We all know that news is an important part of our lives. No morning is done for us without catching a glimpse of the newspaper while sipping a hot cup of tea. But along with all the news about what is happening around, it is good if you are familiar with what is happening inland in connection with business, currency exchange, etc., and how the country's economy is managed. There are many websites, magazines and even mobile phone applications where you can read Forex news and know how currency brokers are progressing and putting in their hard efforts to maintain the financial market in the country effectively. Tell us about some of the latest currency treatments that give us a deeper overview of different countries & # 39; financial markets, foreign exchange policies and the country's overall financial condition.
China's Central Bank has spent its second largest amount on Forex in the year 2018
Iris Pang, an economist at ING, has confirmed that the Central Bank of China had spent $ 91.58 billion in Forex purchases in 2018. This has proven to be the second largest amount ever spent on foreign exchange purchases in 2018, while the largest amount ever spent on foreign exchange purchases was in September of the same year 2018 and was as high as $ 119.39 billion dollars.
This is a testament to the fact that currency purchases have become an integral part of the economy of different countries and a markedly high proportion of different countries & # 39; budgets go to currency purchases. Forex brokers are really important in managing the foreign market as they help a lot in the currency exchange.
EUR is expected to trade sideways from now
Various UOB analysts have suggested that the EUR is expected to trade sideways from now on. The current upward pressure has been alleviated and it is for this reason that the EUR is likely to trade sideways, at least so far, probably in the broad range from 1.128 to 1.144. It is expected that it may take up to several weeks for the EUR to finally go through these levels. Various indicators are almost flat right now and the recent move indicates the consolidation phase.
USD falls, GBP at cloud nine
The UK pound is the clear winner in the recent session. It remained at its highest for more than a week and remained at 1.29. EUR is still 1.14, which has been slightly upgraded due to the Brexit headlines. While GBP is hovering high as seen before, the United States dollar is not meeting expectations in most parts. It falls behind its peers except for NZD and AUD.
Such news gives us a lot of details about financing and currencies in different countries, don't they?