Forex Trading, the buying and selling of currencies has long been considered a game played by a handful of countries with strong financial stability and stronger currencies, such as the United Kingdom, the United States, the UAE, and even Singapore. However, recent reports have painted a very different picture: most forex search acts use the world’s smaller economies.

While this doesn’t mean that they are engaging in forex trading, it does mean that the interest is there and with a little fostering and some education, the forex economy would bloom. Such is the case with Thailand.

Attempting to gain financial independence through forex

As a country with cheap labor and few job opportunities, forex trading is gaining widespread attention as natives gain more insights into the world of forex via social media and the Internet. There are countless TikTok videos on how to become financially independent through trading, specifically forex trading, and these unconventional—but previously inaccessible—ways of making money are generating lots of interest, especially with the younger generation.

The Internet creates accessibility for Thai nationals interested in forex.

Without the rise of smartphones and data plans, forex might not have reached such levels of interest in Thailand. Aside from how information regarding trading opportunities is peddled through social media, the Internet has also created a platform for accessible trading. Thai nationals are able to source international brokers and global platforms instead of relying on national institutions that do not offer support for forex trading.

Thatn’t I forex supported in Thailand?

National institutions don’t support Forex trading in Thailand that don’t support Forex trading in Thailand. There are currency restrictions. In 1977, during the Tom Yum Kung crisis, the country’s mismanagement of the Thai baht caused a withdrawal of foreign investments due to trade deficits.

However, hope is not all lost. As mentioned above, social media is a means for local residents to learn more about their options and finding a reputable โบรกเกอร์ forex broker is by no means impossible. In fact, as long as users steer clear of pyramid schemes, they are eligible to register an account with a foreign currency broker outside of the country, and it is all very legal.

The Future of Forex Trading in Thailand

Recent reports reveal that the Thai government has plans to relax laws on forex trading. According to Chananun Supadulya, the BoT’s Foreign Exchange Administration and Policy Department director, the annual outflow limit will be raised from US$50,000 to US$200,000. This shows promise that Thailand will benefit further from forex, and the economy will boom with the right regulations in place.

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Bitcoin Goes Over $80,000

Bitcoin Goes Over $80,000 As Buyers Guess Whether Trump Will Run For President.

Bitcoin bulls and meme stock traders are excited about the prospect of another Donald Trump presidency. Or at least the possibility of conducting some momentum trading in the next 18 days.

Here is the deal: Bitcoin, the world’s largest cryptocurrency, surged briefly to a three-month high above $68,000 on Wednesday, fueled by a combination of signals, including the former president’s statement on X that “crypto is the future” and Vice President Kamala Harris’ nod Monday to regulatory support for digital assets.

At the same time, Trump Media shares were recovering from Tuesday’s inexplicable 10% dip and resumed their meme-stock-like trend of rising without any fundamental cause to do so. The stock closed Wednesday up more than 15%.

Crypto And Meme Stock Boosters Aren’t Doing ‘Trump Trades’ — They’re Just Doing Trades

What do digital currencies and media stocks have in common?

Not much generally. However, in recent weeks, they appear to have shifted in tandem with traders’ estimates of Trump’s reelection chances.

To be clear, these traders do not have a crystal ball; they are simply wagering, with varied degrees of skill, on highly volatile assets.

Crypto traders are ecstatic at the Republican nominee’s apparent 180 on an asset class he previously branded as a fraud. Even if Tuesday’s launch of Trump-backed cryptocurrency platform World Liberty Financial revealed lukewarm interest and numerous technical issues, the former president has spent months recruiting industry billionaires and generally telling devotees what they want to hear.

That enthusiasm skyrocketed Wednesday when Trump extended his lead over Harris on Polymarket, a cryptocurrency-focused predictions website where you can wager on the election outcome. According to those investors, Trump has a 59% probability against Harris’ 41%. (This is drastically out of line with national polls, including CNN’s “Poll of Polls,” which currently show a near tie.)

“As the election approaches, voting estimates may cause market swings,” says Robinhood’s senior director of investment strategy, Steph Guild. Bitcoin may gain from Trump’s improved odds, she said, “given that he is seen as more friendly to crypto in general.”

Aside from the election prediction game, Adrian Fritz, global head of research for crypto business 21shares, tells me that bitcoin, a bellwether for the broader crypto market, is being propelled by other macro tailwinds. Not least, central banks around the world are lowering interest rates, making risky assets such as cryptocurrency more appealing. Plus, it’s #Uptober, a month when digital assets have historically performed well.

