In this presentation, we will enter a reversing entry related to revenue or accounts receivable. In other words, last time we entered an adjusting entry and adjusting entry to bring the revenue back into the correct time period, however, now we need to enter the reversing entry so that we do not have the entry duplicated as of the time it was originally input into the system. Time to rise above the crowd with Sage50Cloud accounting. Here we are in our get great guitars file we're going to be starting off by opening up our financial statements. So we're going to go to the drop down on the reports and forms where the financial statements are. We're going to go into the financial statements. I missed it, but you know where I was going, I'm going into the financial statements and we're going to open up the balance sheet. Let's open up that balance sheet. It's going to be for the month of February, February, and that's the one let's open up the income statement as well. So we'll go back on over and open up the income statement. So income statement. Let's also do that for the month of February. And so we're going to be, I'm going to uncheck these ones so that it doesn't show those zero balances because I don't need them so I don't want to see them. And so here we have it. So here's our income statement. So last time we entered an adjusting entry to pull the accounts receivable back into the correct period because the invoice had been entered, however, it was entered in March and we did the work in February. So we needed to bring the revenue and other related accounts back into February when the actual work was done in accordance with the revenue recognition principle. But now if we don't reverse it, then it's going to be in there twice as of the date of the original invoice, which was actually after the cutoff date in March. So now what we need to do is a reversing entry so that that doesn't happen. So here's our adjusting entry that we did. We need to reverse it now as of the first day in the next time period, which is going to be March 1st. So the easiest way to think about the reversing entry, in my opinion, is to just take the adjusting entry and then reverse it exactly, which seems kind of obvious and straightforward. But honestly, if you look at when people do reversing entries, they often get mixed up because they try to reshuffle the account order to put the debits on top and this and that. And so I wouldn't recommend against that and just and just take this adjusting entry. I'm just going to copy this same whole thing here and I'm just going to say copy this and paste it. By the way, this is the same way that and I'm going to paste it here. You might want to do like a credit memo. I would actually write out the actual sales invoice and then think about the credit memo or something like that, right? And so I'm going to delete the numbers here and then I'm going to, I'm going to re, I'm going to delete basically the indentations so that we just have the account names. Now rather than reshuffling these accounts to try to put the debits on top, I'm just going to say, I'm just going to do the exact opposite of what's over there. I'm just going to say this is going to be a credit now instead of a debit of that number and then we're going to debit instead of crediting this number and we're going to debit instead of crediting this number and then we're going to credit instead of debiting this number and then we're going to debit instead of credit this number. So we just did the exact opposite. I'm just gonna pick this up and do the exact opposite. I'm not gonna try to shuffle these accounts. You might look at this and say, well, these two should be on top because those are the debits. Well, if you start moving the order of the accounts, it really, in my mind, complicates the thing to be able to go from the adjusting entry to the reversing entry. So I would rather just enter it like this. And there's nothing you can do to make honestly this entry look normal because this isn't a normal entry. We don't typically decrease sales that just doesn't typically happen. Cost of goods sold is almost never accredited. It shouldn't happen. And inventory, you know, well, those are the most unusual items of it. So there's nothing you could do to kind of make that normal in the way you record it. So putting the debits on top doesn't really help it. What you wanna think about is to say, to make this fit in your mind, is to say, hey, this is the adjusting entry and I'm simply reversing it exactly. So don't try to think of the reversing entry without first thinking of the adjusting entry. And that's the way I would do it. You're not trying to memorize a whole new thing. You're just saying, hey, that's what we did on the adjusting entry. This is gonna reverse it. Same with a credit memo, I think of it in a similar fashion. So now I'm gonna hide these columns by going from A to D. And then we're just gonna enter this as a reversing entry. I'm gonna right click and hide these columns. And then I'm just gonna enter these as of March 1st. So let's do that. Let's go back on over to our information over here. Back on over and we're gonna go to the tasks drop down and we're going down to the general journal entry. And we're gonna do this general journal entry as of 03.0120. 03.0120, then we're looking for accounts receivable. That's where we start with this thing. So this is gonna be accounts receivable. And obviously 03.0120 is the first day after the cutoff date. That's why we're doing it there. So this is gonna be a reversing entry. And that's gonna be for the amount of the 547.50. So that's a credit. Credit 547.50. And then the other side is gonna be to sales, which I think is 4,000. That's gonna be a debit of 500. I'm pretty sure. Let's double check, I'm almost positive. The debit 500 and then the sales tax payable. Sales tax payable. Going to the sales tax payable. And that's gonna be a liability. So there it is. There it is. That's gonna be for the 47.50. 47.50. Then we have the cost of goods sold. So I'm gonna be looking at the cost of goods sold. It's gonna be down below here somewhere. There it is, cost of goods sold. That's gonna be a credit this time of 400. As can be seen here. Credits of 400 and then inventory. Lastly, we have the inventory. And so there's that. And that's gonna be a debit of 400. So there it is. We have reversed it exactly. Let's go ahead and record this and see what then happens on the financial statement. So I'm gonna go ahead and say save and then close and then go to the financial statements here, here. And we're in the balance sheet. And let's change the date. Let's actually look at the income statement first. If I go to the income statement and now I'm gonna change the date. We're still good as of the end of the cutoff date. In other words, if I double click income, our adjusting entry is still in there pulling this revenue into the current period of February. Now we wanna go to March and we're trying to say, hey, did we make everything okay for the accounting department in March or did we mess them up with our adjusting entry? We made things correct as of the cutoff date, but did we mess up the normal accounting process after the cutoff date? So we're gonna go back in and we're gonna say, see, it goes back to zero here. It's back to zero. Why? If I select the detail, you could see that we have the reversing entry that's gonna basically reverse it out. And that would result in like a negative amount in there until the invoice was entered and these two match out. The 500 and the 500 then tie out and match out to zero so that it's zero. So in other words, as of March, when the invoice was actually entered, there's no revenue recorded because we pulled it into the prior period with the adjusting entry. We then reversed it as of the first of March. So we pulled it back into February. We reversed it as of the first of March. Now you might say, why didn't we reverse it as of March six? Because that's the day the invoice was made. In other words, if you look at the dates from March first to March fifth, it's gonna be wrong. It's not only gonna be wrong, it's gonna be very ugly looking because it's gonna have a negative revenue account on the income statement, which shouldn't happen. So why would we do that? And the reason is because logistically, it works good for us. We don't wanna enter the reversing entry as of anything other than one day. We want all of our reversing entries happening at the same time period. Otherwise, it's hard for us to go figure out where the reversing entries were. So the strategy here is that we want the financial statements to be correct on an accrual basis as of the financial statement date, the end of the month or year. We do that with the adjusting entries. And then we wanna make things logistically easy in the middle. So it's logistically easier for us to reverse this as of the first day, even though it results in five days of it being not technically correct. And we could have fixed that by just entering it as of the sixth day, right? But the added benefit of having those four days be more technically correct is not as great as the benefit of having all of our reversing entries as of the same day, typically. So that's gonna be the rationale there. So then if I close this back out, the other side is gonna be on the cost of goods sold. If we double click on the cost of goods sold, there it is, one same kind of thing. We reversed it out. And then here's the original invoice. Those two things cancel out because the actual cost of goods sold is gonna be reported from a financial statement standpoint in February, and we did that. So then we're gonna go back over to the accounts receivable. If we go into the accounts receivable, let's change the date so that we're in March. So if we change date to be like the range and then we go into March, so let's go into March and say, okay, same thing's happening here for the AR accounts receivable. So then we have it again, the reversing entry happening here and then the actual invoice because we pulled in the receivable to be on the books in February before the cutoff date with the adjusting entry. And then you can do the same for the accounts receivable. I won't do them all. Accounts receivable and the sales tax payable, same concept, same idea you'll have in there. Now, if we look at the subsidiary ledger for the receivable now, we should be closer. We should be off by 300. So I'm gonna go back over here and go to the reports dropdown and we're gonna go into the accounts receivable this time. And then let's take a look at the aged receivables and then scroll all the way down to the bottom all the way down. I got a lot of stuff happening and there's our number. Now this is the end of February. I wanna make this in March. Let's make this with the date here. We'll change the old date to the end of March. And then let's do this again and then I'll scroll it back. This time I'll use the scroll thing because there's a lot of them and maybe this'll be faster.  Trusty calculator. So we can do some calculating. Here's the 10, 8, 5, 0.55 minus. And then if we go on back to the balance sheet we have minus the 1, 1, 5, 0. 1, 5, 0, hold on. 1, 1, 1, 5, 0.55 and now we're off by 300. And that 300 is that negative amount over here. That's gonna be this negative amount. And we talked about that before but the bottom line is the adjusting entry kinda threw us off between this reconciling difference because we didn't assign a customer to it. We just entered it. So that threw our register off over here because we didn't have a customer. But now we reversed it out and so now we're only off by that negative 300. A similar kind of factor could be involved with the inventory as well because it has a subsidiary ledger that's gonna be tracking the inventory items. So in any case, that's gonna be it for now. Let's get outta here.


