We all know that news is an important part of our lives. No morning is full for us without taking a look at the newspaper while we have a hot cup of tea. However, along with all the news of what’s going on around you, it’s good to know what’s going on in the country in the context of business, currency exchange, and so on. and how the country’s finances are managed. There are many websites, magazines and even mobile phone apps where you can read news about Forex and find out how forex brokers progress and strive to keep the country’s financial market effective. Let us know some of the latest foreign exchange news, which will provide us with a deeper insight into the financial market of different countries, foreign exchange policies and the overall financial situation of the country.
The Central Bank of China has invested the second largest amount in Forex in 2018
Iris Pang, an ING economist, has confirmed that in 2018, the Central Bank of China had spent a total of $ 91.58 million on foreign exchange purchases. This has become the second most invested ever in foreign exchange purchases in 2018, while the largest amount spent on foreign exchange purchases was in September of the same year 2018 and reached 119.39 millions of dollars.
This is a testament to the fact that foreign exchange purchases have become an integral part of the finances of several countries and a significantly high part of the budgets of several countries is devoted to foreign exchange purchases. Currency brokers are really important in the management of the foreign market as they help a lot in currency exchange.
The euro is expected to trade sideways from now on
Several UOB analysts have suggested that from now on EUR is expected to trade sideways. Current upward pressure has eased and it is for this reason that the euro is likely to trade sideways, at least for now, probably within the wide range of 1.128 to 1.144. It is expected that it will take up to a few weeks to reach EUR to exceed these levels. Several indicators are almost flat so far and the recent move indicates the consolidation phase.
The USD falls, the GBP in the new cloud
The British pound is the clear winner of the recent session. It held at peak time for more than a week and stood at 1.29. The euro is still at 1.14, which has gotten a slight update due to Brexit headlines. Although the GBP is rising as seen earlier, the US dollar is not working up to the expectations of most parties. It is lagging behind its counterparts except NZD and AUD.
This news provides us with many details about the finances and currencies of various countries, right?