“It’s no surprise that it became way more political on both sides,” Fritz points out. “The positive aspect is that it draws attention to the entire space…” We firmly believe that, regardless of who wins, the outcome will be beneficial to the industry.

Trump Media, meanwhile, is witnessing a pre-election spike. However, it is unique in terms of turnover and swings similar to meme stocks.

According to Barron’s journalist Al Root, the equivalent of all DJT shares available for sale has changed hands multiple times in the last week, with investors hanging onto the stock for an average of only two days. For instance, Root observes that Apple shares take more than a year to fully turn over.

Crypto And Meme Stock Boosters Aren’t Doing ‘Trump Trades’ — They’re Just Doing Trades

That level of volatility makes cryptocurrency appear stable in comparison, but it attracts a certain type of iron-stomach trader looking to purchase on the rise and sell before it peaks. (Sounds simple, but your investment adviser might tell you you’d be better off going to a casino, where you could have a great cocktail and enjoy playing cards while losing money.)

Fritz thinks that momentum plays are “absolutely” happening. “This affects both consumers and professional investors. “The basis trade is one of the most popular bitcoin strategies,” he stated.

(In other words, hedge funds are leveraging up to execute complicated trades that take advantage of slight price variations between bitcoin’s spot price and futures market pricing, increasing trading volume even further.)

Bottom line: Bitcoin and Trump Media may get considerably more volatile in the coming weeks as more traders enter the market. However, if analysts or voters are looking to the market for clues as to how this presidential election will play out, keep in mind that traders will trade. While some sincere believers may be investing in supposedly pro-Trump assets, the great majority are simply working the casino floor, hoping to cover their bets and gain a few bucks.

SOURCE | AP

Canadian economist Carlos Castiblanco believes that Canada should follow in the footsteps of other countries and enact legislation to protect the use of cash in the country.

Castiblanco, together with the group Option Consommateurs, is urging the Trudeau government to follow the lead of other jurisdictions in the United States and Europe in enacting legislation to slow the transition to a cash-less society.

He stated that barely 10% of transactions in Canada now use cash, and that Canada must defend cash now before more merchants begin to refuse it totally.

It is vital to act now, he told CBC Radio’s Ontario Today, before businesses begin removing all of the infrastructure required to handle and manage actual cash.

“They are already used to dealing with cash, so this is the moment for the Trudeau government to act, before it is more complicated.”

A recent online poll of almost 1,500 people commissioned by a different group, Payments Canada, discovered that the majority of respondents were concerned about the potential of cashless stores and preferred to keep the ability to use cash.

Bank fees in Canada

Above all, cash has no bank fees, is not vulnerable to privacy breaches, and may be utilized during internet outages.

The Payments Canada paper, “Social policy implications for a less-cash society,” suggests legislative action, saying that cash-based transactions have decreased from 54% in 2009 to 10% by 2021.

Aftab Ahmed, one of its writers, explained who would be most affected by a cashless future in a recent piece for Policy Options, the Institute for Research on Public Policy’s online magazine.

“For many Canadians, including Indigenous people, homeless people, aging citizens, and others who are vulnerable, cash is both a beacon of economic stability and a source of financial insecurity. “Cash is an emergency lifeline and a symbol of cultural traditions,” Ahmed explained.

“Canada must avoid sleepwalking into a cashless future and instead recognize the risk of exacerbating financial exclusion of those most vulnerable.”

Refusing to accept cash

The currency issue has already caught fire outside of Canada, according to Castiblanco, with some US states and territories beginning to pass legislation to preserve access to cash.

In 2019, Philadelphia became the first city in North America to prohibit “any person selling or offering for sale consumer goods or services at retail from refusing to accept cash as a form of payment.”

Other U.S. cities, including New York, Seattle, and Los Angeles, have since taken action on the issue.

In New York, the policy recommends fines of up to $1,500, with the Councillor who proposed the guidelines claiming that prohibiting cashless transactions preserves privacy, equity, and consumer choice.

European countries such as Norway, Spain, and Ireland have enacted similar legislation. In Ireland, the rule would mandate cash transactions at companies like as pharmacies and grocery stores that supply basic goods and services.

Source: CBC