Debt limit optimism and decent data are nibbling away at the pricing of Fed rate cuts and dollar shorts are feeling the squeeze. It’s “just a correction” but it’s painful all the same. Joe Biden, the US President, called the bipartisan offer from House Speaker Joseph McCarthy “unacceptable.” The risk that the US government fails to make its debt payments by June 1 grows The first real US government bond payment default risk falls on June 6th. Without a debt ceiling resolution, the US government could place the global financial system in ‘shock’ as soon as June 6th. If not before.

President Joe Biden and Republican leaders have expressed cautious optimism that a deal to raise the US debt ceiling is within reach, following emergency talks at the White House. Without a deal, the US could enter a calamitous default on its $31.4tr (£25tr) debt as soon as 1 June. A failure by the US government to meet its debt obligations could trigger global financial chaos. The Democratic president said Tuesday’s hour-long Oval Office meeting was “good, productive”, sounding upbeat about the prospects of an agreement. Mr. McCarthy said afterward he believed a deal was possible by the end of this week. In exchange for support for raising the debt ceiling, Republican leaders are demanding budget cuts. They also want tougher work requirements for government aid recipients. Published on 24/05/2023 By Michael S.  

          Since the inflation has eased yet remains rising, additionally, Russia’s war in Ukraine isn’t impacted much but causing the global uncertainty mentioned by FED.  In its Feb. 1 policy decision, the Fed raised the target range for benchmark interest rates by another 0.25%, setting the range at 4.5%-4.75%, the highest since 2007.         With unanimous voting in favor of the rate increase, FED policymakers mentioned in a policy statement that “ongoing increases” in interest rates will likely be appropriate to obtain a monetary policy stance that is “sufficiently restrictive” — in effect countering the recent easing in financial conditions that has resulted from higher stock prices and a moderation in rates for Treasuries and other bonds.         Meanwhile, Thailand’s finance minister, Arkhom Termpittayapaisith, mentioned that Thailand’s interest rate has been reasonably adjusted, and raising too much will sharply drag down the economy which is getting better. Even the private sector said the baht was too strong, “but it’s not very strong,” and “The baht is strengthening on the fundamentals

          Since Russia was threatened to be boycotted by the western, Russia plans to cut its oil production output by 500,000 barrels a day in March. This movement caused sharp increasing oil prices.         Regarding the Russian announcement, Oil Market has been turmoiled causing disruption to the Russian demand. It further tightens supply constraints from OPEC+, which Saudi Arabia had already led into a 2 million barrel-a-day production cut last year in an effort to buoy prices. Delegates from the group signaled they won’t take any action to fill in the gap created by Russia.          Russia’s reduction is equivalent to about 5% of its January output. The Kremlin has repeatedly hinted at such a move since the European Union and the Group of Seven industrialized countries began discussing capping the price of Russian crude and refined product exports amid the war in Ukraine.          “Russia believes that the mechanism of price caps on Russian oil and petroleum products is an intervention in market relations and an

          On 1 February 2023, A 2-year mark the Myanmar military initiated a deadly coup, ripping the country out of democratic transition. Mobile payments have become more common use in Myanmar after a severe shortage of cash pushed consumers to explore digital alternatives.           Since last year, the regime has frozen the bank accounts and mobile money wallets of people who give financial support to the anti-coup resistance. Subsequently, The military junta maintains command of Myanmar’s banking system to keep a complete record. It has imposed increasingly authoritarian rules on either transferring or receiving mobile payments to keep personal information through its mobile wallet apps.           The military government is supportive of this shift. At a January meeting with electronic payment companies, the Myanmar central bank called for reducing the use of cash and promoting the use of QR codes and payment apps. Currently, Some are now avoiding mobile payments altogether, fearing attention from the authorities. Published 10/02/2023 By Ashley Jones

          On Friday, 20 January 2023, The Bank of the Lao PDR (BOL) issued a statement that stated further measures to restrain the depreciation of its currency. In addition, the notice states demanding that 113 exchange businesses affiliated with the 6 commercial banks temporarily suspend their operations as well as revoke the business licenses and instruct the banks to discontinue their contracts with these businesses. BOL will now proceed to close the deposit accounts of registered currency exchange businesses that worked with commercial banks. Exchange businesses have been urged as well to return any contracts or agreements to the Department of Monetary Policy or the relevant departments of the BOL by 31 January. In accordance, The individuals or entities must first obtain the proper license from the central bank for the purpose. Moreover, the exchange businesses for the tourism or hospitality industry are only allowed. This was done to control the exchange rates of foreign currencies within the country. Published 02/02/2023 By Ashley Jones