Then versus then. This mistake is one of the most common ones, even for native English speakers. Let's take a look at this sentence. My laptop is better than yours. Does this look right to you? Nope, sorry. It should be then. Then is a conjunction used to compare things, whereas then is an adverb used to situate actions in time, such as here. I wrote an email, then I read a book, and then I called my friend. The next time you're using then or then in a sentence, ask yourself whether it is used to sequence actions, or to compare things and you'll definitely get it right. That's it for today. See you next time.


Welcome back to my channel guys. It's your girl Coco styles and on this channel. We talk about beauty fashion lifestyle and styling So in today's video, I'm just want to show you ladies some of the shoes that I'm gonna be wearing this spring So if you don't know I wear a size 11 so it's ten and a half, but I got wide feet So it's between 11 12 and 13 only because Jimmy choo So I'm gonna show you some of the shoes that I'm gonna be wearing and the brands that I like to shop at Jimmy choo is Known for really nice high shoes high heel shoes high heels. I'm like a old lady however This stuff is really narrow And it runs really small and I'll give you an example when the newest boots came out I'm not even sure what they're called, but they have like a black and white zigzag I was going to pull that trigger never tried them on so I'm thinking maybe a 13 can fit But I went into the store and the calf area is so small I'm not even a big. I'm tall, but I'm not like Super like thick That calf was so small So it's meant for someone that's really small and then I ended up seeing cuz I sold them for a while Didn't see anybody with them and then I saw a Karen Britchick with them on And I was like, okay, and then I saw them in the store. So I was okay. I think she's small like She looks tall, but I still think she's like on this the smaller side So the shoes that I'm gonna be showing you as a tall girl These are the brands that I shop and if you struggle with finding shoes I said this before a lot of the higher-end brands do carry Larger sizes now. Are they available all the time? No, because I think that I Think everyone's buying the shoes if you know what I mean So for us girls who already struggled trying to find shoes It's even harder now because they're grabbing up the shoes as well. So I'm gonna run through this video really quick I do not want my battery to run out So let's get into the video. So I'm gonna show you the first pair of shoes, which are These Sam Sam Stuart Weissman pumps I think I've shown these to you guys before this Sun is like in the way, but these are Really nice. The heel is Not that high I wish they came out with these in black, but they didn't they had like a suede which was odd I mean it's odd to not have black, but then have a pop of color and in a suede pair. So Stuart Weissman if you're watching If you can get these in black I'm sold. All right, so I'm gonna be wearing these. They're very comfortable I did opt for size 12 of these people wasn't that they ran big, but I got a size 12 They are made in Spain and it's a nice hill It's not so much kitten hill because kitten can be a lot shorter than this, but it's low It's a low hill very comfortable So these I'm gonna be wearing these and check out Stuart Weissman if you do wear size 11 to like I want to say a 13 The other shoes are going to be Now these are Sam Edelman now I'm looking for a slingback pair of white shoes because Listen, I don't want to wear heel heels anymore and these are still kind of high They're not even high, but I'm just wanting to be like super comfortable white pumps or white slingbacks I'm gonna be wearing so if you do not have a pair of white shoes Get you a pair now I know a lot of people don't like white pumps so slingbacks are a little bit better or peep toe so some of your toes and stuff are showing but I'm gonna be wearing these a ton with like Skirts and mostly pants like maybe linen pants or whatever Depending on where I'm going. So if I can get a lower pair I'll probably wear the more than these but definitely a white pair that I'm gonna be wearing That's in my closet today So everything that I'm gonna show you is nothing new Had them for a while and they're pretty much like essential Essentials sandals with the exception of One that I purchased last year, I believe so a red pair and this white pair of pumps and if you don't know I Am a pump girl The other pair I'm gonna be wearing are these other Stuart whitesman sandals and they have more of like a block heel but the reason why I like these is because They're they're not my nude, but they're Pat and Leva and I like them In this color. So Stuart whitesman you guys like I said, he actually carries a wide as well So if you do have a wider foot Check them out because some of his shoes he does carry and wide and these are one of them So these I actually got these in a 10 and a half wide Because that's my actual size So I usually opt up for another size, but I think the older I get my feet are just feeling bigger and bigger child So some strappy sandals is gonna be worn of this Spring for me and if you do not like strappy sandals always opt for like a peep toe or something like that He told are really nice my little brother said he doesn't like peep toes. I don't know why He told me that years ago but These are for me this spring and I have these in black as well. I have a couple of nude sandals nothing Nothing that is a match to my skin tone Not too many brands come out with darker nudes which sucks, but whatever So those two and I'll say this Stuart whitesman for some may not be the cheapest I just found out that Steve Madden actually goes up to a size 12. I never knew that so that was nudes for me and good news for the girls who Who love to wear let me grab these girls who love to wear um Stupid Steve Madden shoes. Sorry guys. I had a stretch. All right My Jimmy shoes, these are just some sling bags. I've worn these a ton. These are a 40 Serene Nice, you guys know I bought these in that lime green If I could find me a lime green bag Just a small one I'll probably wear those a lot more and that's probably what I need to be looking for but these are the nude color pair I should have gotten the I mean, this is the ivory color pair I should have gotten the nude color because it was like a taupe really pretty I'm gonna be wearing these they're very comfortable again a very low heel for the girls who just don't feel like wearing like super high heels like Listen, don't be shame child.  Don't be ashamed I got these on sale the same as I got the other ones on sale So what I like to do is I like to put things in my shopping like my wish list and then When it goes on sale, I'll get it that way. I'm just not buying everything.  They are really flat So I wouldn't recommend like walking with them. I did a walk the other day. I was fine Walking when I got home job my feet. Maybe they were just tired from the long walk But these are not a good walking a walking sneaker. However, they're very cute. They go with trousers. They go with skirts Maxi skirts all that good stuff dresses like flurry dresses So my sambas I'm gonna be wearing and they I wore these a lot for me to have walked a lot in these Driving the knees gotta be careful because of the suede on the side, but um, yeah, you can tell I wore them by looking on the inside But the bottom still looks good But these are the shoes of my closet that I'm gonna be wearing this spring I'm trying to utilize what I have before I buy anything new if I do get something new is probably gonna be Some white sling bags some nice low cute heels And maybe like a red pair of sling bags and maybe like a pop of color besides red Maybe like yellow or something like that maybe even green something but I Am trying to be smart with my shopping like I've always done nothing too crazy So this is going to be for this spring for me You guys let me know what you're gonna be wearing on your feet this spring if you want me to give any Recommendations on places where you can shop if you do wear size 11 and up Holla at your girl. I can do a whole separate video Maybe I'll just do it anyway and show you guys some of the shoes that I would personally get as far as quality Not really basing it off of the designer or the brand Just solely based off of the quality if it's a hundred percent leather then yes Even if it's a hundred and fifty dollars, it could be a hundred percent leather if that makes sense So thank you guys for tuning into this video Again, you guys are gonna be seeing me this spring in these shoes and probably some more that's in there but these I know for sure and the bags and stuff that I showed you guys in a couple of videos ago, but You guys are gonna see me this spring So if you stay to the end of this video, please comment Coco We see you and guys don't forget to follow me on Instagram at Coco styles NYC and Coco styles and why and my Personal style blog Coco styles and why see calm and my style services Coco styles and why calm and I'm on tickety tickety top Coco styles NYC and I will catch you guys in the next one guys Bye


