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    Economic and company news by ForexMart

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    AppleFX

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    Re: Economic and company news by ForexMart

    Post  AppleFX on Tue Feb 21, 2017 4:40 am



    February 21, 2017

    U.S Gasoline Supply Piled Up

    Crude oil prices stayed in the holding pattern as it awaits for a much clearer data regarding the possible consequences. OPEC have largely complied to support and keep prices away from debts while the increasing oil manufacturing in the United States serves as a counterbalance. Another problem had risen as the gasoline inventories unexpectedly rack up towards a surprising level.

    According to EIA, the US crude production recorded 259 million barrels, reaching its highest level upon tracking back its data in 1990, making the worst gasoline glut after 27 years. The glut is caused by high volume of production by which the manufacturing in U.S. continuously expands towards a range of 9 to 10 mb/d.

    The rising stocks for oil emerged due to the possible offline maintenance by the refiners, however, it is much more expected that the stockpile would decline. While the current case is that the inventories for refined products and crude both climb higher, therefore, the market has something to worry about. Moreover, the increase helped sustain the rising demand for oil.

    AppleFX

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    Post  AppleFX on Tue Feb 21, 2017 4:48 am

    February 21, 2017
    UK Policymakers Clamor for more Transparency in Offshore Territories
    Policymakers in the UK are pressuring UK PM Theresa May to increase transparency with regards to the business guidelines for offshore territories, including the British Virgin Islands. A total of 80 Parliament members are clamoring for amendments to the Criminal Finances Bill which is slated to be returned to the House of Commons next week. According to these Parliament members, the lack of transparency with regards to the business dealings within offshore territories such as Cayman Islands and Bermuda might be used by criminals as an advantage to hide ill-gotten assets as well as curb tax policies.

    AppleFX

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    Post  AppleFX on Tue Feb 21, 2017 5:12 am


    Launch of “Analytical Reviews” section


    Dear clients!

    We are glad to inform you about the launch of “Analytical Reviews” section on our website. Since then you won’t have to look for financial analytics on third-party resources – you just need to visit the relevant section on the ForexMart website.

    In this new analytical section it will be possible to find up-to-date information about popular currency pairs, trade ideas and recommendations, as well as analytical reviews, forecasts, charts and overall description of the current market situation.

    We hope that this innovation makes your trade more convenient and pleasant. Stay tuned and remain abreast of the latest economic trends with ForexMart!

    AppleFX

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    Post  AppleFX on Wed Feb 22, 2017 5:23 am


    February 22, 2017

    Hong Kong Ex-Chair Tsang Charged with Misconduct, Faces 20-Month Jail Sentence

    Donald Tsang, the ex-chief executive of Hong Kong, has just been charged with grave misconduct while in office and has been sentenced to 20 months’ worth of imprisonment. This recent event is now being tagged as a conclusion for a downfall of a former person of political power who helped Hong Kong get through its worst financial crisis some time ago. Tsang has been charged of failure to properly disclose a certain conflict which appeared after Tsang rented out a luxury apartment whose owner was then applying for a broadcasting license in Hong Kong.

    AppleFX

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    Post  AppleFX on Wed Feb 22, 2017 6:16 am


    February 22, 2017

    Singapore-Britain Deeper Collaboration

    The sovereign states, Britain and Singapore held yesterday the renewal of their bilateral ties proving their dedication for stronger links with regards to economy and business. The partnership was signed by the countries representatives, Lim Hng Kiang, Singapore’s Minister for Trade and Industry and Liam Fox, the Secretary of State for International Trade from Britain.

    Mr.Lim stated that this joint commitment will fight against protectionism and will continue to implement the free and open trade policy. He added that they will further work for an environment that allows for an open global trading.

    The arrangement supplemented new programs which involve building trade policy capacity and creating an appointed committee that supports greater collaboration regarding trade and investment of the two countries.

    AppleFX

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    Post  AppleFX on Thu Feb 23, 2017 9:28 pm


    February 23, 2017

    Decline in Australia’s Business Investments

    Business investments in Australia dropped for the fourth straight quarter as miners lessened while other sectors had increased their plan for expenditures for the year giving a hint of recovery. On Thursday, the report from the Australian Bureau of Statistics showed the decline up to 2.1 percent for the fourth quarter amounting to A$27.6 billion equivalent to $21.18 billion, higher than the expected downturn of 1 percent.


