Market updates and forecasts

Get the latest economic news from ForexMart, including updates on the financial market, central banks' policy announcements, financial indicators, and other relevant news which can have an impact on the industry.

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The main events by the morning: May 21


May, 21 2024
watermark Economic news

  • The US Congress is concerned about the gradual abandonment of the dollar. Republican Thomas Massey said that countries are forced to abandon the American currency, including due to inflation. He is confident that other countries will start using alternative currencies, and the United States will have to rely only on the resources of its citizens.


  • China continues to get rid of American debt by selling a record amount of U.S. bonds in the first quarter of 2024. During this period, China sold bonds worth $53.3 billion, which is a historical record. Experts believe that the reason for this is the use of the dollar by the United States as a weapon. Contradictions arise, as users of the dollar see injustice in its use in economic conflicts.


  • The UN Security Council has not adopted a Russian draft resolution on the non-deployment of weapons in outer space. Seven countries voted for the draft, including Russia and China, while Switzerland abstained. Russia's permanent representative to the UN, Vasily Nebenzia, said that the rejection of the resolution proves the intention of the United States to militarize outer space.


  • France has supported the International Criminal Court's request for the arrest of Israeli officials and Hamas leaders. The ICC's demand became known yesterday. Washington rejected this demand, and President Biden said he saw no signs of genocide in the Gaza Strip.


  • Russians are less likely to repay mortgages ahead of schedule. In the first quarter of 2024, 432.7 billion rubles were spent on early repayment of mortgages, which is the lowest in the last four years. The reason for this is the high key rate, because of which citizens prefer to leave their excess funds in the bank at a high interest rate.

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Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.