And on that note, we now get on to the fireside chat for today evening with Dr. Anurag Batra, Chairman and Editor-in-Chief, Exchange for Media and BW and CBL, Srinivas Country Manager, India WPP. Well, Mr. CBL, Srinivas has over 25 years in the media and advertising industry, health senior management positions in leading agencies including Group M, WPP, Madison and StarCom, Media West in India, Asia Specific. Member of startup team at HTA Falcrum, now Mindshare Falcrum, a part of Group M, WPP, India's first media agency of record on Unilever in 1995 helped establish Maxis for Group M, WPP in India and Asia Pacific. Worked closely with several leading advertisers, brands and helped build and scale so many agency and businesses. Well, today he will be sharing his inputs on digital transformation. We are putting a lot of focus on this. I request you to please take us through a lot of interesting conversation that should be taking place. Thank you. Mr. Srinivas does not really need an introduction to Mr. CBL, nor does he need an introduction. So please give him a big round of applause. I can say the reason we requested him to be the chief guest for the awards is because of his stellar career growth and the roles that he has played and the talent he has nurtured just to, you know, Rathnika did kind of introduce him, but let me tell you he studied in two venerable institutions. One my father went to, I got admission, but did not take that Bitspilani. You know, I played and also participated in the OASIS twice in 1992 and 1993. Won a debating competition, won a quizzing competition. So he went to Bitspilani in 1984 to 88. He did his BE honors in mechanical engineering. Then he went to XLRI Jamshedpur in 1991 and in 1993 passed out. And his, you know, some of the roles that he's played are known, but he was a CEO for Asia Pacific for Maxis in 2003. He performed that role for almost three years. Then, you know, he took a different, he went to Times of India. He went in an investment role. Times of India just started the private treaties and he was the director of private treaties. And he worked about two years there. He did one more stint, which is he went to a technology company in between. And then he came back to media planning buying. He became the chairman for India, for Starcom Media West Group, where he worked for two years. Since Jan 2013, in exchange for media broke that story in Jan 2013. I called him to congratulate him. He became the CEO South Asia for Group M. That's a role he did for almost five and a half years.  WPP is the largest communication conglomerate. Almost 30 companies and 30 companies, CEOs report to Srinni. I can also say that Mr. Seville Srinivas has been a nominee of the impact person of the Earthrise. He's also the winner of the exchange for media influencer of the award. And I can talk about all his industry accolades, the evening will go away. But he runs a big ship. He deals with leaders. So there couldn't have been a better person post-pandemic to do a conversation on where are we headed in a digital connected world. So with this, please give Mr. Seville Srinivas a bigger round of applause. I think he's earned it. I just also want to say that when he became the country manager of WPP, he had big shoes to fill. Ranjan Kapoor, the late Ranjan Kapoor, he's looking down on us from heaven and what a gentleman he was. I had the good pleasure of interacting with him for almost 20 years. Me and Nawal met him multiple times in the last 20 odd years. And the one thing that I remember about Ranjan is there was Adesha and Jaipur. And in the night was the... No, it was your stream. It was your stream and I was there that your Nawal wasn't there now. And he made the mutton and he especially called me and said, you know, I made it. This is my formula. And then he went on to explain a little bit of that. But what a warm person he was. Even when we had started exchange for media was always supportive. Of course, he had a point of view on everything in the industry, but he was a gentle giant and he was a real Punjabi. So with this introduction, I'll have a conversation with Mrs. Srinivas and post that we'll take a break and we'll come back for the 40 under 40 list, which is exchange for media's digital first list. It has lots of marketers, digital heads, media agency professionals, entrepreneurs and entrepreneurs in the list. You'll see that it is representative of what's happening in the sector. It has companies that are known to be blue chip. It has homegrown companies. It has startups. So I heard Mr. Prashant Pithi briefly. Prashant, I had the good pleasure of meeting Nishant a couple of days back and he told me your story on how you started. So it's incredible how long you've come and I hope we get time to have an interaction. Srinia, I'm going to come there. Good question. Good question. But hopefully it's not, yeah, your award is maybe demographically defined but I guess otherwise it's just the mindset that you have, right? Yeah, that's what the minders group said. They, you know, make up these lies. 50 is the new 40, 50 is the new 30, 30 is the new 20. You know, these are good lines too much. Coming on a serious note, Srinia, we are having this conversation post pandemic. WPP clearly understands what's happening in the industry. Through your agencies, through your partners, client partners, through your media partners, you have an understanding of has the industry bounced back and support that with some data? I'm not asking for, but give us a sense, has the industry bounced back? Yes, the short answer is yes, the industry is bounced back. Actually, I think it's been a stronger bounce back than expected. Just to, I mean, give you some broad numbers. Last year, that is 2020, we look at data actually on a calendar year basis. So last year, 2020, we actually de-grew as an ad industry by between 20 and 25% versus 2019. And before this, you know, right after 2019, if you look at the Kaggle, the Indian AdEx was growing at anywhere between, I mean, around double digits, quite comfortably for the last many years. So suddenly we saw 20, 25% dip last year in 2020. This year, 2021, of course, the base is much lower because we went down, but we're going to be up by about 20 to 25%. Are we as an industry going to recoup all losses this year? Maybe not. I mean, maybe some individual companies will, but overall as an industry maybe not. But definitely by 2022, we will, I mean, we'll far exceed 2019 levels. So I think the bounce back has been extremely robust in the year 2021. And in fact, when we were going through the second wave earlier this year, most of us felt that this is also going to be a, you know, like a washout year. But because, I mean, various reasons, perhaps the lockdowns weren't as severe as last year. You know, businesses somehow continue, the advertising sentiment kind of came back. And then of course in the recent past, the big cricket tournaments, the festive season, they've all helped. So right now the numbers are telling us that we will end the year anywhere between a 20 and 25% growth. That's very heartening to know from where we started. Srinni, again, what is the reason for this bounce back? Give us the factors and the kind of companies that have contributed to this bounce back. Of course, startups is an obvious one, you know. They are funded, they are very optimistic on the future. They're investing in the future, so to say. We understand, but give us some micro trends. Yes, see, I think if you look at it at a very macro level, I think obviously the India growth story and the bullishness around India is still very, very much intact. I mean, we work with a lot of multinational clients and all of them, the headquarters, they continue to see India to be one of the key markets or perhaps the most important market from a growth perspective. So relatively speaking, India versus some of the other markets, we are still in a much, much better position because the headroom for growth is still there. And this is true across sectors. So I think that's at a very high level. If you look a little deeper and if you look across sectors, yes, there are some sectors which are obviously very, very challenged. They have been challenged for some time, but then COVID is coming. Which are these sectors? So for example, you know, let's say the traditional retail sector, or if you look at, you know, because of COVID and the aftermath, the travel hospitality kind of a sector, the airline sector, it's probably a bad deal. Prashant Pitti was there. I just wanted to tell you, I gave a statistic in the morning. I was talking to his brother Nishan and they said the best month pre-COVID, they're a