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USDPLN
U.S. Vice President Mike Pence’s visit in Poland is a double-edged sword. His visit commemorates Poland’s first election since the fall of communism three (3) decades ago. Along with this was NATO’s (North Atlantic Treaty Organization) 70th founding anniversary. NATO liberated former soviet satellite states following the defeat of the USSR (Union of Soviet Socialist Republics). In line with the visit were the two (2) countries signing of 5G pact, which tightened requirements for foreign 5G infrastructures. This had pushed U.S. influence in the middle of Central Europe. Its economic powerhouse, Germany, on the other hand, has been in China while the U.S. is lobbying EU-member states. A divided Europe will weaken the Single Currency, which in turn will affect EU countries not using the Euro, like the Polish zloty. America’s signing of the 5G pact with Poland on the other hand, will boost U.S. Dollar.
USDSEK
Green movement is rising in Europe, particularly in the European Parliament. This was amid the rising climate change across the world. Recently, European countries experienced the hottest temperature in years, while the Arctic and Antarctic regions’ ice was melting at a fast pace. This led in an increased support to Sweden’s teen activist Greta Thunberg. She visited U.S. Capitol this week to pressure President Trump after his withdrawal from the 2015 Paris Agreement. Despite this, however, it will be harder to pressure countries who already withdraw from the agreement compared to the ones who are not. The movement is expected to change European politics, with some MEPs expected to pressure Sweden over handling the teen activist. This might lead to some MEPs planning to cut budget for Switzerland, which in turn will affect the Swedish Korona.
USDZAR
South Africa used to be the target of racist hatred, now they’re become the haters. The government of President Cyril Ramaphosa is pressured to acknowledge the xenophobic attack on immigrants from countries who aided the country during the darkest days of apartheid. This had made South Africa an international embarrassment with people from the rural areas chanting “Foreigners must go, they must go back.” This is expected to affect South African economy who’s already suffering from an economic slowdown. South African economy sank 3.2% in the first quarter, while recovering in the second quarter after it grew 3.1%. This reflected in a surge in the U.S. Dollar against the South African Rand in the second quarter of 2019. America and SA are currently at odds, with South Africa shifting its alliance from the U.S. to China. The country had already loaned billions of Chinese Yuan from China.
USDRUB
Russian President Vladimir Putin is trolling the United States as he offered to become the “peacemaker” between Saudi Arabia and Iran. This was amid the attack on oil facilities in Saudi Arabia this week which plunged the country’s production by 50%. Yemen terrorist group acknowledged the attack, but based on the kingdom’s investigation, it found out that Iran was behind the attack. Iran and Saudi Arabia has been at odds since for decades, which had led to several proxy wars in the Middle East. Russia said Iran and Turkey, who bought Russian S-300 and S-400 missile defense system, should be followed by Saudi Arabia to defend any kind of attack to the country. The U.S. has been supporting Saudi Arabia’s military equipment to protect its interest on oil. Saudi Arabia is the largest oil exporting country in the world, while the United States is the largest oil consumer in the world.
