Hello, dear traders! Another Forex week is gone and it is high time for you to get ready for the next one. Your preparation, though, is impossible without a quick view of the latest financial news. Here are all the hottest Forex news that might be interesting and useful for you to know – 10th – 16th August 2015. Well, prepare yourself for some more profits and get the best of the upcoming new trading week!
Industrial Manufacturing in USA With Great Results
It`s been about 8 months since American industrial manufacturing results haven`t been that impressive and optimistic. The latest report in the field has showed fantastic growth and it’s obvious that industrial business in USA has been again rising from the ashes. Of course, this success is not unexpected at all, because during all of these 8 months stimuli were applied and even though the frequent change in USD value, industrial unities in the country have done many improvements – especially during the summer period. Meanwhile, prices in the sphere have been increased during the last 3 months, but gradually. Currently, the growth of the American industrial economy field is signed with about 0.6%. Still, the numbers at an annual base are not that OK, because they are yet negative. Probably, industrial business will make more to increase its profits.
Turkish Central Bank Supports Turkish Lira After The Recent Drop
The recording drop of Turkish Lira during the last few months has put Turkish Central Bank in big worries. Still, the institution continues support the local currency and probably, at least small results will be seen soon. Of course, the measures must be drastic since Turkish Lira has so many to catch up for the last few months. On the other side, some experts in the field believe that no matter what kind of intervention Central Bank in Turkey will overtake, it will be only with symbolical meaning, because the currency needs some time to get recovered and the losses are too many to be handled so soon. We also remind you that Turkish Central Bank began controlling the situation with deduction of the main interest rate for the deposits in USD by reducing it from 3% to 2.75%. The results, though, are not seen yet and probably more measures and strategies must be considered. The political situation in Turkey, of course, is the main reason for Turkish Lira to meet so many difficulties in returning to its normal position.
Economy in Eurozone with 0.3% Rise During the Second Quarter
A recent report from Eurozone shows its results during the second quarter of the year. The papers show that the economy in the region registers small, but satisfying rise of about 0.3%. The inflation on annual base is still little, though – only 0.2%. The report also says that French economy remains in delay. Though, the balance comes from the largest and most powerful European economy. German economy signs expansion of about 0.4% at an annual base. But Germany is not the winner, because the report from Eurozone shows Latvia as the winner in the category of the best performance. The country registers expansion of 1.2%, while the next best countries after Latvia are Estonia and Greece. Portugal reports expansion of about 1.5%, too, which is a very good progress for the country.
Peking Increases Yuan Rate For First Time After Devaluation
The devaluation during the last few days in Peking has taken enough from the negative pressure on Chinese currency. This was a statement from Central Bank in China that has given it motivation to increase Yuan rate for the first time during these processes. Thus, the drop of the Chinese national currency was finally stopped and a big crash was probably prevented to happen and to put the country into a very difficult situation. Currently USD/CHY is 6,4003 and in Friday the national currency in China was finally put into a stable position. Meanwhile, Chinese Central Bank gas recently announced that it has a brand new method for calculation of the central parity rate and it is much more recommended from now since it is conducted to the fast changes in the market progress and processes. But there are yet experts in the field in the country, who believe that all of these processes are pointless and some completely new measures for devaluation are needed to put the national economy back in its leading positions.
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Ok, guys, these were all the latest Forex news up to now. We wish a fantastic and rich trading week. Do not forget to be here once again in few days, when we will update you with the next latest and hottest financial news from the market!