Hello, dear Forex lovers! How are things with you and how good your profits have become? If this week wasn’t that successful for you, don’t hurry to get disappointed too fast, but simply update yourself with the latest things and events that took place at the financial market! We present you our regular portion of the latest and hottest Forex news – 16th to 22nd March 2015 year! So let`s get started!
USD Has Restored Its Losses After The Fed Meeting
In Wednesday the USD has suffered many losses. The Fed meeting has brought unexpected news as to the American market members and the USA-based economy in general. The investors, on the other side, have reacted quite emotionally, which has leaded to a deduction of the USD value with about 3%. Though, the huge growth of the American currency succeeded to survive this shaking event, as well, and currently the USD has restored all of its losses in a flash of a second few days after the Fed meeting. Up to now the EUR/USD has reached the stable for the previous few weeks amount of 1.07790.
China Remains OK with The Current Rate of The Chinese Currency CNY
To be more specific the Central Bank in China and the biggest experts as to the national economy claim the current CNY rate is suitable for the moment and for the overall program for future stimulation. The reason why China is Ok with the latest CNY rate is that the Chinese government believes it corresponds to the foreign search and supply, as well as to the newest national economy fundaments that have recently established. By the way, in Friday the CNY finished the week with superb results – after some selling with USD – which results are the best ones from 2007 year. Of course, the Fed meeting in Friday in USA has made China reconsider the growth of CNY, as well.
Putin Makes an Offer for Establishing of a Monetary Unit
Putin has made its offer to Belarus and Kazakhstan about one unified monetary unit. Only Russia will be the other eventual country to be included in the unit. The Russian president believes that the close work with the neighbors as to the financial market in the region will support the stabilization for the three countries. Moreover – Putin claims that the establishment of this unit is not enough, because his main plans is to make this unit to work for long-term period in order to make the future more stable as to the monetary policies of the countries nearby Russia. According to Russian media and journalists, Putin has succeeded to attract the attention of the other two countries ` representatives. The unit will also take part in the investment, economy and trade partnership.
Eurozone Has Reported on An Excess in Its Current Account Balance
The latest news from the Eurozone is probably positive since recently a report pointed an excess of about 29.4 billions of USD for January 2015. The excess is in the current account balance and the experts from the unified European zone are confident as to the next few months. They predict more excess – mainly in the sphere of warehouses and services. The current positive balance leads to another conclusion, too. The Eurozone excess means also that region is a net creditor for the rest of the world. Of course, an eventual negative balance shows the opposite – that Eurozone is a net credit accepter from the rest if the world.
Norway Has Surprised The World with Its Main Interest Rate News
Norway, which is a country that very rarely, surprises the world either with its policy, or with some moves for the economy growth, has this time shocked the world with its latest decision. During the last few months it was only about a matter of time for the country to change its main interest rate. However, few days ago Norway has surprisingly decided to preserve the current fixed value of its main interest rate. Most of the market members have expected shrinking of about 25 basis points. Though, Norway is still with its old interest rate amount of 1.25%. However, meanwhile, the Central Bank in Norway warned the entire country that the perspectives of the national economy have become less and lower. And if in December the predictions for 2015 year as to the economy in Norway were positive, they aren’t now. The USD/NOK is now 8.0857.
Ok, guys, up to now these were the most interesting parts of the latest Forex news. Please, be here again next week, because we will keep inform you about what`s going on the market by all means! Have a great Forex week and have even great profits during the next few days!