Forex Top Team

The euro’s topside is heavy due to the accession to Finland NATO, and the US dollar continues to rise. ForexTopTeam Weekly Forecast 16 in May, 2022

-11,737 USD in a week With Discretionary Trading 14th in May 2022

I can’t ride the waves well, and it ends with a negative balance.

The US dollar was bought heavily and the dollar index rose to 104 units. This area was as expected, but the big miscalculation was a big buyback of the Japanese yen. The dollar-yen pair has also plummeted from the 131-yen level to the 127-yen level.

In the future, although the US dollar will continue to be strong, the Japanese yen will resist the 131-yen level of the dollar yen, and I think it will be easier to make adjustments due to oversold.

Therefore, in the future, I plan to move away from the Japanese yen, which is difficult to understand, and go to buy the US dollar with other currency pairs.

Attention after the 16th is the following two points

  1. Finland, Notification of NATO membership to Mr. Putin Russia suspends power transmission

According to AFP news agency, Finnish President Sauli Niinistö had a telephone conversation with Russian President Vladimir Putin on the 14th and announced the policy of joining the North Atlantic Treaty Organization (NATO). Regarding the reason, Russia’s invasion of Ukraine “has fundamentally changed the situation surrounding Finland’s security,” he said. “There is no security threat to Finland, and the abandonment of traditional neutrality is a mistake,” Putin argued.

(Source: Bloomberg)

Retaliation measures were taken against the movement to join NATO, which further heightened tensions, and it is assumed that the EUR will continue to develop strong selling pressure.

However, as Britain has agreed to strengthen security with Finland and Sweden in preparation for Russia’s progress, it will be difficult for Russia to take military action.

  1. President Biden is considering reducing import tariffs-to curb high inflation

US President Joe Biden said yesterday that he is discussing with his presidential advisers whether to reduce import tariffs to curb inflation.

“We are discussing it now,” Biden told reporters after his speech on high prices at the White House, “I think it’s likely to have the best impact.” He added that he just hasn’t decided how to proceed.

President Biden has maintained most of the tariffs introduced by former President Trump, including tariffs on imports from China worth about $ 300 billion (about 39 trillion yen). However, as inflation reaches its highest level in about 40 years, some economists, lawmakers and the US Chamber of Commerce are calling for tariffs to be reduced or eliminated.

(Source: Bloomberg)

This tariff cut could help the Chinese economy, which is currently stagnant due to the lockdown by Corona, and support the global decline in stock prices.

It is assumed that it will be implemented because it has merits for both the United States and China. Pay attention to the trend of tariff rates.

P.S.

Well, in fact, I have never bought a car in my life. By the way, I don’t even have a driver’s license.

Basically, I think of a car as just a means of transportation and I’m not interested in driving, so I use a taxi if necessary. This doesn’t change when you don’t have money or when you don’t.

Of course, if you live in a place where you absolutely need a car, or if you are interested and love it, you may want to own it, but if you own a car because you have it around you, , There is a high possibility that you are losing money, so it is recommended that you reconsider once.

It costs about $5000 USD per year to maintain a car, and if you consider the purchase cost, you probably pay more than $10,000 per year.

Especially if you don’t have the money to invest or try something new, you should consider paying these extra expenses every day.

If you can allocate wasted money for the future, you will end up with more assets and a more enjoyable life.

Have a nice weekend.

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