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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 Thu Jan 12, 2017 5:36 am

    January 12, 2017

    BOE’s Carney Reversed Warnings on Brexit Danger to UK

    Brexit poses no risk at all towards the UK economy, BOE’s Governor Mark Carney told the Members of Parliament. The governor confirmed the perils about the Bank’s decision to leave the European Union were already reduced. However, the likelihood of risk is considered to be “elevated” since the danger weigh more within the continent of Europe than the UK.
    Carney also mentioned there is a need to undertake the transition period and further marked it as "highly advisable". Failure to carry out the stage for transition will bear consequences by which this major changes will be the support in alleviating the possible fallout.
    The Canadian economist said the country should focus on stabilizing the access in financial services industry as Brexit took place eventually. The financial market is subjected to endure extreme consequences in case it lose some of its elements.

    AppleFX

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    Post  AppleFX on Mon Jan 16, 2017 5:16 am

    January 16, 2017

    Oil prices Amp Up as the Dollar Weakens

    Oil prices edged higher as the dollar weaken and the expectations about Organization of the Petroleum Exporting Countries (OPEC) en masse with other producers will reduce its output since it's part of the deal in curbing the worldwide overproduction.


    According to traders the prices appears to be buoyant due to the sluggish stance of greens which made fuel cost cheaper for countries that utilize foreign currencies
    The oil further accumulated support from the issued reduction for crude production which includes major producers in Russia.

    OPEC also mentioned that they would cut down the quantity they produced with 1.2 million barrels each day to 32.5 million bpd starting 1st of January. However, there are assumptions that the Austria-based company will not totally execute the declared cutback whereas the agreement of 50 to 80 percent are adequate to support petroleum purchase.


    AppleFX

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    Post  AppleFX on Mon Jan 16, 2017 5:18 am


    January 16, 2017

    Economic Assessment Shows a Moderate Growth of Japan’s Economy

    The Bank of Japan economic assessment shows a positive outlook in its quarterly report on Monday. Three out of nine regions saying giving a moderate economic recovery while other regions stay the same because of higher private consumption and increase in demand from Emerging Asian countries. On the other hand, retails sales increased in November with the tightening of the labor market as wages rises as well.

    This the first time after seven quarters passed with BOJ raising its assessment for different regions implying that the country is in its way to recovery at a moderate pace. It is anticipated by the analysts that the central bank will delay its planned stimulus in the next months as the economy moves having an optimistic future for the country.

    AppleFX

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    Post  AppleFX on Mon Jan 16, 2017 5:32 am

    January 16, 2017
    GBP Drops by 1.6% as Theresa May Preps for Hard Brexit
    The sterling pound dropped by as much as 1.6% and has settled below $1.20 for the first time since October’s infamous flash crash following reports from the market that UK PM Theresa May will soon be outlining her plans of removing UK from the EU single market as part of her attempt to take back control of UK borders, as well as laws. The GBP dropped significantly in comparison to other major currencies after general market concerns that Theresa May will be opting for a hard Brexit and is planning to pull out UK from tariff-free trading in order to put a stop to immigration while promoting trading with other countries.

    AppleFX

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    Post  AppleFX on Tue Jan 17, 2017 3:31 am

    January 17, 2017
    Theresa May Set to Announce UK’s Move to Exit EU Single Market
    UK Prime Minister Theresa May is scheduled to address the UK government today, wherein she is expected to outline her plans for the hard Brexit process. In particular, May will be announcing that the UK will soon be removing itself from the European Union’s single market and establish a brand new trade relationship with EU once it formally leaves the bloc. The Prime Minister’s office has also highlighted May’s stance that the PM is set on removing UK from the eurozone completely and will not be settling for even a partial membership with the EU.

    AppleFX

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    Post  AppleFX on Tue Jan 17, 2017 3:50 am


    January 17, 2017
    Sterling Hit Its Lows Against a basket of currencies since May’s Brexit Speech
    The British pound slumped to a three-month low on Tuesday influenced by the speech of Prime Minister Theresa May that would change the European Union single market and limit its access to the single market. The pound reached the lowest 1.1983 against the U.S. dollars while it hit a ten-week low of 88.53 against Euro both on Monday. Same with yen when it reached an eight-week low at 136.81 on Monday.
    The Japanese yen is benefitting from this situation while the concerns on U.S. President elect Donald Trump that attenuates the associated risk sentiment. The market is still uncertain with Trump’s economic policies making them cautious on their move whether to take short or long before his inauguration at the

