We all know that news is an important part of our lives. No morning is complete for us without looking at the newspaper while sipping on a hot cup of tea. However, with all the news about what is happening around, it is good if one is aware of what is happening inside the country in the context of business, currency exchange and more. And how the country's finances are managed. There are many websites, magazines and even mobile phone applications where one can read Forex news and know how foreign exchange brokers are progressing and working hard to effectively maintain the country's financial market. Let us know some of the latest currency news that will give us a deeper look at different countries & # 39; financial market, monetary policy and overall financial condition of the country.
The Chinese central bank has spent its second largest amount on Forex in 2018
ING economist Iris Pang confirmed that in 2018 the Central Bank of China spent a huge amount of $ 91.58 billion on Forex purchases. It turned out to be the second largest amount ever spent on currency purchases in 2018, while the largest amount ever spent on currency purchases was in September 2018, reaching $ 119.39 billion.
This is a testament to the fact that currency purchases have become an integral part of the finances of different countries and a significantly high proportion of different countries. budgets go towards currency purchases. Forex brokers are really important for managing the foreign market, as they help a lot in foreign currency exchange.
The EUR is now expected to trade sideways
Various UOB analysts suggest that EUR is now expected to trade sideways. The current upward pressure has been eased and therefore EUR is likely to trade sideways, at least for the time being, probably in the wide range from 1.128 to 1.144. It is expected that in the end the euro will be able to pass through these levels, which may take several weeks. The various indicators are almost flat at the moment and the recent movement indicates a phase of consolidation.
USD falls, GBP at cloud nine
The UK pound is the clear winner of the recent session. He stayed at his highest time for more than a week, staying at 1.29. EUR is still 1.14, which is slightly upgraded due to Brexit titles. While the GBP is rising high as seen before, the United States dollar is not meeting expectations in most parts. It lags behind its counterparts, with the exception of NZD and AUD.
Such news gives us many details about the finances and currencies of different countries, right?