    This was mainly influenced by the mining sector where spending has declined by 9 percent despite the recent increase in investments in the manufacturing sector. Even if the expenses on equipaments, factories and machineries which could boost the economy, were not sufficient after an unexpected decline in the last quarter. It is anticipated for figures to reach 0.6 to 0.7 percent economic growth in reports next week.

    AppleFX

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    Post  AppleFX on Thu Feb 23, 2017 9:49 pm



    February 23, 2017

    Venezuelan Food Expenses Affected by the Economic Crisis

    A couple of years later the negative growth in the economy of Venezuela continues which brought about depressing stories regarding scarcity and difficulties every month. A particular news was published that according to the yearly national survey, almost three-quarters of the citizens stated for suffering weight loss with an average of 19 pounds during 2015 up to 2016.

    The National Survey of Living Condition were supervised by three major universities in the country together with other groups of researchers. Further results include that respondents cut their meals and apt to ate less than 2 meals per day with a percentage rate of 11.3 in 2015 up to 32.5 percent in the previous year with an equivalent of 9.6 million individual.

    The economic tailspin in Venezuela started in 2014 due to recession in oil prices worldwide coupled with the unexpected government fiscal policy and excessive dependence towards imports which caused the economy to make an abrupt stop.

    AppleFX

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    Post  AppleFX on Thu Feb 23, 2017 10:25 pm


    February 23, 2017

    Fed Officials Not Too Eager on Implementing Rate Hike in March

    Contrary to the general market sentiment, the FOMC is not so keen on raising interest rates this coming March and might wait until such time that the market feels right enough to actually implement a rate hike. The central bank is more keen than ever to implement at least three interest rate hikes this year but its officials are not losing their patience just yet to actually impose a rate hike anytime soon. However, this could change depending on the release of subsequent economic data in the coming days, as these will become indicators on whether there is an actual need for an interest rate hike from the Fed.

    AppleFX

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    Post  AppleFX on Mon Feb 27, 2017 5:27 am


    February 27, 2017

    Expected Shift in Crude Futures as Much as $2B Will Put an End to Oil Glut


    In the upcoming week, the passive investment funds are expected to rise to $2 billion from long-term to short-term crude futures, while the energy market surges after OPEC output reduced its supply. This is expected to put an end to global oil glut accumulated over two years of price war. Excessive oil supply in international inventories drove the prices to multiple year lows.


    The Brent contract LCOK7 price established at $56.31 a barrel on May, while the LCOM7 price settled at $56.55 a barrel in June.On the other hand, the limit for the West Texas Intermediate crude remains the same. The gap between the first month and the subsequent month on Brent contracts LCOc1-LCOc2 has tightened from 79 cents down to 5 cents. However, both June and December contracts LCOM7-Z7 traded closely on Friday.

    AppleFX

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    Post  AppleFX on Mon Feb 27, 2017 5:40 am


    February 27, 2017

    Macri’s Reforms Showed Signs for Economic Resurgence in Argentina

    The economy of Argentina beefed up by 1.6% during the month of December compared with last month result according to the data from the government. This growth provided hints about the country’s possible expansion for the fourth quarter subsequent to an extensive economic depression. The Argentine Republic declined to 0.1% in December on an annualized basis and down by 2.3% in 2016 versus 2015. However, the current President of the country, Mauricio Macri executed several market-oriented reforms with a purpose of economic liberalization and inspiring additional investments which further influenced rampant inflation in the short-term.

    The monthly development took place in December demonstrates the projected rebound of the economy in Q4 of 2016 following the four consecutive worst quarters. The INDEC, national statistics agency based in Buenos Aires, said the GDP data for Q4 is scheduled to release immediately after the nearby month.

    AppleFX

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    Post  AppleFX on Tue Feb 28, 2017 2:14 am


    GBP/USD Fundamental Analysis: February 28, 2017

    The GBP/USD took a heavy hitting during the previous session as the pair’s bulls were unable to create a continuously good run for the pair since every time a bounce in the pair manifests, the pair immediately drops as it is met with major selloffs. There are still overshadowing concerns with the currency pair since the Brexit process is still ongoing, and this ensures that the GBP/USD pair will be unable to go higher for quite some time.

    The GBP/USD pair was hit even more harder yesterday after rumors that Scotland is currently planning to implement another referendum in their favor in order to discern whether it would still be beneficial for them to continue becoming part of the UK. If this happens, then this would be disastrous for the UK economy since other parts of the UK might also be encouraged to do the same. This is probably the worst that could happen to the UK, especially since Scotland had initially voted to remain part of the European Union but was outvoted by the majority of UK members. But then further confirmation of this particular rumor never happened, and this caused the GBP/USD pair to bounce back from 1.2400 and is currently trading at just under 1.2450 points.

