Deepin Moments: 71 Countries De-dollarize, Saudi Arabia Sells off 35%, Israel Dump 20%, Japan Dumping 12%


Deepin Moments
Oct 28, 2022

Recently, the latest report released by the U.S. Economic Consultative Bureau on October 25 EST showed that the U.S. consumer confidence index recorded 102.5 in October, the lowest reading since August, significantly lower than the market’s expectations of 105.9 and down 5.3 percentage points from 107.8 in the previous month.

Not only that, the consumer current situation index also fell sharply to 138.9 from 150.2 in September, and the index measuring consumer expectations for the next six months also fell to 78.1 from 79.5. Data on the U.S. manufacturing sector was also sluggish, with the Richmond Fed manufacturing index registering -10 in October, a new low since May 2020. In addition, the U.S. economy grew negatively for two consecutive months in the first and second quarters of this year, and shows no signs of turning around. It’s safe to say the dollar has lost its hegemony!Show less


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