    AppleFX

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    Post  AppleFX on Tue Jan 17, 2017 4:00 am

    January 17, 2017
    New Zealand Business Confidence Remains Solid
    For the months of October to December 2016, the state of the New Zealand economy kept an optimistic stance as the region’s construction projects thrive continuously coupled with the increase in the price of dairy products which made the rural region's confidence bounced back due to this recovery.
    Based on the poll conducted by the New Zealand Institute of Economic Research, the seasonally adjusted net of firms is 26 percent.
    Stronger trading for the last three months of 2016 showed 21% net and 25% expansion is expected for the next quarter.
    Christina Leung, the principal economist from NZIER, said the business confidence index (BCI) is strong due to high demand in construction. While the net of South Island companies is 32% and for the lower North Island firms hit 30% versus 25 and 19 percent results in September.

    AppleFX

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    Post  AppleFX on Wed Jan 18, 2017 3:46 am


    January 18, 2017

    Chinese Government’s Countermeasure for Decline in Home Prices

    Residential property in Guangzhou climbed by 0.7 percent in December according to the report from Bureau of Statistics’ data. It is the only city who opposed the deflation program of residential properties in China.

    Twenty local and provincial officials have seeked out counter measures to control loans and restrict second-home buyers to lessen the risk of elevated prices that may lead into dire repercussions. When this countermeasure has been implemented home prices from first and second tier cities steadied implying a positive change for the economy. As for the city of Beijing, he pledged that the prices of new homes will be kept unchanged for this year.

    AppleFX

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    Post  AppleFX on Wed Jan 18, 2017 3:51 am


    January 18, 2017


    India’s Demonetization Impacts the Economy


    India presented consecutive growth for less than 7 percent in the past three-quarters during December 2012 and June 2013 based on the statement from an India economist at Soc Generale, Kunal Kumar Kundu.

    SocGen also mentioned the fiscal growth rate of the country for 2017 is 6.6 percent versus the previous result of 7.3 percent. The bank further expects for a 7.2 percent, lesser than the earlier prediction of 7.7 percent, for the fiscal year 2018 which will end on March 2019.

    India laid out its demonetization program since November with more than 50 days from now, causing an 86% impact on the currency circulation within the country.

    The 500 ($7.35) and 1,000 ($14.70) rupees were replaced with 500 and 2,000 rupee notes.

    The Jakarta-based investment firm reviewed the research from All India Manufacturers' Organization (AIMO), which showed that there are 35% job losses within the small scale and micro industries and suffered 50% decline in the revenue, 34 days after the demonetization program is set forth. However, in March 2017, the figures will likely drop into 60% in employment while 55% reduction in revenue as stated by AIMO, it’s because these sectors are highly dependent on cash transactions.

    AppleFX

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    Post  AppleFX on Wed Jan 18, 2017 3:53 am


    January 18, 2017

    Pound Surges, USD Plummets after Trump, May Comments

    The sterling pound finally increased in value after a long slump after UK PM Theresa May outlined her plans for the hard Brexit process, therefore clearing up some of the Brexit-related confusions and placating investors. Meanwhile, US president-elect Donald Trump has recently commented on the strength of the dollar, saying that the USD’s current value might be “too strong” for the US economy to handle. This has then prompted USD investors to vacate the dollar and move to riskier assets such as stock markets and has caused the dollar to drop in value.

    AppleFX

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    Post  AppleFX on Thu Jan 19, 2017 4:36 am

    January 19, 2017

    Australia’s Increase in Employment

    The Australian Bureau of Statistics released an official data on Thursday showing an upsurge in employment. The number of people employed increased by 13, 500 which is higher than the expected figures of 10, 000. The number of people who work full time expand by 9, 300 and the participation rate reached 64.7% in December while 64.6% for November.


    Annette Beacher, Chief Macro Strategist of Asia-Pacific Research at TD Securities, mentioned that there were about 92,000 additional jobs created last year. However, these jobs are only part-time because full-time occupation declined in 2016.


    Moreover, the stability of the labor market will be based on the actions of the Reserve Bank of Australia for 2017, according to an economist at Morgan Stanley, Daniel Blake.On one side, there are few analyst who believes on the positive impact of the employment statistics.

    AppleFX

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    Post  AppleFX on Thu Jan 19, 2017 4:56 am

    ForexMart Won as «Best Forex Newcomer 2016»


    ForexMart was recognized as the best young company of 2016 year in the field of financial markets activity according to the business publication Global Business Outlook, having won a new award in the nomination "Best Forex Newcomer 2016".

