Stock Market Sell-Off, Update Aug 5, 2024

Markets continued the sell-off early this morning and are now starting to rise slightly. Was this a spike low today, or will it continue...

Bank of Japan raised raised, to help save the Yen, which is leading to the Yen carry trade unwinding and can help explain this sell-off in the overall markets, but this is probably not the only factor. I am hoping to have an FX guest on my YT channel discussing the Yen and the Peso, later this week.

Mex Peso, after breaking to about 20.20 this morning, it is now at 19.62... this could be an area of resistance, but it brings the trading range to a higher level, the new range to me looks to be about 18-20 now. The recent low was about 16.30 and is now at 20, this is about a 20% loss on the peso since April. So, it is now cheaper to buy Real Estate, Mexican Bonds, and the Mex Stocks...

But I would wait as the Dollar could continue to rise not because of any intrinsic value in the dollar rising, but because there is a flight to safety and the treasury market is very liquid. The Yen carry trade unwinding could continue, and overall market uncertainty going into the elections is also a major factor for the dollar's strength.

Commodities like Oil and Gas sold off too... Gold is holding up at $2388, but is off highs from Friday.

Sadly with everything selling off, the Dollar is the benefactor...

Latest Video Interviews and YouTube Videos...

I had the pleasure of Interviewing Versan from Black Swan Capitalist and we discussed the Central Bank's plans for adopting the Crypto Space and XRP for the new payment system and a few other topics...

I also got to Interview Jesse Day from Commodity Culture and we discussed Gold, Silver, Uranium, and Bitcoin... Will Digital Commodities be a real thing, I think so. Watch this informative video...

I also created a video about how Socialism destroyed this country's economy, they had 23 Million percent inflation over 3 years between 2016-2019, and yet the President managed to win the recent election. I also share tips on how to protect yourself in an inflationary environment...

This Tuesday afternoon I am hosting a Webinar with Berna González from Actinver about Banking and Investing in Mexico, here is a link to the description and how to participate in the Webinar...

I hope you enjoyed this update, and have a great week...

Vin - Editor of the Financial Liberties Newsletter.