    There are no major news releases expected from the UK today but the US will be releasing its Preliminary GDP data and consumer confidence data. The currency pair would most likely remain under pressure for today, with the 1.2500 barrier presenting a possibly limit to any kind of uptrend in the pair.

    AppleFX

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    Post  AppleFX on Tue Feb 28, 2017 2:21 am



    USD/CAD Fundamental Analysis: February 28, 2017

    The USD/CAD had a strong bullish trade during the previous session after the bulls were able to regain its dominance over this particular currency pair. The bulls had previously attempted last week to gain control over the pair after the release of a dismal retail sales data from the Canadian economy but was eventually unable to do so after the release of a very strong CPI data. The bulls had also attempted to break through yesterday but has failed from last week’s range highs.

    The currency pair’s strong resistance and support barriers of 1.3060 and 1.3000 respectively has led the market to believe that the USD/CAD pair is in for some major uptrend and is evident of the importance of the support barrier with regards to the struggle between the pair’s bulls and bears. Since the bears have constantly failed to break through this pair, the pair’s bears are currently in full dominance of the USD/CAD. The USD/CAD was previously consolidating within the 1.3100 barrier but a surge in the value of the USD helped in boosting the currency pair following’s Trump’s statement that he will be adding up the country’s infrastructure spending. The pair eventually increased in value after oil prices somewhat dropped in value.

    This drop in oil prices could cause trouble for the USD/CAD pair in the short and medium term since Canada is very reliant on oil prices. The pair’s bears could become seriously affected once the dollar strength and weak oil prices come together since this could trigger the pair to move significantly upwards.

    There are no major news coming from the Canadian economy today but the pair could get some volatility from the US consumer confidence data and Preliminary GDP which will be released today. The USD/CAD could possibly consolidate within 1.3100-1.3200 points with a bullish undertone.

    AppleFX

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    Post  AppleFX on Tue Feb 28, 2017 3:25 am


    EUR/USD Fundamental Analysis: February 28, 2017

    The market saw a very dismal durable goods data reading while Trump continues to further delay his long-awaited tax cut policies, thereby contributing to the further dwindling of the value of the US dollar. As a reaction to this particular phenomenon, the EUR/USD pair was able to reach 1.0630 points in a matter of a few hours and seems poised to move further.

    However, the US dollar suddenly reverted its losses for no apparent reason at all and this caused the EUR/USD to drop further to 1.0600 before settling at just over 1.0580 points. Some market analysts are crediting this sudden surge in the dollar’s value to Trump’s previous statements regarding the infrastructure increases, a favorite campaign topic of Trump during his candidacy. Previously, there have been rumors swirling around that this infrastructure policies would not come into effect until 2018, but since Trump has already re-discussed this particular proposal, the market has since then been speculating that the increase might be implemented within the year which could help in keeping the buoyancy of the market. The USD has been able to revert its losses as a result but the real determinant here would be the rate statement next month as well as the FOMC rates.

    Now that the market is slowly shifting its focus from Trump’s policies towards the move of the Federal Reserve, it is highly likely that the market’s movements will be relying on the Fed’s decision on when they will be implementing the next rate hike.

    There are no major releases coming from the eurozone today but the US will be releasing its consumer spending data as well as its Preliminary GDP data today which could bring in added volatility to the USD and affect the EUR/USD pair. The currency pair is expected to continue consolidating with bullish undertones for today.

    AppleFX

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    Post  AppleFX on Tue Feb 28, 2017 5:26 am


    February 28, 2017


    Consumer Confidence of the Eurozone Plummeted

    The consumer confidence of UK for this month declined while the British currency weakened. The prices rose and wage growth dwindled which influenced the Britain’s economic powerhouse.

    The monthly household sentiment of GfK had a dipped and stayed below zero for the 10th month. The level for major purchases also decreased which implied that British citizens probably controlled their expenditures.

    Another assessment by YouGov coupled with the Centre for Economics and Business Research is the job security index which further decline reaching its lowest result three years ago.

    After the Brexit referendum, the private consumption as well as the services industry have compelled the economy, however, it set out some signs of economic strain. During the EU exit, the inflation increased as the energy cost climb higher together with the 16 percent cut in the sterling pound.

