Hello, dear Forex lovers and fans! As the tradition says, we are back here to inform you what has happened during the previous week on the market. For this purpose we are ready now with all the latest Forex news. Putting them at once place and in brief, you can easily check them out and consider your upcoming weekly trading strategy. So if you are focused enough and concentrated, let`s go on with the Forex news for the period between 19th and 25th of January 2015 year.
EUR with a crash after the ECB decision
Last week came with a sudden crush for the EUR. The crash came right after the significant decision that the European Central Bank has made during the last few days. We remind you that ECB has officially announced its brand new program for the quantitative facilities. The program is expected to be massive and before it began, the EUR actually felt it. The unified currency has reached its lower level against USD since September 2003 year. And now the EUR/USD goes for 1.1235. In addition to this, the unrepresentative outcome from the upcoming elections in Greece leads to the massive EUR sale at the background of the apprehensions that the country may actually soon leave the Eurozone.
EUR and USD will achieve parity till the end of 2016 year
As we have already told you, in Friday, EUR went too cheap after the ECB has announced its new plans for recreation of the economy in Eurozone. But many experts accept this crash as something more significant and interesting for a bit farer future. Financial professionals believe that EUR and USD will achieve parity till the end of the next 2016 year. According to these experts that improving USA economy will be the main reason for the EUR to become closer to its opponent of USD. Meanwhile, the country members of the Eurozone seem to be absolutely ready to get out of the slow growth period. Naturally, the problems are not gone away from European Union, but the fight with USD will be definitely big and complex.
Croatia fixes its currency towards Swiss Franc
The last week was entirely connected and oriented to the growth and events that happened to and because of the Swiss Franc. Probably this is the main reason why the Central Bank in Croatia has made a strange decision to fix the national currency towards the Swiss Franc. The move was settled with an aim for protection of 60 thousands of borrowers, who have borrowed different loans in Swiss currency. The plan was made up from the government of Croatia and the deputies accepted it positively. According to the plan the course will be fixed for the next 12 months and 1 Swiss Franc will remain with the same cost of 6.39 Kunas.
The Economy Growth in South Korea with a delay
The economy growth in South Korea turned to register a delay. The delay is officially referred to the third quarter of the previous 2014 year. According to the official reports the economy growth has never been so slow for the past 2 years. The investments became less even after the interest rate was reduced twice during the last year. Meanwhile, though, the Domestic Product Gross in South Korea has increased with about 0.4% according to the precious quarter, when the economy growth was about 0.9%. The good news about South Korea is that the last year was comparatively successful one for its economy, because the annual economy growth is positive and it is about 3.3%, while the growth in 2013 year was only 3%.
The retail sales in Great Britain exceeded the prognosis
The prognosis for retail sales in Great Britain for December was, of course, positive and optimistic. Though, the actual numbers for the retail sales in December 2014, as a matter of fact, have exceeded the expectations. The search of different goods on the Island – including the fuels – has been increased with up to 0.4% on monthly basis. Moreover – the last 8 months for the searches and purchases of food products have almost reached record numbers. Meanwhile, the ONS that is in charge of the national statistics, have announced that the retail sales are with a growth of 0.2% without counting the fuels, which is also more than success for the UK economy in general. The ONS said that the sudden growth began not in November as usual, but in the beginning of October and in December the regular holiday-styled growth exceeded, too.
Ok, guys, we are ready for all the hot and interesting Forex news for the previous few days. Do not miss to check them out again next week at the same time! See you soon!