Crisis: Don't we care? - page 23
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Fuck that index. It does not meet the demands of a speculative trader working with exotics. Different currencies are taken into account depending on their weight in the US economy, and the trader does not care about it, if he wants to catch a powerful trend in Kiwi, for example. The kiwi does not affect the index at all, but it is traded as well.
this is the symbol for the nikkai index contract
and the quid index has the following formula
USDXt=50.14348112 x (EURt)-0.576 x (JPYt)0.136 x (GBPt)-0.119 x (CADt)0.091 x (SEKt)0.042 x (CHFt)0.036
What is SEK doing there? Is it a Nobel Prize Bonus?
is not boring, what is SEK doing there? Is it a Nobel Prize Bonus?
The calculation of the Dollar Index (USDX) by a basket of six currencies is not accidental - it matches the data used by the US Federal Reserve in calculating the trade-weighted dollar index by the currencies of those countries which form the main US foreign trade turnover. The Eurozone accounts for most of US international trade (57.6%), followed by Japan at 13.6%, the UK at 11.9%, Canada at 9.1%, Sweden at 4.2% and Switzerland at 3.6%.
Probably means that the yen is appreciating even faster than the buck. That's Mizuha, the Japanese bank.
This appreciation is not infinite.
Japan's budget revenue is 80% exports and an expensive yen is a huge disadvantage for exporters,
as their products become more expensive for customers. In such cases the central bank of Japan has often used currency interventions.
It was quick and decisive, than it brought the rate of national currency to the desired level.
However, it is a long time since such interventions took place. But you have to be prepared.
It is understandable that the exchange rate should be in a corridor (by the way, it is now close to its lower wall). And the interventions seem to have short-term effectiveness.
I saw it many times in 2003-2005 (while I was trying to trade with my hands) ...... there was a very typical graph of the yen. They were intervening very often back then.
Watched it, and repeatedly in 2003-2005 (while trying to trade with my hands) ...... the yen had a very distinctive graph there. They were intervening very often back then.
+1 :-)
It is understandable that the exchange rate should be in a corridor (by the way, it is now close to its lower wall). And the interventions seem to have short-term efficiency.
Well, what is the purpose of such interventions? If the market inertia does not go where it needs to go, they will inject more and will continue to do so until the desired results are achieved...
This is where the crisis is :)) http://weblinks.ru/blog/no-comments/1482.html
Are you still worried about the economic crisis?
The crisis, the crisis. Nowadays, when they talk about the crisis, you immediately think of "the US, the EU, the RTSS, the dollar, the rouble, the euro, banks, mortgages" and other clever words. Before, for some reason I immediately thought of Zimbabwe. Yes, yes, Zimbabwe. You can see what a real crisis is like there. If you are too lazy to look at the pictures, then look at the last one and you will understand exactly what a depreciated money is.
So there you have it. The crisis started in 2000 after President Mugabe took lands from whites and gave them to blacks. Immediately the entire agricultural sector collapsed, sanctions were imposed on the country and inflation started. This year, inflation stood at a record 231 million per annum. Do you understand that number? 231,000,000% a year. Unemployment is 80%, a third of the population has left the country. Now let's look at some pictures that you are unlikely to see in other parts of the world.
Here's a beggar boy getting some change last December. The notes are 200,000 Zimbabwean dollars each.
The little millionaire. One such note is about 10 cents. The official rate is many times higher, but no one exchanges it.
On 22 December, a Zimbabwean $500,000 note appeared in the country.
Then it was 750,000.
In mid-January, 10 million.
Multi-millionaire
This $10 note is worth 10 times the Zimbabwean $10,000,000 note.
And this is February. Now beggars are being given not just 200,000 each, but whole bundles of 200,000 notes.
Local billionaire. The briefcase contains 65 billion Zimbabwean dollars. And that's only 2,000 American quid. That was in March.
The man goes to the supermarket. It's March again. The exchange rate is 25,000,000 Zimbabwean for one American dollar.
That pack is worth 100 quid.
In April, the government thought "walk the walk" and issued a $50 million note.
But inflation has not stood still. In May, the $250 million note appeared.
Shop prices. Nearly 3 billion for a T-shirt or trousers
In mid-May, the $500 million note appears.
But time flies, the economy flies. In June, 25 and 50 billion appears.
And in July, all 100 billion.
What can we buy with them? Well, like three eggs.
So when people started going to restaurants like this...
getting bills like this...
There was no room in the houses because of the piles of cash...
The government came to their rescue by issuing new notes in August, removing TEN zeros from the old ones
But inflation... They forgot about inflation again... In September you could buy four tomatoes for this pile of money.
And for a loaf of bread like this...
And here we go. New notes - 20,000 in September
50,000 a week and a half ago. By the end of the year there is every chance of going back to billions.
And here is the true face of the crisis:
Is it always like this ?... first they come out with a lot of zeros and then the denomination... they cut those zeros... i remember my dad telling me he used to get paid in millions)
I just remember that ice cream cost 2.5K rubles... )
What's that got to do with us and Zimbabwe?!?!? Let them cut the zeros to the exchange rate of 1 Yard (current money) = 1 Tugrik.
If only quid could wipe your ass, yes :-)
P.s. liked the post