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    Economic and company news by ForexMart

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    AppleFX

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    Post  AppleFX on Thu Jun 01, 2017 2:06 am


    June 1, 2017

    Climate Agreement Cancellation Next on Trump’s to-do List

    US President Donald Trump is currently leaning towards the complete cancellation of the role of the US government in the 2015 Paris climate agreement, specifically the reduction of the country’s carbon emission, although Trump has yet to fully decide on the matter, the White House has stated last Wednesday. The paris climate change accord is composed of a total of 190 countries committed to counteracting the effects of climate change by cutting back their respective greenhouse gas emissions. The said accord aims to maintain the average global temperatures at under 3.6 degrees Fahrenheit or 2 degrees Celsius.

    AppleFX

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    Post  AppleFX on Thu Jun 01, 2017 2:15 am

    June 1, 2017
    India’s Economic Growth Lose Steam due to Notes Ban
    The economy of the seventh-largest country in the world experienced a steep decline in the first quarter of the year. Reflecting the November’s ban implemented by the country’s Prime Minister, Narendra Modi, triggered by the shortage of cash because this event brought a significant impact in the following months. The economy strengthened by 6.1 percent during the first three months of 2017 versus the same period in 2016. It further compared with the 7 percent increase gained amid last quarter, wherein the India’s leader announced his plan of radical demonetization.
    The issued data on Wednesday officially acknowledges the effect of stripping the nation’s currency towards the economic activity of India.
    As the financial year ended in March, the Indian economy acquired by 7.1 percent growth in contrast with the 8 percent gained in the same period and 7.5 percent in March 2015. The downturn highlights the ongoing dilemmas confronted by Modi, elected three years ago affirming for the revival of the country as well as generating more jobs for the young people
    The construction industry shrunk by 3.7 percent that pulled the economy to its lowest level. While real estate, financial and professional services expanded by 2.2 percent as shown in the report. The muted private sector activity though was driven by the sudden surge in government activities under defense, public administration, and others gaining 17 percent on year.

    AppleFX

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    Post  AppleFX on Thu Jun 01, 2017 4:16 am


    June 1, 2017

    Next Inflation is in Check According to Fed

    The U.S. economy grows at a steady but slow rate in the second quarter of the year based on the regional economic survey of the Federal Reserve. The sluggish pace also supports the inflation as described by some enterprises.

    Rates are about to be tightened as the economy progresses after a long hiatus of almost a decade holding rate close to zero following the financial crisis. Employment and wages also grew but at an average pace with the U.S. unemployment rate measured at 4.4 percent at a 10-year low. Although the labor market is see to tighten, there are signals implying the need for a rate hike.

    Commodity markets particularly lumber and steel are increasing its prices for some manufacturers and the construction sector while other divisions are easing their costs. The policymakers are anticipated to raise its rates in the next policy meeting this June.

    AppleFX

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    Post  AppleFX on Mon Jun 05, 2017 8:42 pm


    June 5, 2017

    Indian Economy Boost by 7.2 percent, World Bank Says

    Apparently, India was able to recover from the negative effects brought by the demonetization as the World Bank estimated a 7.2 percent strong growth for the Indian economy, compared with 6.8 percent gained in 2016.

    According to an official from the said international financial institution, they revised its projections regarding India’s improvement with 0.4 percentage points versus forecast made in January, however, the country still wear the crown as the fastest major economy to grow among other countries around the world. While the growth forecast for China remained steady at 6.5 percent for this year and 6.3 percent for the upcoming 2018 and 2019.

    Based from the most recent Global Economic Prospects of World Bank, projected growth for India is 7.5 percent by the year 2018 and 7.7 percent for the following year, 2019.

    In both years, the assessment was down to 0.3 percent and 0.1 percent points in comparison to predictions in the first month of the year.

    Given that increase towards the India’s economy in FY2017 is roughly lower than the previous predictions that reflect indicates a sustained resurgence in the private investment sector as foreseen back then.