    Global Business Outlook Awards – the annual international award which recognizes and rewards businesses, both private and public, showing impressive innovations and progressive strategies in business activity at various economic industries. The new award, received by ForexMart, proves the high professionalism level of its specialists and quality of the offered services. And surely it reflects the highest degree of customer confidence. The award «Best Forex Newcomer 2016» from the authoritative British edition is a great distinction in a highly competitive market.

    ForexMart President Ildar Sharipov is thankful for the award commenting:
    «We are proud of getting this important and significant award and very thankful to our clients for their firm trust. This new award is a symbol of ForexMart’s excellent service that brings clients the complacency and security they need in the volatile forex exchange market. We always aim to provide our clients with the most advanced technologies for successful trade, without forgetting about safety and comfort of our interaction. We are planning to develop our services further, helping traders and partners to remain at the top of financial success».

    ForexMart continues to make progress, creating and improving optimum, convenient and safe conditions for trade. Receiving of this award – is a significant achievement, indicating that ForexMart and its clients are on the right path - the path to success!

    AppleFX

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    Post  AppleFX on Thu Jan 19, 2017 4:59 am

    January 19, 2017
    Proposed U.S. Tax Cut Favors Canadian Economy
    The Bank of Canada’s Overnight rate target uphold the 0.50 percent as the economic outlook remains the same. It is forecasted that the economy will recuperate to its maximum potential in the middle of 2018 driven by the infrastructure program of Federal government which could affect the economy.

    The proposed tax cuts may be favorable for Canadian exports and business confidence but this may have an opposite effect for other states in America. Hence, this tax cut may not affect the economy of Canada. Even though the Canadian economy recovered solidly in the third quarter of 2016, it is forecasted since October to rise up to 2.1 percent until next year

    AppleFX

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    Post  AppleFX on Mon Jan 23, 2017 4:31 am

    January 20, 2017
    Positive Year for NZ’s Manufacturing Sector
    The assessment for the Business PMI of New Zealand remained unchanged in January which is 54.5. An index of more than 50 would denote a business expansion while a figure below 50 indicates a contracting economy. The PMI provided an advanced outlook pertaining to the economic activities of NZ manufacturing sector.
    The positive PMI of the country is caused by the increase in construction, specifically in Auckland which is the region’s major financial centre. The architectural volume is predicted to surge in the near-term since the increase in population coupled with high demand continuously support the sector’s actions. The total production cost of NZ’s gross domestic product (GDP) is close to 12%. This industry positively contributed to the economic growth of Q3 including business services, construction, household consumption and transport. The economy beef up by 1.1% from the month of July until September, based on the report of Wellington’s statistics bureau the previous month.

    AppleFX

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    Post  AppleFX on Tue Jan 24, 2017 5:28 am


    January 24, 2017

    USD Drops as Trump Begins Pulling Out US from Trade Agreements

    The US dollar continued its losing streak after President Trump signed an Executive Order which will pull out US from the Trans-Pacific Partnership. Next in line could possibly be NAFTA, which Trump stated is now undergoing renegotiations in addition to implementing a high-rate border tax in spite of losses incurred after a Fed official stated his preference for high-frequency rate hikes in order to prevent the Fed from lagging behind in terms of economic movement.

    AppleFX

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    Post  AppleFX on Tue Jan 24, 2017 5:30 am

    January 24, 2017

    Bundesbank posts two percent Inflation rate for Germany

    Based on the report of Deutsche Bundesbank, inflation is predicted to surge for this month. Earlier in December, the consumer price index rose together with the high energy cost which began 5 years ago. The German inflation marks two percent according to the report of Bundesbank published on Monday. The recent steep increase in the average prices of the oil products caused for the inflation to escalate to two percent for January.

    However, the European Central Bank targets with an inflation rate below 2% because it is the most suitable percentage in order for the euro economy to further develop.

    On the previous month, the price level of consumer expenditure grew by 1.7% after three and a half years which resulted for high-priced petroleum products. This also made oil companies including the OPEC to imply for production cuts in order to improve the price of the basic material for oil.

    On the other hand, analysts predicted for 1.8% inflation in 2021. The German economy continued to improved according to Bundesbank as the country’s industry remained “favorable”. The 2016 GDP expanded to 1.9% after five years and for this year, the bank expects for the same result.