listed entity, listed at about 2,000 crores, market cap to there at about almost 6,000 crores. I mean, exact numbers you can Google and find out what I'm giving you. And he said our best month was 14 crores, sales in a day. He said, I met him three days back. Four days back, possibly on Monday, they did 20 crores plus sales in one. So he believes in the next two months, travel is going to come back. It's coming back to the big bank. It's coming back to the big bank. And the business travel hasn't started yet. Yes, that's true. You know, a lot of these sectors, like I said, which were under, you know, under a cloud, so to speak, they're coming back to the very, very big bank, pent up demand, et cetera. And then there are other sectors like you mentioned, you know, the D2C brands, the tech brands, even the traditional FMCG players getting into, let's say, more premium niche categories, leveraging digital data, creating more personalized kind of consumer content. You know, we're seeing a huge uptick because of that as well. So I think if you put all of this together, in fact, the next few years looks extremely good for the market. And Srinni, now let's talk about the agency business. I know you keep saying we're not in the agency business only. We're in the business of advising our clients. And you know, comparisons to ExCenture, consulting companies are naturally made. They have become trusted advisors to brands, to business owners. Now, what are the structural shifts that are happening in our business? Yeah, so I think there are massive opportunities. And I've been saying this in many forums, including your forums for some time. The massive opportunities for agencies to move up the value chain for various reasons. I think the first big reason is the whole shift that's happening from, you know, the analog world to the digital world, which is throwing up, let's say, a lot more data, information, insights, throwing up a lot more demand for, let's say, a real-time connect with the consumer, a quicker closure on the feedback loop, et cetera. The demands, et cetera, are changing. One of the things that we feel we can do is, you know, given the relationships we have with brands, with consumers, and given the, you know, data technology stacks we've invested in over the years, we are able to actually today get in at a much earlier stage in the consumer journey as an advisor or as a partner, and also play a very important role in the whole feedback loop and the piece in between we were anyway doing.  You know, it's like a consulting or it's a service plus delivery kind of a model. And that's the evolution that we've seen and we will continue to see. You know, of course, you're talking about the direction you are taking, WPP agencies and WPP companies. But do you think the Indian media agency ecosystem, the Indian advertising ecosystem, overall has kept pace with that? Of course, the clients are forcing. But are we leading? Are we following? Well, that's an interesting question. I think a lot of it is dependent on, yeah, to an extent the kind of clients you're handling, the brands you're working with, the categories that you're working with, et cetera. I think in many cases it's forced change. I mean, whether you like it or not, you have to move in this direction. You know, the days of, let's say, depending, I mean, even before we get into media, I mean, the days of working in silos, I think are gone. You can no longer, you know, we went through this whole era of specialization and then super specialization. Unbundling of agency. Yeah, and the whole piece got fragmented, right? I think today, that's not really working for anyone. So I think today there is an effort to kind of try and, in a way, integrate full service, integrate services, and like I said, build on that feedback loop and ensure that you, you know, you're more strategic in your contribution to the client. So I think that's like a forced change. I mean, you kind of have to go that way if you have to survive in the business. But within that, yes, I mean, it depends on various factors. You know, you could say digital maturity of that particular category or brand or client in some cases. But yeah, I think everyone's headed in the same direction. My last two professional questions and I'll ask one personal question. What is the biggest shift you're seeing in the way clients operate? When you talk to a digital 40-under-40 winner who has 40 crores as his digital budget or her digital budget, what is the biggest change that you see in clients?  What's that one big shift? Of course, digital spends are growing, no question. Those are obvious. I think if you see the kind of conversations happening today with clients, I mean, maybe not one, but I'll just call out maybe two, three themes that are playing out. I think one is this whole theme around, you know, ideas, campaigns, media plans, all that is fine, but you know, help me solve my business problem. Help me solve my business challenge. So, you know, let's get the best of talent. I'm not wedded to any particular structure or any particular group or whatever. You know, just let's work in an open source mindset, get the best talent together and let's try and solve business problems. Yes, as part of that solution, you could also deliver a campaign, you could do something on digital media, social media, et cetera, but how do you join it all up and give me business value? I think that's clearly one theme and that's a big shift from some years ago. The other, I think, has been accentuated by COVID is I think there's a lot of stuff around purpose, around being a lot more meaningful, you know, for brands, for companies, so whether it's- In a deep way. In a deep way, beyond what's in your- Yeah, it's not just a tagline or whatever else, but how can you build it into your company philosophy, into your product, the way you communicate, and it's becoming extremely important for various reasons, right? I mean, if you look at any data, if you look at the millennials and the Gen Zs, I think I was reading some startling numbers. I think 82% of them would rather prefer buying a brand that actually not just stood for something, but actually does good as well. Not just talking about it, but even doing it. Yeah, I have two teenage kids, I know what you're talking about. Yeah, and brands which have an ESG which everyone talks about, but you know, hard data is there to show the brands which have a tangible ESG kind of an agenda or an offering. Yeah, Indian funds in the last one year have raised 11 billion of ESG capital. Yeah. 11 billion. Yeah. And it just started, so it's like tip of the iceberg, but you're right. Yeah. Purpose, sustainability. Yeah, so that's the other big theme of playing out, and that's also therefore important for us as partners and also the partners that we work with to kind of build that into our offering, whether it's the kind of work we do or whatever it is. That's really my last professional question. You also, you meaning WPP in the last 10, 15 years under your last boss, super boss, built India's business through mergers acquisition, through acquisition. And there were other groups without taking name, and you can figure out which one were much more aggressive in the last five years for paying for companies and paying much more than you were offering. So what is your outlook on mergers acquisition going forward and what is the change in WPP since the time you took over? Four years back. You know, country managers, right? What is that one change that has come and what is your approach in terms of acquisitions? Yeah. Okay. So I think like, I mean, every organization, we also went through a process of, you know, growing up, business evolving, et cetera. And I think we've reached a stage, or maybe in the last few years, we reached a stage where I don't think we're acquiring for scale because that's something which we have. I think what we really continue to acquire for is expertise, it's a certain technology innovation. It's something which can complement what we already have within the system to deliver more value for our clients. So I think that's, you know, it's in a way kind of a natural evolution that has happened. In fact, my taking over the country management role in a way coincided with new leadership globally. Incidentally, somebody who was the head of digital business and the head of digital became the head of agency, you know, of the conglomerate. I'm talking to Mark Reid, I'm talking about Mark Reid. Yeah. So we look at ourselves as a creative transformation company where, you know, like I said earlier, we want to be best placed to offer a strategic advisory service to our clients, bringing the obviously, you know, rooted in talent to the best people and having the right kind of data and technology. But most importantly, we still believe the biggest differentiators is creativity. I mean, you can keep talking about digital data, technology, disruption, et