FTAlphaville: Busting currency pegs, Saudi Arabia edition
Unlike China, Saudi FX reserves are twice the size of the money supply. Devaluation is unlikely unless this is The Big One, but this does show the pressure in the global financial system and the demand for U.S. dollars.
Australian consumers are on life support
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The situation facing working Australian households is bleak. Australian
real per capita household incomes collapsed by 6.0% in 2023, the sharpest
decline...
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