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The Currency Korner        
By -The FX Specialist-
Philip J. Magnoli

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FX Specialist Insight
-brought to you by Philip J. Magnoli
 An expression of thought; February 9, 2022
——–The Currency Korner——–

The Way I See Things

Volume 2 Issue 2

“Prosperity is a way of living and thinking, and not just money or things!”   – Eric Butterworth 
 

 
Good morning,

The other day, I recounted a story of the experience of terrifying nightmares I had as a child. Sleeping in my own room I was very restless, often waking up with blankets on the floor after doing flips in my bed. The same flips I did as a football player in high school after dislocating my wrist in a game. People told me I could have won a gold medal in gymnastics at that time.

My dreams consisted of Evil people dressed in black with their faces covered. They broke into the house looking to take us away. Shivering, with no blankets covering my body, I was terrified to open my eyes as my thought process said if I can’t see them they sure couldn’t see me. The only way to protect oneself was to hide under a table but getting there was going to be next to impossible.

My only salvation was the break of day as rays of sunshine would beam through the window to bring light into the darkness and fill me with the hope that all would be fine again. I couldn’t wait for my parents to come downstairs and when they did, I hugged them, never wanting to let go. Yes, I had to sleep with the light on for a while but the comfort of seeing the light gave me hope that I would be fine and feel protected.

Speaking of hope and protection in a financial sense, we have entered the year 2022 with many pending uncertainties. A transformation of economies and individuals riddled with deficits is threatening the very fabric of our daily lives. Coupled with a Pandemic, restrictions within societies, on a global scale and inflation driving the cost of everything through the roof, many are finding it difficult to maintain the standard of living that they have been accustomed to. For a majority, many have dipped into debt to maintain their lifestyles.

Hope in the form of changes is coming. Knowledge is the key to understanding and while more are witnessing history in the making the outlook of change will bring welcomed prosperity once we get to a level of normalcy.

Despite the past week which showed devastating results within the Canadian Economy improvement will come once common sense prevails.  The Unemployment rate rose to 6.5% from (6.0%) expected (6.2%) and Canada’s International Trade Balance expected a Surplus of $2.5Billion, which surprised with a deficit of $0.14Billion. These results gave credence to the weakness in the Loonie by plunging below the 0.78 cent level despite the strong price of Oil. 
Meanwhile, Non-Farm Payrolls in America beat expectations and came in at 467k expected (150k) but less than previous (510k). The Unemployment rate rose to 4.0% vs expected (3.9%). Yet something very strange occurred, the ADP report measuring Private Sector Employment lost <301k>. Almost a mirror image of gains in the Public Sector that were lost in the Private sector. Numbers always have to be viewed with a grain of salt with proper analysis and questions need to be asked.

As the war drums beat and the Fear mongering continues, the USD strengthens as the Index maintains the 95.50 level. Precious Metals remain buoyant with Gold eclipsing the $1830/oz level and Silver above the $23/oz level for the first time in a while. After Oil tested the $91/barrel range a little profit-taking brings us toward the $88/barrel level as diplomatic efforts are supposedly trying to avert hostilities from accelerating. The Candian Dollar is now above the 0.78 cent level for the time being.
Nonetheless,  I am hopeful that the World will see the light and bring prosperity to all those deserving. The Evil will be held accountable and humanity will triumph for the benefit of families and people in our world! Love conquers all!

Pass it on as I am always available to provide the most advanced foreign exchange services and knowledge, efficiency, expertise and above all integrity. Referrals are welcomed and very much appreciated.
… Don’t Forgetta bout Me!!!!
.The Don of a New Day!

Foreign Exchange Service is my Specialty.
Direct# 416-992-7765

Contact Me Direct via email at phil@aloris.ca

Don’t Forgettaa bout Me!!!!

Sincerely,
Philip Magnoli – The FX Specialist-

Direct:     416-992-7765 
Email:    phil@aloris.ca          

Opinions expressed within are that of the author alone and do not reflect in any, way, shape or form, any Company I choose to associate myself with. This is the intellectual property of Magnoli Financial Services Corp. www.donfilippo.ca 

 

 
 
 

 
 
 

 
 
 

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