cetera. Which Pandey will still have his job. What really moves the needle is creativity, right? So for us, it's creative transformation, which is the space that we believe we can... You're re-hiring agnello dyes? Sorry? Are you re-hiring agnello dyes? So, yeah. So that's the... And what is the one change I asked you since you took over? You know, what is the transformation that you've done? I mean, it's difficult to talk about it as well, but talk about the organizing. I think overall as a company, we've... we're trying to simplify our structure and we're trying to get, I would say, a lot more speed and needle desks into our operations, including in markets. For example, we work in a more joined up fashion across all our key clients today, because as you know, most of our key clients are serviced by multiple operating companies. So today, we have a more joined up way of doing that. We have a much more joined up way of working with partners. Again, in the past, we had multiple operating companies working with multiple partners. Today, it's been driven in a more synergistic manner. And of course, there's a lot of synergy at the back end, a group like us can bring to the table. And yeah, things like working out of one campus. Yeah, you open a new office. I'm planning to visit. You've not invited me, but I'll come myself. Yeah, so we've got campuses now in Mumbai and Gurgaon. So all the WPP agencies under one roof. So yeah, things like that, you know, make it a lot easier to collaborate, to drive more value to clients. My last question before I get in, any questions from the audience? Now, Srinni, you've seen the communication ecosystem over two and a half decades. You had big roles. The job you have currently is the biggest job in our business. There's no bigger job than this. So what next for Srinni? Well, I think I have a lot on my plate, frankly. So I can't look beyond all the stuff that's filed up. No, but look, we are, I think, a very, very interesting phase of our evolution as a company. I think most people in the audience are hopefully aware of the agencies within WPP, but I'm sure most of them are not aware of the fact that in India, we have close to, I would think, 4,000 people who work in 12 hubs of global capability centers that we have built over the years, which is actually one of our best kept secrets.  So these hubs actually work directly with global clients. Many of them work on a 24 by 7 basis. So one of the things we're looking to do is to try and see how do we, you know, so it's, like I said, that's the other world within WPP in India. So we're trying to see how do we actually get the value that exists in these hubs, the kind of talent that we have. I mean, the number of people we have on the platforms or whatever else is massive. The number is actually, it's pretty impressive if you look at it. So how do you actually get the synergy going between the work that the hubs do with what the frontline agencies do to service the clients who manage the business brands and so on and so forth? Because we believe there's a lot of exciting value that we can unlock by doing that. So I mean, that's just one example of the kind of potential that we have. So do you get time to play tabla still? Yes, I try. He's a very good tabla player. And I learned it four or five years back at the Impact University shoot. The shoot had a tabla, he playing tabla in an Indian Italian, and that's how I got to know that he's very good at playing tabla. I'm still a learned beginner. Yes, I try and, you know, weekends still go back to the tabla and enjoy trying out one or two new songs every weekend. That's a challenge I set for myself. One of them is I try and pick a more classical number and then the other is I pick a filmy number. I try and identify the tal, those of you who I'm sure many of you know music and are much better than me. So I try and see if it's Kerala tal, Rupak tal or Deen tal and then I try and fit the piece into that. And that's the challenge every weekend. Not every weekend, maybe every alternate weekend. But yeah, that's something I keep trying to do. But yeah, I'm still a beginner. Good. I do read something and want to be better. Always think of themselves as big nerds. I think Amitabh Pachan sometimes thinks he's a big nerd too. But that's another story, another day. There's a quiz question that I'll ask you and there's an iPhone 13 to be one on that. But before that, any questions for Mr. Seville Srinivas, more popularly knows as Srinivas. Mr. Patra, he's been in marketing roles, business roles. Can we get a mic to him? He's not related to me. I'm not being, you know, clubby or family oriented I can just say the second name. You'll have to keep it closer. I don't think the camera is on. The mic is on. No, you're not allowed Punjabi from Delhi. You shouldn't need a mic ideally. You're audible now. Yes. Thank you so very much for a very enlightening session. A quick question from you. How do you think that the brands and the media actually help the mom and pop stores to be able to move digitally? What do you think is the future of retail, vis-a-vis the digital e-commerce, social commerce and the new emerging commerce? Thank you. Thanks for the question. Yeah, actually we have a wonderful opportunity in India to create value especially for the like you say the mom and pop stores using digital and technology. And there are several initiatives at play. I'm sure most of you have seen what we did for categories recently. Which is not just a category ad. In fact, that was a campaign that we first launched last year without Shah Rukh Khan but with the same technology, AI etc. And it was actually done on a slightly smaller scale and looking at the impact that that had this year came out with with a much bigger plan in that sense and with the celebrity and so on and that I'm sure you've seen and seen the kind of impact that has created. I mean that's one example but there are several instances today of our large clients looking at using technology data building B2B kind of a channel or a marketplace to onboard these retailers. So one of the things I want to add to Anurag's last question also I think the most exciting thing about any of our jobs because I'm assuming we're all working in India is that I think I really think I'm serious about this because I keep going out and meeting colleagues from other markets as well. I really think we have the most exciting market here whichever field you're in I'm assuming most of you are marketing or advertising because of a very unique ecosystem that you will always have for a long time to come because in India everything goes there is high end digital there is the global biggest market places and then there are the Kirana stores so you need some local innovation there as well there will be digital, there will always be analog there will still be good spend on all the so-called non-digital channels for some more time to come in India and then of course if you bring in all the services, the multiple languages that we have look at the innovation happening in India on voice technology in fact we run a voice technology lab in WPP in India and you know my young colleague Neeraj Ruparel and I would really hope to get Neeraj into one of your sessions to share with the audience the kind of work that's happening out of our offices in India using voice technology. Again a lot of it is I would say not for the urban audiences but more let's say amongst the rural audiences small town in India etc again amazing stuff and when we are contributing a lot of this best practice to the globe so yes this is a great opportunity. Thank you so much anybody else wants to come Aditi you want to ask a question in your agency you want to tell us who you are, what you do how much money you have in your Swiss backed account if you have one I am Bhavna, I am from Cherchat and I want to ask Trini how many of your how much of your you should know all the answers right Trini so he would have asked him the same question what kind of your business is going towards multi lingual kind of advertising how many of your clients correct me Cherchat is more tier 2, tier 3 Cherchat is everywhere now I like it because if you speak Hindi you can consume content on Cherchat right I will give you a short answer thanks for asking that question please convey my best test of wishes to Ajit Varghese fabulous colleague friend and I know we exchanged messages yesterday and I am going to catch up soon well there has been a complete shift in the last few years in terms of broadly speaking how money gets allocated media budget gets allocated when I was growing up in media 200 years ago it was more top down you would first do national and then you would kind of get into regional and so on and even till quite recently even some of the biggest advertisers didn't look beyond Hindi communication and maybe sometimes they would do either one or two languages in the