    AppleFX

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    Post  AppleFX on Mon Jun 05, 2017 8:47 pm


    June 5, 2017

    South Korea Began Stimulus Fiscal package of $10 billion for Job Sector

    South Korea will release a stimulus package worth 11.2 trillion won equivalent to $10 billion U.S. dollars on Monday. This will support social welfare subsidy and part of methods for achieving the pledge of President Moon Jae-in to generate 810,000 jobs in the public sector. It is the first supplementary budget for work sector according to the country’s chief of budget Park Chun-sup.

    In particular, about 5.4 trillion won is allotted for social welfare jobs such as educators, firefighters, postal employees as stated by the finance ministry while 2.3 trillion won will fund financial aid for maternity leave and medical assistance for elderlies. Overall, It is anticipated to increase 71,000 jobs for the public sector and 15,000 jobs for the private sector.

    This strategy is anticipated to stimulate economic growth by 0.2 percent for the year and augment the 2017 outlook from 2.6 percent. It is also supposed to boost both income and consumption as disposable household income dropped by 1.1 percent in the fourth quarter while private consumption rose by 0.4 percent but is still lower than the overall economic growth.

    AppleFX

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    Post  AppleFX on Mon Jun 05, 2017 8:51 pm


    June 5, 2017

    US Jobless Rate Drops to 4.3% as Hiring Declines

    US unemployment rates fell to its lowest levels reached within a 16-year period last May/ Market investors took this as a sign that the ever slow-paced US economic expansion has already reached a whole new level that has made it exceptionally hard for business to score workers with suitable working experiences. The country’s jobless rate is currently at 4.3%, which is its lowest point reached since May 2001 and is just under the level it reached during the 2001-2007 economic expansion period. On the other hand, hiring rates have posted a significant decline at a seasonally-adjusted jobs record of 138,000 from last month, which makes up about two-thirds of the recorded growth rate for the entirety of 2016.

    AppleFX

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    Post  AppleFX on Tue Jun 06, 2017 7:44 pm


    June 6, 2017

    Service Sector of United States Slowdown in May

    Services sector activity of the United States softened last month due to downswing in factory orders, however, increase in jobs has reached its 2-year high further reflected a protracted improvement in the labor market amid downturn in jobs growth in May.

    Moderation in the tertiary sector of industry coupled with further data released on yesterday showed manufactured orders fell in April. The initial slump occurred in five months as the output of laborers remained steady in Q1 which implies a tighter range for a rapid economic expansion.

    The non-manufacturing business activity index dropped six-tenths percentage point which accounts to 56.9 reading. A reading on top of 50 would mean a two-third increase in the U.S. economic activity.

    According to reports, new orders of services industry loss 5.5 percentage points in April. The costs of products and services under non-manufacturing industries descended on the back of its growth for the past 13 consecutive months. Nevertheless, the gauge of service sector employment boost by 6.4 percent near its highest level recorded in July 2015, showing stability for the labor market as the nonfarm payrolls gained 138,000 previously and 174,00 in April.

    The value for price paid dive could probably lure the attention of some officials of the Fed Reserve on the meeting dated June 13-14 to discuss the monetary policy.

    The central bank of the United States is predicted to increase its benchmark by 25 basis point during the session.

    AppleFX

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    Post  AppleFX on Tue Jun 06, 2017 7:53 pm


    June 6, 2017

    Slow Growth of Scottish Economy, EY reports

    Based on the forecast of the EY Scottish item club that the GDP growth will be weak falling below expectation with 0.9% growth this year where a half of it is expected for the Britain and will predominantly hit the retail sector. It is anticipated to fall by 0.1% this year and will decrease in a bigger number by 0.5% and 0.3% in 2018 and 2019 respectively.


    Consumers will be greatly pressured from this which will increase by 1% in 2017 and below 1% in the succeeding years until 2020 while the employment is assumed to drop by fall this year.


    On the other hand, the manufacturing sector will rise following the overall economy for the first time since 4 years ago, because of higher demand and depreciation of sterling which will boost exports.


    Overall, the Scottish economy is foreseen to have a sluggish growth than the Britain by 0.7% in 2018 before gaining its momentum again to reach 1.4% growth within this decade.

