Important Forex News of 2018

We all know that news is an important part of our lives. If you don’t have a newspaper and have a cup of hot tea, the morning is incomplete for us. However, in addition to understanding all the news happening around you, it would be a good thing if you are familiar with what is happening in the country in the context of business, currency exchange and how to manage the country's finances. There are many websites, magazines and even mobile apps where people can read Forex news and understand the development of Forex brokers and make a great effort to effectively maintain the country's financial markets. Let us know some of the latest Forex news, which will give us a deeper understanding of different countries. Financial markets, foreign exchange policies and the overall financial situation of the country.

The Central Bank of China spent the second highest amount on foreign exchange transactions in 2018.

ING's economist Iris Pang confirmed that in 2018, the Chinese central bank spent $91.58 billion on foreign exchange purchases. It turns out that this is the second largest amount of foreign exchange currency purchased in 2018, and the maximum amount of foreign currency purchase is in September 2018, up to $119.39 billion.

This proves that foreign exchange purchase has become an indispensable part of national finances and has become a considerable part of the country. The budget is used to buy foreign exchange. Forex brokers are really important in managing foreign markets because they provide a lot of help in forex trading.

From now on, the euro is expected to be sideways

Many analysts at UOB have suggested that the euro is expected to be sideways from now on. The current upward pressure has been alleviated, and it is for this reason that the euro is currently likely to be sideways at least in the wide range of 1.128 to 1.144. The euro may take several weeks to finally break through these levels. As of now, the various indicators are almost flat, and recent trends indicate that they are in a consolidation phase.

The dollar fell and the pound fell to nine points against the dollar

In the recent meeting, the British pound is undoubtedly the winner. It has remained the highest in history for more than a week, staying at 1.29. The euro is still at 1.14, and its price has risen slightly due to the headlines of Brexit. Although the pound has soared to a high level as described above, the performance of most of the US dollar in the United States of America has not yet reached expectations. Except for the New Zealand dollar and the Australian dollar, it lags behind its peers.

These news provide us with many detailed information about the finances and currencies of countries, aren't they?