south and maybe in east and leave it at that so I would say in the last couple of years in most cases it comes up and that's for firstly the kind of media opportunities that we have today which have opened up secondly I mean again data shows that unless you connect with a local audience not just in the local language but build in all the local nuances it's not enough to translate a Hindi ad into the south Indian languages and assume that it will work in fact we did a very interesting study for a large client of us a couple of years ago I think it was a fantastic study it was a brand when we found that the needle wasn't moving despite massive media weights in the south versus the north and when the analysis was done it was found that despite changing the model let's say to suit the south Indian audiences the rest of the ad was the same and then we found through research etc that it wasn't enough to just change the model and change the language you had to come up with completely new insight because that particular insight wasn't working in the south so I'm saying a lot of this awareness has come in and also there's a demand in the market side as well given that a lot of these markets need this kind of communication so yes not just translation you have to completely look at the nuances cultural insights and all of that so I think there's a huge role huge role that companies like share chat and others who are in the room who are into multilingual you know media channels have to play in this in pushing this agenda forward because we are not like one country from a media angle right we have so many different languages and cultures thank you so much I'll take the last question if anyone has one question sir we like it that lady there's an extra mic here tell us who you are, what's your name, what company do you represent I'm Archana and I'm from the impact team of exchange for media I would like to know whether you have WPP India has net zero carbon goals in India as well because your UK WPP has announced net zero carbon goals have you planned to announce translated in India as well oh yes absolutely so we have not just globally but locally as well you know goals set for ourselves on all of the ESG parameters in fact we also have a community in WPP India which is the green team which actually is working on a multi pronged agenda in this space one is to ensure that we ourselves are compliant as a company so whether it's our campuses whether it's the work we do with production houses and all of that is kind of adhering to all these norms secondly we're also working with our clients the kind of work that we do for clients in this space you would have seen a lot of campaigns in the recent past where this is kind of highlighted and then we're also working with a lot of industry bodies you know here in fact one of which I'd like to mention which is it used to be called India 2022 now it's called Vikasa it's got rebranded so it's a consortium of around 10 like-minded companies so there's HUL there is SPI there is GE there is WPP and a few other companies so we're actually trying to drive the sustainability agenda across corporate India so our role in Vikasa is to be a communications and innovation partner so doing some very interesting work there call about three years back so we're doing some very interesting work with some of the companies there Unilever as you know has a very aggressive agenda on eliminating plastics we were doing a lot of interesting work in the mining space to bring in environmental guidelines that are there but I think there's a lot more we all need to do and the only way we can do it is by working together if we have to really drive the ESG agenda it's not anything that one company or one person can do so it really needs a lot more collaboration I would actually urge platforms like yours to take ESG as an important topic and have a lot of awareness you know we can share work we can learn from others but I think that's an agenda we all need to work towards I just want to say a plug for I have a dual role I spend more time in business world we are the only business media could be only not CNBC not others with two words in their name we launched India's most sustainable companies last year all the companies that CEOs called me after and we partner the world's best it's called sustainable apps Paris we're bringing out next again we'll involve you I started an ESG show I've got the world number one every fortnight I'm doing ESG show this is my business world actually I had hired a sustainability editor six years back she had to go back to Washington I really credentialed really passionate about that that's a very big area and we spotted it very early but we'll see what we can do with this I think we're standing or sitting between the awards so I'll ask the last question the apple 13 if you want Srinni if you don't like that question and even if you know the answer you don't who has more hair on their head Srinni or me they'll photoshop it and I'll be more than my wife Srinni sir since it's still resolved at 50-50 there's no phone we cancel the answer and the question and over to Priyanka for getting the award give a big round of applause thank you Srinivasa do we have a moment for Mr Srinivasa thank you so much thank you so much Anurag sir you always give us great laughs I request you to please hand over a well deserved token of appreciation to Mr CVL Srinivasa


Hi, my name's Leon Roeb currency trader and trading coach at trading 180.com and welcome to this week's Supply and demand forex and gold fundamental and technical analysis if you're new or warm welcome to you And if you're returning and watching my videos every week and equally won't welcome it back to you And don't forget to like subscribe and share if you find the videos I provide every week of use and thank you to all the positive comments in the You guys have been posted in the comment section I really do appreciate the positive ones and before we get started into the Weeks analysis just wanted to go over a question a fundamental question a bit of fundamental education And really the poll was what effect should reduction of bond purchases by central bank have on a currency and 203 votes 77% of you voted currency appreciation and 23 voted currency depreciation. So the actual answer is currency appreciation. The reason why is because Bond purchases from central banks Banks have to increase their balance sheet and by increasing their balance sheet. They're really increasing the money supply, right? So they're increasing supply of an asset to buy bond purchases. So If they're increasing supply then prices should move down, right? Because there's more supply than demand But if they start to reduce bond purchases meaning they're reducing their balance sheet reducing the supply Or the amount of debt that they're buying. Yeah, because got bonds are basically debt so If they reduce the amount of supply and reduce their balance sheet then the reduction of supply should cause currency Appreciation so well done to those of you the 77% of you who got that question, right? And I'll be going over some other questions in the upcoming week. So now when you're When you're looking at fundamental News and analysis you now understand that when central banks are starting to talk about Taper and tapering bonds meaning the reduction of bond purchases that should have Appreciation effect on the currency right the currency should strengthen when we start to see reduction tapering of bonds and increase in interest rates, etc. Anyways, let's get into The this week's Analysis and just because you're new our trade processes to really apply fundamental analysis to establish trade direction And then apply technical analysis So our supply and demand strategies the time trade entries established profit targets and risk management. So let's get into the upcoming weeks Fundamental analysis news and let's zoom in on the week ahead and The US China will be publishing inflation updates for July and the coming week Well, second quarter GDP releases from the UK is really what we're looking at And factory production numbers from the eurozone will also be keenly watched other important data Follow includes US consumer confidence Germany trade balance Japan current account and Australia business morale Elsewhere sell true at central banks. Okay, though. Those are currency that we don't trade So for me really the important the really important news Is going to be inflation which is probably expected to be high for in the US anyway But the UK second quarter GDP should be positive and we'll get into some UK news as the pound central banks have Bank of England anyway have a signal that they're looking to hike interest rates, which is Positive, but the data has to support the narrative before a rate hike can happen The data has to support that decision. So let's get into now the Technicles and a bit more in-depth fundamental analysis