    AppleFX

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    Post  AppleFX on Tue Jun 06, 2017 7:55 pm

    June 6, 2017

    World Bank Predicts Seven-Year High for 2018 Global Economic Growth

    In a statement made last Sunday, the World Bank predicted that a possible correction in trade growth stemming from post-crisis lows might be able to help strengthen the international economy and enable a seven-year high for next year’s economic growth status. However, the bank also stressed that there are certain threats to the emerging markets niche, including a fast-expanding wealth economy, which could derail the predicted growth rate for the economy. The financial institution said that international economic growth could possibly reach 2.9% in 2018 as compared to this year’s mere 2.7%. Price stability in commodity prices has helped emerging markets out of its two-year slump, while several countries around the world are finally showing signs of improvement following a large-scale financial crisis.

    AppleFX

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    Post  AppleFX on Thu Jun 08, 2017 3:34 am


    June 8, 2017

    ‘Hard’ Brexit Weigh Against UK Economic Performance

    The British economy is projected to slow down this 2017 and the following year as it was inundated by diverging issues caused by Brexit negotiations.

    The Organisation for Economic Cooperation and Development (OECD), said that risks and expected results of the referendum would likely hurt private consumption.

    According to forecasts, UK economic growth is 1.6 percent for this year while predicted to gain one percent in 2018 with a steady outlook versus estimated figures in March.

    Moreover, OECD presented their prediction for other economies in 2018 showing positive growth and set out a constant projection for the United Kingdom.

    The organization assumes for a hard Brexit thinking that Britain is going to trade against a much restrictive term under the World Trade Organisation upon leaving the European Union in 2019, in case that it fails to obtain an all-inclusive free trade agreement.

    The most recent OECD’s world economic outlook indicates slower growth which could drive jobless rate higher than five percent. Nonetheless, the intergovernmental entity told that "swift progress in negotiations and an outcome that retains strong trade linkages with the European Union would lead to better outcomes than projected".

    AppleFX

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    Post  AppleFX on Thu Jun 08, 2017 4:31 am


    June 8, 2017

    Surge in Chinese Trades Amid Weakened Economic Growth

    Reports indicating China is gaining momentum in the economy as both exports and imports rallied in May, denoting an improvement in the economy. Exports climbed to $191billion gained 8.7 pc while imports rose to $150.2 billion gained 14.8 pc. It exceeded the expectation of 7.2 pc and 8.3 pc for exports and imports respectively. On the other hand, the trade surplus grew $2 billion to $40.8 billion in April.

    However, concern arises that it would be difficult for Beijing to sustain the current pace. Future trade data could hamper growth aiming to curb the large debt of the country. A sluggish credit growth amid weak economic activity in the succeeding quarters will affect progress, warned by an economist. Other data also reflects weakened growth with the ongoing weaker demand and surplus in industrial capacity because of debt-driven infrastructure.

    Concerns about increasing debt levels prompted Moody’s agency to cut its Chian credit rating for the first time in almost 30 years. In 2016, its economy growth was at its weakest rate and it is anticipated that growth will further weaken this year.

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    Post  AppleFX on Fri Jun 09, 2017 4:23 am


    June 9, 2017

    ECB not yet to Withdraw Stimulus Program

    The European Central Bank decided to loosen its monetary policy on Thursday but indicated that it further needs some support from the central bank amid increasing growth.

    Mario Draghi, ECB president, is very cautious in his announcement regarding the withdrawal stimulus.

    During the meeting held on Thursday which is accompanied by 25 members of the council, the bank kept its interest rates and bond-purchase stimulus program steady.

    The governing council settled small adjustments towards the 19 emerging countries that utilizes the European currency by stating that interest rates could probably move lower. While Draghi issued another significant change as he described that risk to growth is currently “broadly balanced”, the tweak was announced during the April wherein risk are said to "tilted to the downside."

    Carsten Brzeski, analyst at ING-DiBa, allegorize the bank’s statement to a baby’s first step intended to taper the stimulus effort. The financial institution preserved its bond-buying program at 60 billion euros ($67 billion) each month which will last this year or longer.

    Moreover, ECB officials were in a stew for the market’s response to the untimely notice that the stimulus will end as the rates will climb higher, undermining the effects.

