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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 23, 2023
——–The Currency Korner——–

The Way I See Things

Volume 2 Issue 4

“As my awareness increases, my control over my own being increases.”                                                                                       – William Schultz

Good morning,

As a kid growing up in the ’70s, there was a popular song called The Age of Aquarius. It was a cool-sounding tune, as I would pay little attention to the lyrics because it came out during the time of hippies, free love, experimental drugs for recreational purposes and an era that gave inspiration to Mike Myers to create one of the best series ever, Austin Powers. Nonetheless, we have entered this realm of Aquarius of which astrologers would state the following will occur;

  • Kindness, honesty and peace are the rule rather than the exception
  • Everyone is respected and cared for and differences are celebrated
  • The whole world is united in common goals
  • Spiritual wisdom is the shared ideal

It’s all about making the world a better place. Witnessing strong social conscience, combined with an innovative, visionary intelligence that can dominate our world.

At the present time, it seems we are far away from any of the above becoming reality. We have a World continuing to beat the drums of war as the Military Complex is bent on bringing destruction while reaping untold $Billions from the unassuming Taxpayer. We have an environmental disaster occurring in the USA, specifically Ohio, while a President abandoned his responsibilities to funnel more money to Ukraine when attention is needed at home.  Concerning, Canadians is that the toxic clouds could be blown into our airspace just like those naughty balloons. Is it more fear-mongering to create hatred against a people, to eventually justify war?

This morning Real GDP for Q4 came in at 2.7% as the markets expected (2.9%) in America. Definitely a disappointing result as people are becoming cash-strapped in an ever-increasing hostile economic environment.  Interest rates, rising are taking whatever remaining income to service debt. There are many in positions that have seen their payments double, for others even a small increase per month could be devastating. Unfortunately, for many caught in the cash crunch, there are no options, other than borrowing more or selling out. The Federal Reserve just mentioned that they expect rates to rise by 0.25% in both March and May. There are those choosing not to eat quality food or letting medical issues go unattended, simply have no choice. This could put long-lasting Institutions in jeopardy for their own survival. There will be an awakening because you cannot continue printing money without major consequences.

In Canada, the Inflation rate slipped to 5.9% in January vs (6.3%) in December, despite grocery prices rising even higher. Of course, the increased food costs are being blamed on the rising tensions with Russia. Yet, I would say where are the peace negotiations? It seems some people in this world are looking for an escalation through provocation rather than calming the tension. It is just incredibly idiotic that countless lives could be lost for what purpose?

Meanwhile, the USD Index surpasses the 104.50 level, a sign of strength not brought on by any economic achievement but somewhat improved by the fear of the unknown setting into the markets. To our dismay, we have no control over the decisions being made unless people worldwide rise in unison. Lastly, Oil dipped below the $74/B earlier this week, (a key factor in reducing inflation) but regains momentum heading toward the $76/B level. On the other hand, Precious Metals and other commodities continue to come under pressure with the facade of a strong USD. Gold stands around the $1825/oz level and Silver in the $21.50/oz vicinity. A buying opportunity? The USD looks vulnerable especially once the Federal Reserves policies reverse. It will be the people demanding change and then the Age of Aquarius will rise and life will come back with meaningful worthiness!

https://www.youtube.com/watch?v=ajgeaOt_HTQ

 

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!!!!

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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