Skopje, 19 September 2023

The Manager of the Financial Market Operations Department, Zoran Panovski, participated in the Regional Conference on Technical Analysis of the Financial Markets organized by the Association of Market Technicians from Southern and Eastern Europe - SEEMT.  In his introductory speech, Panovski emphasized that the National Bank actively participates in the international financial markets, whereby it bases the decisions to invest the foreign reserves on an in-depth economic and financial analysis, with the support of a multitude of technical and quantitative indicators, which contribute to making timely investment decisions based on information and to appropriate risk management. Moreover, he also referred to the importance of the technical analysis, underlining that it provides significant guidelines to investors and market participants, as it can be applied to all financial instruments, including shares, bonds, commodity products and currency pairs. It finds general application on the commodity product markets and the foreign exchange markets, where there are high-frequency data and investors focus on short-term, but also recurrent, cyclical price movements. Hence, he emphasized the need for further strengthening of financial education and the appropriate awareness of investors, which is of extraordinary importance when making relevant investment decisions.

The Manager Panovski pointed out that one of the strategic objectives of the National Bank is financial education and inclusion, which is closely related to the development of domestic financial markets. Financially educated population and financial experts contribute to adjustment to the changes in society, domestic economy and environment, to increased awareness of financial opportunities and risks, which is a precondition for the development of financial markets.