    AppleFX

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    Post  AppleFX on Fri Jun 09, 2017 4:43 am


    June 9, 2017

    Limited Drop of Sterling in the Global Market

    On Friday, the British pound slumped following vague results without a particular party that dominated that election. Hence, investors are trying to weigh on risks including both event in the United States and Europe. As a result, the cable dropped by 2 percent amid the political problem that could hamper the Brexit talks and causing more uncertainty which will begin in more than a week.



    Yields on 10-year gilt dropped by 3 basis points to 1.00 percent while the the FTSE futures recovered as it gained 0.2 percent bringing hopes up to economic progress. The e-mini futures for the S&P 500 has a lesser impact as it increase by 0.1 percent.



    The single currency slid overnight following the announcement of ECB forecast to ease inflation but did not talked to tune down the massive bond-buying campaign pushing bond yields to multi-month lows. It’s effect in the global investment market can not be defined as it represents just 2.5 percent of world GDP.

    AppleFX

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    Post  AppleFX on Fri Jun 09, 2017 4:52 am


    June 9, 2017

    Limited Drop of Sterling in the Global Market

    On Friday, the British pound slumped following vague results without a particular party that dominated that election. Hence, investors are trying to weigh on risks including both event in the United States and Europe. As a result, the cable dropped by 2 percent amid the political problem that could hamper the Brexit talks and causing more uncertainty which will begin in more than a week.



    Yields on 10-year gilt dropped by 3 basis points to 1.00 percent while the the FTSE futures recovered as it gained 0.2 percent bringing hopes up to economic progress. The e-mini futures for the S&P 500 has a lesser impact as it increase by 0.1 percent.



    The single currency slid overnight following the announcement of ECB forecast to ease inflation but did not talked to tune down the massive bond-buying campaign pushing bond yields to multi-month lows. It’s effect in the global investment market can not be defined as it represents just 2.5 percent of world GDP.

    AppleFX

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    Post  AppleFX on Tue Jun 13, 2017 4:56 am


    June 13, 2017

    Italy and Qatar to Continue Economic Ties

    Countries, Italy and Qatar decided to maintain their deal regarding close integration on economy and finances. Even the decision of some Arab Countries along with Saudi Arabia and the United Arab Emirates is to break diplomatic, travel and trade agreement with Qatar.

    The consensus was succeeded by a meeting between Italian Economy Minister Pier Carlo Padoan and Qatari Finance Minister Ali Sherif Al-Emadi held in Rome on Monday.

    The two countries said in a joint statement that they discussed the ties in a very friendly atmosphere in accordance with its outstanding relationships on economics and politics

    The visit of Al-Emadi in Italy is part of the leader’s European tours, hence he will also go to Berlin, London, Paris, and Washington.

    The sovereign states of Arab which include Saudi and UAE ended its agreement with Qatar in the past week, they believe that Doha supports the finances of Iran together with other Islamist groups, but Doha refuted this accusation. While al-Elmadia stated earlier on Monday that his country is able to protect its economy against these charges.

    In an interview with CNBC, he further mentioned that those countries that inflicted such sanction have the tendency to lose money due to the damage it wrought in the business sector of the region.

    "A lot of people think we're the only ones to lose in this ... If we're going to lose a dollar, they will lose a dollar also," the leader added.

    AppleFX

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    Post  AppleFX on Tue Jun 13, 2017 5:08 am


    June 13, 2017

    Finland’s Export Data Shows Signs of Recovery

    The Bank of Finland forecast data shows the growth of Finland’s economy as exports recuperated gains although it still needed reform to enhance development and stronger public finances. This growth is marked as a big progress following a decade state in hiatus state due to various economic and business problems. The GDP progress is anticipated to improve by 2.1 percent in 2017 which is higher than the former forecast of 1.6 percent in March. In the previous year, the GDP grew by 1.4 percent.


    Amid the steady growth of exports, the economic growth still depends on the private consumption and investment and will further progress when the employment condition gets better to support an increase in purchasing power. Hence, the center-right government has lessened expenditures and eased labor laws yet the central bank sees the need other strategies to boost the current and future growth.

