came a day after the Federal Reserve Bank of Atlanta dropped its much-watched estimate of third-quarter 2022 GDP (“GDP Now“) to just 0.3 percent on Sept. 20, after…
China and Russia—With Help From Biden—Attack the Dollar
August 12, 2022
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BRICsChinafree convertibilityJoe BidenOpinionrenminbireserve currencyRussiaThinking About ChinaU.S. dollarViewpointsyuan
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Originally published by Gatestone Institute Commentary “The issue of creating an international reserve currency based on a basket of currencies of our countries is being worked out,” said Vladimir Putin in June, at a meeting of the BRICS—Brazil, Russia, India, China, South Africa—grouping. Russia and China have launched another attempt to develop a “new global reserve currency.”…
A Strong Dollar Is Wall Street’s Newest Scapegoat for the Drag on Profits
July 20, 2022
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Leaders on Wall Street are beginning to complain on their corporate earnings calls about the strong U.S. dollar being a drag on profits, especially regarding foreign markets. The U.S. dollar has made gains against many of the major global currencies over the last few months, and is hitting its highest level since 2020 as the…
IBM Beats Quarterly Revenue Estimates, Warns of $3.5 Billion Forex Hit
IT hardware and services company IBM Corp beat quarterly revenue expectations on Monday but warned the hit from forex for the year could be about $3.5 billion due to a strong dollar. A hawkish Federal Reserve and heightened geopolitical tensions have driven gains in the dollar against a basket of currencies over the last year,…
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