    Furthermore, the growth of credit had a steep decline in December whilst retail sales inched up at its slowest pace since January 2014.

    AppleFX

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    Post  AppleFX on Tue Feb 28, 2017 5:29 am


    February 28, 2017

    Steady Economic Growth of Australia as Exports Rises

    The Australian economy is assumed to have recovered after surge in demand for exports and increase in spending from consumers and government. It is predicted that GDP report to be released on Wednesday with grow by 0.7 percent in last quarter after a decline of 0.5 percent in previous quarter. Companies’ earnings rallied as much as 20 percent in fourth quarter driven by an almost 50% boost from miners.


    Rise in money flow from exports has a big impact to country’s income and its nominal growth. This signals Australian economy to surpass technical recession as it continues to move optimistically.

    AppleFX

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    Post  AppleFX on Tue Mar 07, 2017 4:43 am


    March 7, 2017

    Brexit Supporters Push May to Examine EFTA Comeback

    UK Prime Minister Theresa May is recently being urged by a panel of Brexit-supporting lawmakers to consider bringing the country back into the European Free Trade Association, a four-country organization which UK left way back in 1972 as a means of a starter to its trade negotiations which immediately follows the Brexit process. UK was one of the founding members of the said organization in 1960 but eventually left the EFTA in order for the country to become part of the European Union. Rejoining the EFTA could mean that the UK would be able to make use of the several free trade agreements created within the said organization.

    AppleFX

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    Post  AppleFX on Tue Mar 07, 2017 5:19 am


    March 7, 2017

    Australia's Interest Rate Remained on Hold

    Australia kept its interest rates steady on Tuesday, March 7, because the property prices of Sydney continued to increase its risk which exceeded a much lowered inflation rate. The Governor of Reserve Bank of Australia Philip Lowe concluded together with his board to remain the cash rate at 1.5 percent after a positive growth and optimistic performance in trading for the last three months of 2016.

    According to the poll led by Bloomberg, the decision were already projected by all 29 economists.

    Moreover, the housing demand in Sydney remained stable since buyers settled a property in the city which further ratcheted up debt records.

    The central bank decided to maintain its policy despite of an extremely high house prices which partially stirred by the increasing population size coupled with the absence of family dwellings constructions.

    Furthermore, the country’s economy rose by 1.1 percent in Q4 versus the past three months and the 2.4 percent gained from a year ago.

    AppleFX

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    Post  AppleFX on Tue Mar 07, 2017 5:36 am



    March 7, 2017

    European stocks pulled down by German data

    The European stocks dropped for three days in a row on Tuesday pulled by the decline in shares of Deutsche bank after asking for as much as $8.5 billion cash call. It’s shares declined close to 3 percent as a fresh low for the year.

    Worsen by low corporate earnings report and industrial demand in Germany feel by 7.4 percent, the highest fall over the past 8 years, amid the global financial crisis that caused the investors to lose confidence setting the market in a lacklustre environment.

    The U.S. futures began to fall slightly during the Wall Street ESc1 DJc1 as investors await for the possible next rate hike that is still uncertain but they are getting ready for it.

    AppleFX

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    Post  AppleFX on Wed Mar 08, 2017 2:21 am

    March 8, 2017
    Pharma Stocks Drop as Trump Posts Drug Prices Tweet
    Pharmaceutical stocks plummeted on Tuesday after Donald Trump plunged back into the drug pricing debacle after the US President tweeted a pledge to minimize the costs of medicinal products for US citizens. As stated in a tweet sent at 9:00 A.M., New York Time, Trump stated that his administration is currently working on a system which will enhance competition in the pharmaceutical industry. Analysts are saying that it is highly curious that Trump’s tweet comes immediately after the House healthcare reform bill, which is indicative of the administration’s efforts on drug and pharmaceutical pricing.

    AppleFX

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    Post  AppleFX on Wed Mar 08, 2017 4:19 am

    $1000 Draw

    ForexMart clients can now get a chance to win $1,000 by joining ForexMart’s Chance Bonus offer. Simply deposit at least $300 or more in your trading account and you will automatically become qualified for the raffle.

    Winners of the Chance Bonus offer will be chosen via random electronic draws. The $1000 is automatically credited every Monday to one of the eligible accounts which met the conditions of the raffle during the previous week. The Chance Bonus offer can also be mixed with other types of ForexMart bonuses. Clients can also opt to cancel their Chance Bonus eligibility by sending us a notification e-mail at support@forexmart.com.

