What will happen? The US Q2 Gross Domestic Product will be announced at 15:30 MT time (GMT+3) on Thursday, July 29…
China's investments in clean energy sources go up, but dive in America
In 2017, investments in renewable energy projects reached a record level and accounted for almost $280 billion. The most attractive for investors were technologies for the production of solar energy. In its development, China is definitely leading, according to the report "Global Trends of Investments in Renewable Energy", which was prepared by the United Nations Environment Program with the active assistance of Bloomberg New Energy Finance. Its authors noted that for the eighth year in a row investments in this stuff surpassed $200 billion.
The unprecedented growth in solar energy investments around the world clearly demonstrates how the global energy system is changing and, what’s more, what are the economic benefits that promise such changes. That’s what UNEP head Eric Solheim told, whose words are cited by the UN news center. He added that investments in renewable energy sources create jobs that require higher qualifications. At that time, work in this area is paid better, not to mention the fact that the development of clean energy sources appears to be crucial contribution to protecting the environment.
Global investment in the development of solar energy grew by 18% compared to 2017 and amounted to approximately $160.8 billion.
The overall volume of investments in renewable energy production, excluding hydroelectric power plants, amounted to $ 279.8 billion. Solar energy accounts for 57% of this amount. It definitely exceeds the volume of investments in the capacities operating on gas and coal, which accounts for no more $ 103 billion.
China happened to be the leader in investment in renewable energy. This Asian country accounts for more than half of all fresh installations for the production of solar energy. Among other countries that actively use solar panels one should mention Australia, Mexico and Sweden. However, in America and the EU investments in this cutting-edge technology slumped respectively by 36% to $ 40.9 billion.
Today the Fed will make a policy statement at 21:00 GMT+3. This event will affect all the currency pairs with the USD and thus almost the all Forex market!
Hong Kong stock index extended a decline sparked by China’s tech crackdown. Tesla posted better-than-expected results. Jump in!
What events to follow and how to trade during the week of July 2-6?
EUR/USD retraced to 1.1870 after breaking out this level. It should be just a natural sell-off ahead of the further rally up.
The Fed held a much-awaited meeting yesterday. The bank hasn’t made any policy changes. As a result, the USD weakened and EUR/USD rocketed. Jump in to know all the latest news!