Sustainability

Change is the only constant

Alot has been said about change. And justifiably so. If nothing ever changed there would be no butterflies. Or seasons. Or mobiles. Or the zillion things we see (or don’t) that have gone through the process of evolutionary change.

I for one, being from Gen X, have seen rapid changes to the way we live, eat, socialize, work, and ‘practically everything’ as compared to what it had earlier been whilst I was growing up. And isn’t it simply astounding to what we get to experience today?

I dread to even think of what it would be like if nothing ever changed, everything remained just the same forever. Thank heavens for making change the only constant!

Some changes happen by chance, some are a result of our choices, and some are totally out of our control. No matter how, what, or when; change is something that will always create. And history is proof that all great changes were preceded by great chaos. Even if it feels disruptive and destructive in the beginning, it eventually leads to an ecosystem of a higher disciplinary order.

Editor's note

Our only security in this world that is changing by the second, is our own ability to and be open to change. And so, this editor’s note will be different from what it normally is, without mentions of any of the stories/articles contained in this edition. Just for some change… and a break from the usual.

Who said change must be only gloomy and dull? Change and creation can be a whole lot of excitement. Here (https:// www.cadcrowd.com/blog/18random-invention-ideas-thatmade-millions/) for you to read is a list of 18 random inventions that went on to make its creators millions of dollars. Who knows, you could be the next one. ✪

Go Create, Change, and Celebrate!

Bulletin US dollar surges, almost in line with the Euro

Gold is the way forward for many

For the first time in nearly 20 years, the exchange rate between the Euro (EUR) and the US dollar is almost the same. The two currencies are less than one cent away from parity.

That dollar trend, though, does harm the financial health of American companies because their goods become more expensive for foreign buyers. If US exports were to decline, it further slows down the trade and economy as a result.

Mark Zandi, the chief economist at Moody’s Analytics, said, “The stronger dollar weighs on (economic) growth as it causes exports to decline, while imports shoot up, thus creating a wider trade deficit.”

Economists say the risk of recession is rising steadily in the United States as the Fed raises borrowing costs and consumers use up the savings they built up during the pandemic.

In particular, another economic activity that affects these changes is Russia’s recent reduction in natural gas supplies which has consequently raised rates and raised concerns of a fuel deficit that could force governments to redistribute energy to homes, schools, and hospitals. (European leaders have condemned Moscow’s move as an attempt to blackmail Europe for embracing Western sanctions and backing Ukraine in the aftermath of Russia’s invasion.)

The global uncertainty in markets has made investors shift their investments to gold. Gold has become the respite for many despite its exchange-traded funds (ETFs) that registered $1.7 billion outflows in June. Sources from the World Gold Council (WGC) reported the second consecutive month of outflows, which were down from the $3.1 billion last seen in May.

Gold fell to a fresh low consecutively for the 9th month on Tuesday, which was directly influenced by the dollar’s continuing rise, as investors awaited U.S. inflation data that could prompt the Federal Reserve to strengthen its aggressive stance on monetary policy.

Spot gold prices dropped by 0.3% to $1,728.58 per ounce by 0457 GMT, after hitting their lowest since 30th Sept. 2021 at $1,722.36 earlier in the session. U.S. gold futures eased 0.3% to $1,727.20. Many are predicted that this may be the wise time to buy gold. However, the price variations are yet to conclude pricing decisions for customers.

WGC suspects that gold will face two key challenges during the second half of the year, an increase in nominal interest rates and a potentially higher dollar.