Interbank Market News Scan: Yen value against the dollar decreased while spreads tightened…

The Stats … Currency pair 22 May 2023 23 May 2023 24 May 2023 25 May 2023 26 May 2023 … More

The Interbank Market News Scan: I expect the euro to continue dropping throughout the day… 8:45 AM EST

Looming in the background is the negative impact a slowed down economy will have on the Biden Administration and to a lesser extent the incumbents in the Congress. As the Biden Administration and the Congress negotiate the debt ceiling, there is the threat that fiscal policy in the form of higher taxes may be offered up as a way to shore up lacking tax revenue. This will also put a crimp on household and business spending.

Interbank market news scan: Most of us are digital serfs. Some of us will learn to trade.

The upside for the “knowledge worker” is that if she plays her cards right, she can go from being a digital version of a tenant farmer and trade her own coin. She has the research ability and given the digital tools that she likely helped develop, she can identify opportunities for trade and actively enter the markets. This is why I shed no tears about engineers being laid off from Facebook, Google, or Twitter. You have the digital skills and the severance pay to become traders.