Halloween Leads Hong Kong Recession
It’s the best season for Hong Kong revelers and the worst for its leaders. Halloween brings economic recession, and the protests will make sure there is no end in sight.
AUD/HKD slipped 0.11% at $5.3749, one of the first signs of the city’s economic recession. The HKD/CNY pair slid 0.14% at $0.9000 as the latter chose not to get involved in the city’s crisis.
Meanwhile, HKD/KRW inched up 0.04% at $148.965 when North Korea rejected the South’s offer for joint tourism facilities.
Hong Kong ex-leader Leung Chun-ying denied the city’s involvement in global economic decline.
Chun-ying said most of the arrested protesters were below 18. He blamed the internet for empowering the minors, saying Hong Kong was “enjoying a unique autonomous status” before the protests.
He went on to describe how some protesters disrupted government operations. The participants threw petrol bombs, blocked transportations, including airports and trains, therefore cutting off their “normal functions.”
The city’s leaders issued a mask ban earlier this month, but Halloween celebrators put the law to the test. Reports claim Hong Kong protesters can take advantage of the holiday with frightening costumes.
Consequently, riot officers would demand them to remove their masks to confirm their identities. If they fail to do so, the force will consider it an offense.
Forex Markets Anticipate Halloween Progress
Global investors hold their breath as they wait for the most important meetings of their lives. Halloween season is in town, and it will change our economy forever.
The Bank of Japan began a two-day meeting today with expectations to cut inflation forecasts. If the bank announces its approval, the act will pressure them to stimulate the economy further.
US investors expect the Federal Reserve to cut its interest rate for the third time this year. Reports focus on Fed Chairman Fed Powell’s comments on resuming organic balance sheet growth.
The House of Lords will debate on approving the Early Parliamentary General Election Bill today. The bill, if passed, is the final stamp for the December 12 UK election.
Markets idly waited for these pre-Halloween surprises to arrive, and now they’ll enter all at once.
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