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    Post  AppleFX on Wed Jun 14, 2017 11:13 pm


    June 14, 2017

    Germany’s Economic Confidence Declined Unexpectedly

    Financiers from Germany shows confidence towards the recovery of the Euro region, however, the UK economy is not lucky enough to gain a stronger stance. Since the economic condition of the Great Britain fell off this year, along with its prospects, based on the data from the ZEW think tank, as the European economic research institute conducted a poll for almost 200 investors.

    The margin came higher for the UK compared with other economies mentioned in the survey, because German capitalists are disappointed with the latest economic status. It appeared that more than 63 percent of the respondents predicted that the situation will get even worse during the second half of 2017 which is the highest ratio versus other nations involved in the poll.

    According to headline ZEQ indicator, the projections for the German economy had declined comparatively reaching 18.6. While the presumptions for the euro zone was raise to 37.7 versus other confidence indices like PMI and Ifo. The reading of the ZEW headline was keep restrained below the average level which started in 1991.

    AppleFX

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    Post  AppleFX on Wed Jun 14, 2017 11:15 pm


    June 14, 2017

    Credit Losses Bound to Get Higher in the Industry

    Credit card losses will most likely increase in volume in the United States and all over the industry especially to JPMorgan Chase & Co. as mentioned by Gordon Smith, the head of the bank’s consumer businesses during the conference held on Tuesday.

    U.S. banks are being objective in their policy decision on whether to tighten credit policies and it is not far that most lenders within the financial sector are inclined to impose a stricter credit card lending standards instead of attenuating it.

    JPMorgan earnings are seen to have increased in sales volume but declining credit trend that is still similar to other lending institutions. It is forecasted as shown in the Fitch ratings report that this will persist in the next few quarters because of the rising trend in loan growth pushed by lower credit rates. However, Smith said that there is no need to get distressed over this matter as this is already expected after some time of low loss rates in the past and is now approaching the end of the cycle.

    AppleFX

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    Post  AppleFX on Wed Jun 14, 2017 11:23 pm


    June 14, 2017

    May Appoints Political Opponent as Junior Minister

    UK Prime Minister Theresa May has recently appointed a leading anti-EU Tory campaigner as a junior Brexit minister following unrest within the PM’s team of officials assigned to work on the Brexit negotiations a mere week before the actual start of the said negotiations. The newly-appointed official was identified as Steve Baker, who used to be UK’s chairman of Conservatives. Baker has also led a group of Tory lawmakers which aims to hold the UK government against a complete separation from the European Union.

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    Post  AppleFX on Thu Jun 15, 2017 4:31 am


    June 15, 2017

    Job Creation in Australia Reached 42,000, Unemployment Rate Slowdown by 5.5% in May

    Australia created additional jobs with a total of 42,000 which exceeded the expectations of 10,000 as indicated in the roughly calculated poll led by Reuters, disclosed by the Australian Bureau of Statistics on Thursday. However, the number of unemployed for this month accounts to 5.5 percent which came in lesser than predicted 5.7 percent.

    The Aussie dollar further gained strength after releasing the current employment data of the Australian economy at exactly 9:30 HK/SIN while the exchange rate against its American counterpart is greater by 0.5 percent.

    The employment figures appeared to be volatile but the rate in the past few months showed some development within the labor sector, said by Steven Milch, the chief economist of Suncorp. Mr. Milch also mentioned that the number remained stable for the third consecutive month and much stronger than their anticipated figures.

    In case that the trend will continue, it will also increase the wages which could reinforce the reflection of the RBA towards the economy as a “half empty glass”. This shows that the Reserve Bank of Australia is not probable to revise its policy anytime.

    The central bank announced that earlier this June the labour market indicators will remain mixed, keeping its benchmark cash rate on hold at a record low of 1.5 percent. The financial institution also noted that the slackening of real income will curtail the growth in household spending.

    AppleFX

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    Post  AppleFX on Thu Jun 15, 2017 4:32 am



    June 15, 2017

    NZ Below Expectation Economic Growth

    The New Zealand economy climbed by 0.5 percent in the first quarter of the year but still lower than market expectations as the construction sector weakened. The forecast figure of the central bank is 0.9 percent while the analysts predicted it to attain 0.7 percent, which obviously fell short from both predictions.


