Obsidian Market Update 7/22/2022
Hello friends!
This week, we’ll take a look at how the US dollar is doing (good news! mostly!), and then kick our appetites into gear with some of the summer’s top food trends.
The US dollar is strong right now, thanks in large part to the Federal Reserve’s actions to curb inflation. Raising interest rates has made the US more appealing to investors, so those inflows are one reason the value of the dollar has increased on a global scale.
This is good news for several groups, including American tourists overseas–perhaps a nice balance to more-expensive-than-usual airfare. Businesses that cater to American adventurers will also benefit as the tourists spend more money. This also lowers the prices of imports to the US, which is one of the Fed’s major goals, so the Fed wins, too.
Of course, where there are winners in capitalism, there are also losers. European and debt-ridden countries will see the opposite effects in some ways. Their imports will be more expensive, and because their currency will be weaker compared to the dollar, it will become much more difficult to pay off debt. American multinationals may also lose some profits as their goods become more expensive and thus less competitive.
In response to this, other countries might also raise their interest rates to align with the Fed and regain the value of their own currencies. As always, we’ve got our eye on anything that affects your financial plan, and call us if you have questions.
Whether you’re taking advantage of the USD’s strength and traveling or staying home this summer, if you’re like us (always hungry and up for trying new things), we thought you’d enjoy learning about the top food trends of Summer 2022. What is your favorite from the list?
- “Swicy.” You guessed it: sweet and spicy. If you love hot honey, this is the food trend for you. Sweet and spicy cashews, hot honey mustard, Thai krapow–the list goes on.
- Retro snacks. You may have noticed that the 90s are back with high-waisted jeans and peasant blouses, but we’re also seeing “newstalgia” in the return of classic snacks with a contemporary twist.
- More s’mores. If you’re a fan of this decadent campfire snack, you’ll be thrilled to see that s’mores flavored everything is everywhere.
That’s it for us this week. Eat something delicious this week, and we’ll be back in your inboxes next Friday.
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