Goldman Sachs released a report explaining that Asian currencies exposed to technology are performing differently than Asian currencies not exposed to technology. This cost someone a graduate degree.
The firm's analysts have determined that the artificial intelligence boom—a thing currently happening—is affecting the prices of currencies in countries where artificial intelligence things are manufactured. They made a list. The list contains Asian currencies. Goldman Sachs clients paid for this list.
Retail traders are now panic-searching "which Asian currency" on Reddit because they assume Goldman published this research to help them. Goldman published this research because compliance requires them to send something to clients after charging them seven figures for market access. The research division is technically a cost center. This report is the financial equivalent of a Denny's menu.
The specific insight here is that technology exposure has become a key differentiator for currency performance. Prior to this revelation, Goldman Sachs analysts apparently believed all Asian currencies moved in perfect lockstep based on the lunar calendar and nothing else mattered. They have now updated their model to include "does the country make computer chips" as a variable. Breakthrough stuff.
Some guy in Dayton just opened a position in an Asian currency ETF because he read "AI boom" and his brain released dopamine. He will not check which currencies are in the ETF. He will not check if those currencies are the ones Goldman likes. He will check the price in four hours and feel something.
Goldman Sachs has been tracking global currency markets for decades using thousands of economists and more computing power than most countries. Their conclusion: the ones tied to the sector making money are doing better than the ones that are not.
They charged extra for the formatting.
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