starting off on the dollar index DXY and the dollar index Last week we had really a really nice move off of this demand zone and the dollar index is just a measure of dollar strength against the major currencies like the Euro the yen pound and the Australian dollar and What we've had from last week is basically prices came down into this this demand zone And then we had again positive news and really it was really driven by The expectation for jobs the US jobs everything you could want and more so the US jobs market has posted a solid set of figures for July with employment gains exceeding expectations unemployment falling wages accelerating and the participation rate Increasing momentum is building towards early federal Reserve policy action and that's what really drives prices in a medium to long term is Understanding you know GDP and where we are in the business cycle Are we in the recovery phase the expansion phase and if we are then the currency should appreciate and employment and jobs is one of the markers that we use to To understand whether a currency is is strong So Again last week the expectation of that you know came into play We had a bit of a pullback into that nice zone and then you know We got the news on Friday positive jobs news and then we had the dollar really start to go higher so Again if you're looking for any kind of buy trades on the dollar this we just use this as Confluence so any kind of pullbacks into a demand zone is You know is a buying opportunity and as long as the data supports the narrative We should be on the upside and I did say I have been saying that if if anything I'm probably long dollar In the private mentoring group the guys know that the cut the currency pairs. I've been trading against the the dollar You know like the yen and the Swiss franc and as long as risk stays on Basically, it's it's buying it's really kind of buying the dollar against other week currencies If you do think that the dollar may start to get weaker Then you're looking at you know somewhere around this zone to look for short trades But as I say pretty much every week Fundamentals really and risk sentiment is what drives market valuation and drives price in the medium to long term There's no technical analysis level that's going to stand in the way of any kind of Fundamental bias Right, so just because there's a supply zone here The chances of it, you know working out When you know, you've got strong dollar buying potentially is is slim not to say that it won't there might be some profit taking up here But event as long as we've got positive sentiment any expectation of Fed tapering and the rate hike potentially on Into the next maybe six months to a year or pretty about a year or so then The market is going to look to price that in doesn't take it doesn't doesn't look Or take cues or take direction from technical analysis. So I think the dollar is on the up and up and as long as again They support that narrative. We should continue to see dollar strength going into the the dollar yen Again, dolly yen did come down to a zone In fact, this really should have been drawn from here And that's where prices did come down into because you've got to explain you've got the last Bearish candle before prices make new highs, right? So that's rare where the strongest area of demand actually is and then prices came down into that 10890 area And then pretty much bounced from there really nice trade that And again positive sentiment risk on The Japanese yen doesn't do well in a risk on environment So pretty much this is what you're going to continue to see will this supply zone Hold maybe maybe not but I'm gonna get rid of that and just just pretty much say If you do want to get short at any point then yeah as long as prices come into this supply zone There is just there is a supply zone there, but for me, I think demand And buying dollar is really where it's at So if we can create some maybe some higher lows and higher highs and pull back into that zone It would be really really nice for a for a buy trade with prices can come back to 209 area That would be quite nice for a buy Moving on to the dollar Swiss Swiss didn't quite come into this demand zone down at the lows But now it's created proof of values create a nice demand zone there So if prices ever do come back down into this zone, that is going to be a really nice buy trade for a sell trade You're looking at this area here but again the Swiss Frank is really not the The currency to buy in a risk on environment if risk starts to come back off again again concerns about the Maybe global growth China slowing down the corona virus spreading and possibly you know, you could see You know look for short trades of prices come up into that zone but for now I think that the the market is really kind of forward-thinking and I think the the dollar really is the one to To buy at the moment. It's positive sentiment all around dollar CAD It's a dollar CAD Again, this is this is again two currencies that are kind of competing with each other You've got the US which are potentially hiking rates as well as Canada hiking rates and Canada didn't have the greatest news on on Friday Eva So Canada jobs recovery continues in July amid re-openings So Nash the nation adds 94,000 jobs in July mostly full-time positions But the game was less than the 150 jobs Expected by economists, but there is there was some positive news was that the unemployment rate fell from fell to 7.5 from 7.8 in July. So unemployment is moving in the right direction so Again, you've got two currencies Bank of Canada as well to two central banks I say Bank of Canada and the Federal Reserve looking to hike rates at some point in 2022 2023 So when you've got two currencies that are really, you know, looking to strengthen their currencies It's it's a harder trade, right? What you actually want to look for is a currency that is looking to In obviously hike rates and then a current against the currency that is not hiking rates anytime soon is lagging behind So that's more of the way you would find the divergence, right? That's what is known as divergence trading and So with the dollar cad for me It's a more of a difficult read and when it's more of a difficult read then pretty much I Personally, I'm not trading it But if you are then I would probably say this one to eight one two seven fifty area It's probably the best area to look for any kind of long trades and their Certainly short trades and any long trades looking for probably a pullback into this one to four area for a buy Moving on to the New Zealand dollar US dollar and the New Zealand dollar again is one of my buys just not against the US dollar So we did have again some positive news come out and we've sold off for the the US dollar was kind of increased in strength, but from the perspective of a Or or again two central banks looking to hike rates in the New Zealand dollar the reserve Bank of New Zealand are Probably going to be one of the first potentially high creates maybe at some point this year is the rumor could be this month Or it could be in I think it's like September or October if not this month I think it's the most this month might be a bit too premature But if they do then you should expect really prices to rise And the the New Zealand dollar to appreciate But again with two central banks looking to hike rates for me, this is more of a difficult week I'd probably my bias is skewed more towards the New Zealand dollar buy so any kind of moves into a demand zone is really where you should be Looking and let me just tie this chart up a little bit if anything I've prepared to pull this up to here and it's going to be I think this whole area really going to be demand right there So let me just get rid of this so it looks a bit. It doesn't look a bit messy But at the end of the day, this is the way we draw our zones and we can always Clear and clarify where about in this demand zone We want to be biased by looking at things like horizontal support and resistance Both on the daily and also some intraday zones as well So within that demand zone where exactly do you want to be a buyer? And that's where you use support and resistance from horizontal diagonal and also things like moving averages To to decide where you want to be actually a buyer within this zone The overall is not really a pair that I'm looking to trade any time any time soon as there's no There's no monetary policy divergence moving on to the pound dollar pound dollar So we had some positive news around the dollar last week it was to do with the central bank looking to potentially high crates and So Bank of England rings alarm bell for Sunak who is the UK's chancellor of the Exchequer rock bottom rates may rise So so basically central banks pledge for modest tightening may end the aid and basically the aid of you know monetary Support you know for public finances so So So the chancellor is in a bit of a sticky place