    Despite positive growth for the milk production and a moderate growth of GDP, these were out shadowed by weak data from the construction sector and the mixed results from the service sector. The construction data declined by 2.1 percent for Q1 that negated the 4.3 percent augmentation in agriculture particularly the milk production.


    An economic analyst described this phenomenon to be transient and the economy will advance at estimated of 3.0 to 3.5 percent this year. Also, other sectors are performing well but there is no need for the Reserve Bank of New Zealand (RBNZ) to adjust its cash rate from a record low of 1.75 percent.

    AppleFX

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    Post  AppleFX on Thu Jun 15, 2017 4:37 am


    June 15, 2017

    Fed Implements Rate Hike, Maintains Outlook for Next Hike

    The US Federal Reserve has pushed through with its planned interest rate hike for this month while outlining its plans to continue with stricter monetary policies in spite of the country’s weak inflation rates. FOMC officials approved the central bank’s third rate hike within a six-month period and hinted at possibly another rate hike just before the end of 2017. Fed Chair Janet Yellen stated in a press conference following the announcement that the bank’s plans of unwinding its policies might be implemented sooner than later, especially if the country’s economic status meets the expectations of the Fed. Moreover, the central bank is also looking into a three-quarter point rate increase for 2018 just like its previous projection last March.

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    Post  AppleFX on Mon Jun 19, 2017 3:08 am

    June 19, 2017
    Aussie Economy can Grow Further, says Philip Lowe
    RBA Governor Philip Lowe thinks that the Australian economy will still be able to grow further if the country’s officials will be able to overcome several political hurdles, although he also warned that disappointing wage gains data will most likely to continue plaguing developed countries. Lowe also stated that the central bank believes that the country’s economic growth will continue advancing during the next two years due to an overall surge in the status of the international economy. The political environment within Australia has become more and more polarized over the years, as parties attempted to gain an unfair electoral advantage from losing reform proposals. This has prevented the Australian economy to properly implement any kind of economic reform since 2000’s goods and services tax.

    AppleFX

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    Post  AppleFX on Tue Jun 20, 2017 8:48 pm


    June 20, 2017

    Positive Economic Feelings of Americans, No Help For Trump, CNBC says

    The American economy remains optimistic as shown in the All-America Economic Survey by CNBC, along with some leading components reaching its highest level, however, this optimism does not help the president.

    The poll shows that 800 U.S. citizens or 30 percent of the populace believe that the economy is in upbeat as of this moment until the future. It's the highest percentage recorded in the past two successive quarters amid survey's 10-year history.

    There are 54 percent who think that house price will surge in 2018 and 44 percent who deems that their earnings will further rose for the following year. The stocks as well demonstrated a positive stance as there were 44 percent assumed that this period is a time for good investment

    However, the positive tone of Trump’s economy does not contribute much help towards the approval rating of the state’s leader which showed a 37 percent decline based on the recent survey versus 39 percent result in April. President D. Trump’s approval on the economy is down to 41 percent and 44 percent in April. Moreover, negative factors may arise driven by various groups particularly laborers such as blue collar, independents, and retirees.

    As the public has split belief, the poll found that quarter of the United States economy is becoming better due to policies adopted by the president. On one side, there are 22 percent who said that his plans worsen the country.

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    Post  AppleFX on Tue Jun 20, 2017 8:51 pm


    June 20, 2017

    Positive Data Buoys Up Japanese Factory Sector's Confidence

    Japanese manufacturers confidence rating rallied this month reaching the record level high in April and it is anticipated to further increase in succeeding months indicating according to the poll of Reuters. This is an indicator of economic recovery.



    The mood of service industry also surged to a two-year high implication of improving confidence even though it is contradicting to the survey of Reuters Tankan which described credence to be declining in the next three months.



    Most indicators and business activity indicated positive data on exports and factory production but the wage growth and household expenditure have slow growth amid tightening job market.



    This prompted the central bank to keep its monetary policy unchanged on Friday while the private consumption increased for the first time within six months as the economy gains momentum particularly exports.

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