Important Forex News of 2018
Website design By BotEap.comWe all know that the news is an important part of our lives. No morning is complete for us without glancing at the newspaper over a cup of hot tea. However, along with all the news going on around you, it is good if one is aware of what is going on within the country in the context of business, currency exchange, etc. and how the country’s finances are managed. There are many websites, magazines and even mobile phone apps where one can read Forex news and know how forex brokers are progressing and putting their hard efforts to maintain the country’s financial market effectively. Let us know about some of the latest currency news, which will give us a deeper insight into different countries’ financial markets, currency policies, and the country’s overall financial situation.
Website design By BotEap.comThe Central Bank of China has spent its second largest amount on Forex in the year 2018
Website design By BotEap.comIris Pang, an economist at ING, has confirmed that in the year 2018, the Central Bank of China spent a whopping $91.58 billion on Forex purchases. This has turned out to be the second largest amount ever spent on currency purchases in the year 2018, while the largest amount ever spent on currency purchases was in September of the same year 2018 and reached 119.39 billion dollars.
Website design By BotEap.comThis is a testament to the fact that currency purchases have become an integral part of the finances of various countries and a significantly high part of the budgets of various countries is spent on currency purchases. Forex brokers are really important in foreign market management as they help a lot in currency exchange.
Website design By BotEap.comThe EUR is expected to trade sideways from now on
Website design By BotEap.comSeveral UOB analysts have suggested that the EUR is expected to trade sideways from now on. The current bullish pressure has eased and it is for this reason that the EUR is likely to trade sideways, at least for now, probably within the broad range of 1,128 to 1,144. The EUR is expected to take several weeks to finally break these levels. Several indicators are almost flat as of now and the recent movement indicates the consolidation phase.
Website design By BotEap.comUSD falls, GBP on cloud nine
Website design By BotEap.comThe British Pound is the clear winner in the session that took place recently. It held at its highest level for more than a week, staying at 1.29. The EUR is still at 1.14, which has seen a slight improvement due to the Brexit headlines. While the British pound is skyrocketing as seen above, the United States of America dollar is not performing to expectations in most quarters. It is lagging behind its counterparts, except for NZD and AUD.
Website design By BotEap.comThis news gives us a lot of details about the finances and currencies of various countries, doesn’t it?