because of the fact that he wants to continue the low borrowing rates But the central bank are saying what we may have we might have to high crates Why we have to have the high interest rates because of inflation and potential I Guess The fact that inflation is getting a bit out of hand so they may have to look to start to high crates soon Sooner rather than later. So You've got a chance there of the Exchequer against really the the Bank of England, so With that being said the rumor is that the Bank of England may want to high crates So for me, it's literally buying the pound But against the dollar probably I would say probably definitely not I'd be buying a pound against something like the pound up against the yen or the Swiss Or the Swiss Frank, but if you are looking to trade this pair Then any kind of shorts in and around this area or up into this area is where you're looking for short trades If you're looking for long trades, it's really a pull back down It's just one three seven area if it gets down here for a long trade But again, not really a great pair to look to trade Euro dollar Euro dollar and again, you can see the effect of monetary policy When the Federal Reserve came out back in June talking about potential tightening and tapering and potential hiking rates you can see pretty much what's happened the European Central Bank on the other hand are very dovish, right? Very dovish meaning that they're not looking to Hike rates or even think about tapering at all and they won't rush ECB European Central Bank won't rush to signal future of pandemic program. So You know given how much uncertainty Sorry, given the uncertainty given how much time is left. There is no need to decide on that says Kaz Kazaks who also leads Latvia central bank. We will discuss it at the moment And but at the moment it would be still be premature. So they're talking about, you know, the bond purchases That they're that they're doing and potentially, you know, reducing their bond purchases So policy makers have set up their September meeting with new forecasts will become available as as a crucial session to scrutinize the euro area's economy and its prospects and to start debating post pandemic monetary stimulus. So again They're talking about the Whether they're going to still support the economy And and buy bonds or whether they're going to reduce it. But this and they don't they're not thinking about it What if, you know, they're going to maybe announce it in the future? Whereas The Federal Reserve are really kind of announcing it now But they did say that, uh, where is it? I think somewhere here. There's a quote That talks about It goes yes is it it's quite unlikely that we will come out in late March 2022 and say this is it We've done our job and we terminate it. Kazak says, um, we would like to warn the markets in advance But only as much as reasonably possible. So what you're saying is is that Um, if they are going to, uh, reduce, uh, you know, uh bond purchases and taper then, um, They would, um, they they go into signal that they will they're going to tell the market that they will But for now they're keeping stung on it, which means that they're lagging behind Which obviously is the reason why you're seeing this happened, right? Euro's getting weaker and the dollar is getting stronger. So prices came up to this nice, uh supply zone Again from last week and, uh, if you guys were looking to sell Well done on that trade right there. Um, potentially looking for any kind of buy trades There could be some profit taking here But I think the path of these resistance for now is to the downside until the european central bank start to Get a bit more hawkish. Um, I think the uh, this this really is going to continue going to The downside or unless the dollar actually misses any kind of, uh, data targets So, uh, those are your options really. Um, but I think the path of these resistance is to the downside and will continue to be Uh, euro yen euro yen are stuck in a bit of a range This range between the supply and its demand zone we've got Let me move this up here slightly There we go. So, um, again with both really currencies, uh, quite, um, uh, weak in a sense that Um, the european central bank quite dovish and also the japanese yen are very dovish as well. So when you have to, uh, Uh, depreciating currencies you should actually enter into some sort of range. So, um, really nothing to write home about with this Not really a pair that i'm really too interested in at the moment. Um, I do think though once the euros start to Become hawkish, then I do think that this pair is going to be a really good pair to look for, uh, buy trades So any pullbacks and you want to try and get in early and anticipate some european, um, central bank, uh, hawkishness And any pullbacks to this one to eight levels would be, um, a decent opportunity to look for any kind of buy trades If there's risk off comes into the market any pullbacks into supply zones will be a sell Aussie dollar and uh, the australian dollar, uh, pretty much the rba are quite dovish the, um, Australia are suffering with Some more potential lockdowns from you know, the virus, um, and the rba have come out and they are pretty dovish as well They were in a wait and see approach whereas the, um, the federal reserve are looking to again, um, High crates at some point soon and I say soon but within maybe another year or two So they're ahead really ahead of the rba for now So again the path of these resistance it looks like it's to the downside and until the, um, rba really start to Um become a bit more hawkish Then I think there is some upside definitely a lot of upside and again the, uh, the australian dollar has lots of upside potential But we have to wait for the data to support that, um, rate, uh, potential rate hike or at least bond tapering narrative So, um, until that happens again the path of resistance I think is to the downside So more, uh, more downward pressure, um, probably on the australian dollar against the us dollar But again, if you want to be a seller then I'd probably recommend Not not financial advice, of course But this is going to be the area that you'd probably want to look for any kind of, uh, sell trades Moving on to the ozzy yen and ozzy yen Um, again the uh, my bias would be more to buy the australian dollar, but um with the, uh, australian Central bank not being as as hawkish as, um, expected I think if any any kind of pullbacks Are really some decent buying opportunities because I do think that the australian dollar should come good at some point Within the next few months But uh, I think in the short term It does look like the uh, the australian dollar might be slightly a bit weak But with the against the japanese yen I think it still should potentially have some upside some more upside potential at least range probably from here But any kind of pullbacks into any demand zones. I think I'll buy an opportunities I wouldn't necessarily look for buying the look to buy it again unless again, uh, you know There is a lot of risk of sentiment moving on to gold finally gold and gold again moves inversely to the dollar We did have a couple weeks ago a nice little Buy trade as prices come down into this demand zone Then as price come up into the supply zone again, if you want if you are looking to Sell the dollar then you're looking to the players to buy gold or if you're looking to buy the dollar And you can't get on getting on buying the dollar then you're looking to sell gold and this is basically what's happened Gold is a hedge against inflation But uh with the central bank the fed looking to high crates at some point Um money will be coming out of gold and going into the dollar reason why is because the dollar starts to Actually starts to pay pays in it pays a yield. It pays an interest whereas gold doesn't so You know people investors generally want a return on their On their investment other than just looking at holding, you know and asset appreciation So with that being said with the with the uh with the dollar strengthening You're seeing gold start to sell off and um, if you do want to be a buyer of gold potentially Meaning that the dollar you think the dollar is um, it's still going to stay a bit weak Or may you turn around this week? Then this is actually a really nice zone to look for any kind of buy trades for gold But personally, um You know gold isn't necessarily clear cut. I think the the the bias is really with dollar strength at the moment So we could see more short trades um Coming into focus so any kind of pullbacks then into that demand zone probably from the Uh 1810 area around here That would be a potential uh selling opportunity If you have the medium to long-term view that the dollar will strengthen and gold should weaken Um anyways guys, that's it for this week. Um, again, I hope you have a great trading week Don't forget to like subscribe and share and take care until the next video