ForexMart's Forex News

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  1. #441
    Senior Member KostiaForexMart's Avatar
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    ForexMart's Forex News
    January 27. Central banks are buying gold at the fastest pace in half a century

    According to a report by economists of the International Monetary Fund and the University of California at Berkeley, gold not only did not leave the international reserve currency, but also significantly increased its performance, as the gold reserves of the world's central banks increased after the global financial crisis of 2008-2009.

    Experts note that in the third quarter of 2022, leading central banks bought more gold than in any other quarter for 55 years. The main buyers at the same time were banks of developing countries, such as Russia, China, India, Turkey, Argentina, Hungary and Belarus.

    Among the main reasons for the increase in purchases, analysts note the popularity of gold as a traditional and safe means of saving at a time when a number of countries are subject to financial sanctions.

    An interesting fact is that Russia, Iran and other countries that are subject to US sanctions can now combine blockchain technologies with gold to launch a digital currency that can compete with the dollar. Blockchain will allow these countries to make transactions with gold without actually redirecting coins or bullion.

    Moreover, gold today is the only significant asset that is not controlled by any country and that cannot be forged. It is also the only asset that largely guarantees financial confidentiality.
    Regards, PR-Manager ForexMart

  2. #442
    Senior Member KostiaForexMart's Avatar
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    in ro ham eslah kon:
    January 30. The main economic events of the day: January 30, 2023

    At the end of last week, the dollar managed to finish trading in positive territory, and its DXY index showed a modest increase of about 20 points. Last week, which was the last full trading week of the month, turned out to be extremely volatile and saturated with the publication of important macro statistics.

    The current week promises to be no less interesting: meetings of the three largest world central banks (Fed, Bank of England, ECB) are expected at once, at which decisions on rates will be made. Market participants expect an interest rate increase of 0.50% from the ECB and the Bank of England, but only 0.25% from the Fed.

    The week will end with the publication of key data from the US labor market: the US Department of Labor will present a monthly Non-Farm Payrolls report with data for January.

    The main and only event of Monday, January 30, will be the publication of preliminary data on German GDP for the 4th quarter. Since the German economy is the locomotive of the entire European economy, a high value of the GDP indicator is considered a positive factor for EUR, and a low one is considered a negative factor.

    Analysts predict that German GDP growth in the 4th quarter of 2022 amounted to 0%, and in annual terms 0.8%. The previous values were marked at the levels of 0.4% and 1.2%, respectively. The data is better than the forecast may strengthen the euro in the short term.
    Regards, PR-Manager ForexMart

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