    AppleFX

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    Post  AppleFX on Wed Mar 08, 2017 4:42 am


    March 8, 2017

    Canada’s Economy Lead Over other G7 Countries

    The Canadian economy is expected to gain 2.4% this year with equal expectations as of the United States and in the lead of other countries included in the Group of 7. The estimates were based from the Organisation for Economic Co-operation and Development

    (OECD) release.

    The international organization formerly mentioned about Canada’s possible economic improvement by 2.1 in 2017, which came in better and still appeared to be modest compared with the previous years of recoveries from economic decline.

    The Paris-based institution hike up its projections for the selected biggest economies in the world which further includes USA and China, however, its evaluation for the world economy kept steady at 3.3% versus 3% in 2016.

    Furthermore, the report mentioned that the US and Canada would likely outstrip other seven major economies which involve Germany as the next highest among the G7 with 1.8% growth in GDP.

    For 2018, it is expected that the U.S. economy will earn 2.8% and 2.2% growth for Canada. Moreover, the forecast for the global economic growth is said to be 3.6%.

    AppleFX

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    Post  AppleFX on Wed Mar 08, 2017 5:02 am


    March 8, 2017


    Dollar Trimmed Down after a Two-month High

    The surge of U.S. dollar decelerated minimally on Wednesday session after reaching a two-month high against a basket of currencies last week. Investors are cautiously waiting on the sidelines as the Friday’s U.S. jobs report is about to be released soon. Moreover, there is a higher chance for a rate hike as the greenback sets in a tight range.

    The appreciation of dollar seems like it achieved its limit with the rate hike in March in investors’ mind. Fed deliberating whether there will be a rate hike thrice for this year, this would prompt the central bank to provide hints as the workers’ salaries rise that could bring about inflation.

    AppleFX

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    Post  AppleFX on Wed Mar 08, 2017 5:09 am

    March 8, 2017

    Pharma Stocks Drop as Trump Posts Drug Prices Tweet

    Pharmaceutical stocks plummeted on Tuesday after Donald Trump plunged back into the drug pricing debacle after the US President tweeted a pledge to minimize the costs of medicinal products for US citizens. As stated in a tweet sent at 9:00 A.M., New York Time, Trump stated that his administration is currently working on a system which will enhance competition in the pharmaceutical industry. Analysts are saying that it is highly curious that Trump’s tweet comes immediately after the House healthcare reform bill, which is indicative of the administration’s efforts on drug and pharmaceutical pricing.

    AppleFX

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    Post  AppleFX on Fri Mar 10, 2017 4:39 am


    March 10, 2017

    Nigeria Launched Recovery Plan for Economic Growth

    The government of Nigeria has introduced its master plan to take off the recession with hopes of reaching 7.0% increase after three years, however, experts deemed that the target seems high to hit. The detailed outline of the plan was released on Monday including the possible programme of the oil giant in Western Africa to recover from the worst economic depression in 25 years.

    John Ashbourne, an economist at the consultancy Capital Economics, said that one of the main considerations written in the document is the African Development Bank and World Bank to lend some money to the country since these banks provide borrowing plans.

    The objective of the recovery plan is to diversify the economy by utilizing major industries inclusive of agriculture and energy as well as expanding production for oil up to 2.5 million barrels a day (BPD). As of this writing, the production arrives at 1.9 million bpd. The administration further initiated extensive projects for infrastructure aiming to improve transport system throughout the entire nation. Part of the goal is to improve the Gross Domestic Product with a 4.6% average until the year 2020 as the forecasted growth is at 7.0%.

    Moreover, the global prices for oil have seen declined following the cut in revenue due to the Nigerian economy dependence from crude products. The naira established a weaker position and triggered inflation to beef up by 20%.

    AppleFX

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    Post  AppleFX on Fri Mar 10, 2017 4:47 am


    March 10, 2017

    Next Visit of Vietnam’s PM to U.S. to Strengthen Ties

    Prime Minister Nguyen Xuan Phuc aims to maintain its trading ties with the United States under the new administration while Vietnam likes to maintain U.S. being their leading partner. The prime minister’s next visit would strengthen ties between the two countries with Vietnam being the top potential beneficiary of the Trans-Pacific Partnership free trade agreement, known that Trump is against the continuation of this trade deal.


    Their last official state meeting was in 2008 as he strengthened the security measure in problems regarding territorial claims with their neighboring country China. Their latest meetup was when both leaders attended the U.S.-ASEAN summit in February last year.

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