For all of the forex traders out there, you’re probably wondering why pairs such as the EURUSD and GBPUSD shot straight up over the past 24 hours.
Well, the ABCs of the foreign exchange market would dictate that the quote price of USD is simultaneously going down while the base price of the other currency is going up. People are selling USD and buying the other currency, to put it more simply.
And that’s exactly what’s happening right now: Due to the United States’ failure to contain the number of new daily COVID-19 cases, the USD managed to reach an all-time low in yesterday’s trading session. If it keeps going down, it is projected to have its worst month since April 2011.
Meanwhile, other currencies saw a noticeable rise in value. GBP was up by 0.5% while JPY was up by 0.7%, and EUR was up by 0.8%, with JPY and EUR achieving some significant highs. I just hope the traders reading this newsletter managed to snag a few hundred pips from this movement. 😉
(If you’re into trading commodities such as gold, you’ll also notice many have made some sharp gains over the past week of trading.)
It’s not just the poor performance of the United States, but how the performance fares COMPARED to other countries around the world. Even though some parts of the globe are experiencing rises in COVID-19 infections and facing the possibility of a second wave, it’s nothing compared to America.
To add further fuel to the fire, investors and traders are uncertain about the exact nature of the second round of stimulus funding set to be applied by the United States federal government sometime next week or later. As one chief market strategist put it:
“The flare-up of the virus means more stimulus, lower interest rates for longer, and therefore less demand for the dollar.”
A bad time to be an American patriot, but a hell of a time to be a profitable forex trader. Such is the game we play in making more money.
What do YOU think about this recent news? Will the USD continue to keep on shrinking in value? Reply to this newsletter with your predictions of what will happen to our currency!
Private Islands: The New Commodity for Ultra-High Net Worth Individuals
Rich elites have been abandoning their cities like sheep since the COVID-19 pandemic started. We’ve heard stories about their escape towards their cottage homes, then select countries, and then their yachts. But some of them are VERY desperate to get as far away from society as possible, which is why their next target appears to be private islands.
Isolated parts of Europe, the Caribbean, Fiji, and the South Pacific are reportedly becoming hot real estate for several of these ultra-high net worth individuals. Other countries with their own little-known off-coast islands include New Zealand, Australia, Canada, and Scandinavia.
We’re talking about islands which don’t span any more than 50 acres of land, and yet they cost multiple millions in Euros.
And here’s the crazy part: Many of the buyers are not even physically relocating to these islands immediately. They’re nothing more than a guaranteed insurance policy if every single option available to them happens to fail.
It’s not enough for the elites to be in rural communities. They only see the COVID-19 pandemic getting so much worse, and they’re ready at the bat for leaving everything behind if the situation calls for it…
Singapore Airlines: Travel + Leisure’s “Best International Airline” for 25 Straight Years
The highly popular travel magazine “Travel + Leisure” runs an extensive voting poll every year to ask its readers about what they think is the best in terms of travel. Hotels, cruises, airlines, islands, cities, cultural events, food, specific activities, gadgets… if it’s even remotely related to travel, there’s a poll for it.
Yet when it comes to the most preferred international airline, Singapore Airlines has always taken the #1 spot ever since the magazine was founded 25 years ago.
What could this airline have possibly done to avoid being dethroned for several decades? According to readers, several factors come into play.
The customer service appears to be completely refined to a T, from the moment you board the plane to the second where you leave the airport at your destination. Many readers have called Singapore Airlines “the one airline I actually hate getting off”.
Other positive points include ultra-spacey chairs (even their economy seats are compared to the business class seats of other airlines), amazing and nutritious food, advanced climate control at your seat, optimal temperatures within the cabin, options for basic stretching and yoga, and so much more.
This is impressive when you consider that Singapore Airlines offers some of the longest flights in the world, lasting as long as 19 hours. You don’t get consistently high ratings for trips that never seem to end without writing the playbook for excellence in flying…
The United Kingdom REALLY Does Not Want People Traveling…
The United Kingdom is about to develop a nasty reputation in the international travel industry for poor communication and seemingly draconian measures…
The ministers of the UK government announced that any travelers arriving back from Spain would now be subject to a 14-day quarantine, reversing their original position. What makes this announcement so sudden is that the changes were implemented just 5 hours later.
This has led to grave consequences for several travel firms offering flights between the UK and other European countries. These firms are proactively worried that a significant number of trip cancelations in France, Germany, Italy will take place. In fact, they’ve recently received numerous such requests for many other countries too.
Even though Spain is officially no longer on UK’s “safe list”, it appears as if no country is immune to this new ruling. The UK government is taking a stance where no travel could possibly be risk-free, and indirectly recommending its citizens to stay at home.
For several travel firms, this could be a major death blow. The little traffic activity they were getting could now come to a complete stop and jeopardize their operations entirely.
600,000 False “Positive” COVID-19 Tests from Just One Misleading Email
600,000 Americans were informed by Tricare – a healthcare program run by the Military Health System of the US Department of Defense – via email that they tested positive for the coronavirus.
The start of the email went like this, which would lead any rational person to assume they had contracted COVID-19:’
“As a survivor of COVID-19, it’s safe to donate whole blood or blood plasma, and your donation could help other COVID-19 patients.”
There’s just one problem: NONE of these individuals have ever been tested for COVID-19. The mistake arose from accidentally sending the email to any beneficiary located close by to a military institution collecting blood from recovering COVID-19 patients.
Sadly, this isn’t the first time a healthcare organization has made this type of mistake during the coronavirus pandemic, and it appears as if it won’t be the last. Just another reason why many Americans have an all-time high level of distrust for the medical field.
Have YOU encountered a situation like this recently? If so, reply to this newsletter and tell us all about it. We want to know just how common this type of thing is happening!
The Bahamas Ban on American Travelers Is Increasingly Unclear
The Bahamas government initially allowed American travelers to visit their islands. Then, they banned them outright due to several COVID-19 cases coming from American tourists. And in a very recent news update, they’re reversing their decision almost entirely.
What exactly caused them to change their mind so suddenly is unclear to us. International travel experts speculate a combination of social and economic reasons, but their incredibly high reliance on tourism for economic prosperity may be one key factor.
So here are the new criteria for ANYBODY coming to the Bahamas: Quarantine for 14 days upon arriving, stay in a government-run facility that is paid for out of the traveler’s pocket, and then get tested for COVID-19 when the 14 days are up.
According to government officials in the Bahamas, they wanted to create a uniform standard which would be applied to all international visitors. Rather than allow visitors from other countries while excluding others.
While I agree with the principle of what they’re doing, I doubt it will be effective. I can bet a good amount of money that people traveling to the Bahamas will NOT want to spend the entirety of their getaway in quarantine.