Hello, Forex traders! We are back with all the latest and current hot news from the foreign exchange market. So if you are here to get some updates from the Forex world in order to make your upcoming strategy, you are on the right place. Check out all the hot Forex news for the first days of this month – from 1st to 5th December 2014 year right away! Get yourself concentrated and let`s get started!
The Russian international reserves with a slight growth
The Russian international reserves have registered a slight growth these days. In numbers this growth has reached the final amount of the reserves up to 420,5 billions of USD. The Russian Central Bank explains that the growth is about 100 millions of USD and it becomes a bit more positive for the future of the Russian financial stabilization. Meanwhile, according to a late report Russia owed foreign high-liquidity securities of about 118,1 billions of USD till 1st of September this year. Today, the USD/RUB is 53.475.
The Ukraine foreign currency reserves with a 10-year bottom
The reserves in the Central bank for Ukraine has reached recording low amount. Now, they amount has crossed the line under 10 billions of USD for the first time after March 2004 year. Of course, the political situation isn’t the only reason for this fact. The Ukrainian economy is going to a big collapse, too, which makes the financial situation even worse. The USD/UAH now is 14.9500. We remind you that earlier this year Kiev signed an agreement with the International Federal Reserve for a saving loan of 17 billions of USD, but the program this money was assigned to, didn’t go right, either.
Bundesbank has reduced its expectations for the growth in Germany
The German Central Bank – the Bundesbank – has reduced all of its positive expectations for the growth in German. Back in few months Germany believed that the inflation will be reduced and the economy growth will appear in 2016 year. Though, it seems that all of these plans aren’t going to happen –especially since the new analysis that shows the fight for the Eurozone to increase the consumer prices came out. The expectations for the inflation were to reduce from 1.1 to 0.9%. Meanwhile, the German Central Bank was planning the increase of the Domestic Gross Product from 1.4 to 1.9%. The main risk for the region is entirely connected with the worsening relationships with Russia after the decision of the EU to establish sanctions against Putin`s country as a reaction to the interference in Ukraine.
The cheap petrol might delay the inflation in Europe
Mario Draghi – the president of the European Central Bank – has made a statement with a suggestion that the cheap petrol is actually a factor for the delay of the inflation in Europe. Such a prognosis can be corresponded to the upcoming few months and Draghi said that his job would be to focus on the prices of petrol by all means. ECB has also made some huge corrections about its expectations towards the rise of the Domestic Gross Product in the Eurozone. The inflation prognosis is also reduced – from 0.5 to 0.7% for the upcoming 2015 year. All of these prognoses, though, are made by Draghi before the recent next deduction of petrol price.
Great Britain has increased its expectations for the Domestic Gross Product
It seems that no one`s expectations could be actually real or non-changeable. This has become clear after the Great Britain`s new prognosis towards the growth of the Domestic Gross Product of the country. In the beginning and the middle of the year, the government in Great Britain has small expectations, but now the Island is expecting to 3% of growth of the Domestic Gross Product for the 2014 year, while the primary prognosis pointed 2.7% of growth. Meanwhile, London has also improved and increased its economy estimation for the next year and now the capital is expecting a growth of up to 2.4% more. Many local experts claim that Great Britain has the fastest growing economy among all the other advanced and progressed countries not only in Europe, but from the entire globe.
USD becomes more and more expensive
The growth of the USD towards the Euro has become even more expensive during this week. This growth is mainly due to the waiting of key and important economy news. The USD also grows as a consequence of support by the Japanese Yen, too. GBP/USD, on the other side, is expecting to reach 1.56532. We also remind you that the EUR has been suffering from huge sales during the few days and this fact must be taken under consideration, too. The EUR/USD is now 1.23347.
Ok, guys, these were all the interesting Forex news for the last week. We expect you on the same time and place for the next Forex news again! And take your time to check out our forex bonus page for some of our fantastic offers.