Saturday
November 26, 2022
Hello everyone,
We are now into post-Thanksgiving and onto scanning the special Black Friday deals which last throughout the weekend and into Cyber Monday.
As most people’s attention span is fairly limited these days, I’m going to provide a summary of newsworthy topics.
In keeping with sport mad Australia, we must mention the Socceroos defeat of Tunisia 1-0. Now they are into the 16th round. 12-year drought broken. Next, the Aussies play Denmark. Argentina defeated Mexico today 2-0.
Wallets were opened on Black Friday with consumers shelling out a record $9.12 billion in online shopping. Online sales were up 2.3% year-over-year. Buy Now Pay Later payments increased by 78% compared with the past week as consumers continued to come to terms with high prices and inflation.
Some of this year’s hottest items include gaming consoles, drones, Apple MacBooks, Dyson products, and toys like Fortnite, Roblox, Bluey, Funko Pop!, and Disney Encanto. Cyber Monday is expected to drive $11.2 billion in spending. Up 5.1% year-over-year, according to Adobe.
Leading up to Christmas and into the early New Year, the market is likely to rally. However, we may get a short-term pullback before a move higher.
The U.S.$ will most likely continue to fall.
Silver and Gold will continue to rally.
Bitcoin will continue to fall.
By mid-January, the market may take a breather.
It looks like the Australian banks and FTX did not have a close relationship, thankfully. Crypto will be out of favour for a time but will never completely go away. We are waiting for Bitcoin to reach a new low in the next couple of years before it eventually starts to regain a solid foothold and slowly climb higher.
Wishing you all a wonderful week.
Cheers,
Jacque
The purpose of our lives is to be happy. - Dalai Lama