    AppleFX

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    Post  AppleFX on Tue Jan 24, 2017 5:38 am


    January 24, 2017

    Mexico Faces New Probable Risks From New U.S. Policy

    Mexico cautions that changes in policies under the new U.S. administration increases risks obstructing production chains between the two countries. This could lead to a drop in exports and direct foreign investments according to the Mexican Central Bank Governor Agustin Carsten.


    Although it is not expected to have higher risks for an inflation due to racked up demand curbing the convergence of the headline inflation rate with the Central bank’s target in 2018. At the same time, the easing in fuel prices could have a transient effect to the economy but it could be worse and drastic impact on inflation.

    AppleFX

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    Post  AppleFX on Wed Jan 25, 2017 5:33 am

    January 25, 2017
    Slow Economic Growth for South Korea in Fourth Quarter
    The Bank of Korea confirmed on Wednesday the economic growth of the sovereign state fell back during the fourth quarter of the previous year. Further sharp decline took place in the construction spending and personal consumption expenditure as the political upheaval intensifies.
    The period got affected by the illegal involvement of President Park Geun-hye regarding the corruption scandal. Park got impeached by parliament of South Korea, pronouncing their judgment in a court proceeding. This political instability triggered fears for the probable “policy paralysis” and caused for the Consumer Confidence Index to slump for the third time up to this month.
    The growth is approximately 0.4 percent based on Seasonally Adjusted Annual Rate (SAAR), quite from the 0.6 percent result in September and 0.8 percent surge for the month of June.
    While the construction investment grew less with a seasonally adjusted 1.7 percent from October to December. On the other hand, the private consumption gained 0.2 percent only and remained lesser by 0.5 percent during the September quarter. Moreover, the annual GDP rate increased by 2.3 percent in the last quarter but comparatively lower from 2.6 percent hike in third quarter.

    AppleFX

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    Post  AppleFX on Wed Jan 25, 2017 5:46 am

    January 25, 2017
    Bank of Japan Done Adding Stimuli under Kuroda—Economists
    Economists are stating that Bank of Japan is already done with adding economic stimulus to the Japanese economy under the term of BoJ Governor Haruhiko Kuroda. In addition, economists are also stating that there is a small chance of any adjustments made during the central bank’s policy meeting which is set to end this coming January 31. This is partly due to economic situations overseas becoming more complicated by the minute, especially with the newly-minted Trump administration as well as the hard Brexit process from the UK. The stirring of economic issues abroad has prompted the Bank of Japan to maintain its current policies and wait for these to unravel before finally making a move.

    AppleFX

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    Post  AppleFX on Thu Jan 26, 2017 5:15 am

    January 26, 2017

    Singapore Manufacturing Data Rallied on Strong Exports Demand

    The industrial production of Singapore rose at th quickest rate over five years in December driven by strong demand for electronics export reported by the Electronic Development Board. The Manufacturing data rose 21.3 percent in December 2016 while the output climbed to 6.4%. Even though the country encountered an increase in jobless rate reaching a six-year high in the past quarter, the results exceeded the forecast for two consecutive months from November.
    Growth in the export-reliant city-state is starting to gain momentum when the country tried to prevent the recession last year since the economy recovered after the decline in the third quarter. The preliminary data of the Gross Domestic Product also rose at the fastest rate over three years in the fourth quarter.

    AppleFX

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    Post  AppleFX on Thu Jan 26, 2017 5:18 am

    January 26, 2017

    Trump signed Exec Order for Controversial Pipelines

    Environmentalists have predicted about the much-protected issue but only few of them presumed it would instantly take place. As US President Donald Trump signed an executive order giving a go-ahead signal for the completion of the controversial Keystone XL and Dakota Access pipeline. Based on reports, these infrastructure programs allow an easier shipping of fossil fuels towards North America.

    This re-authorization order is included in the promise of Trump during his campaign which is about the lessening of internal procedures in blocking the pipelines.Moreover, the 70-year old politician was lambasted by climate activists together with Native Americans after he approved the memorandum for the pipeline projects.

    The pipeline revival is the initial opposing move of current American leader against ex-President Obama’s environmental policies. As Obama’s presidency did not pursue this plan due to some environmental-related concerns.

    AppleFX

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    Post  AppleFX on Thu Jan 26, 2017 5:48 am

    January 26, 2017

    Shinzo Abe Open to Possible US Bilateral Trade Deal after Trump Withdraws from TPP Agreement


    Japanese Prime Minister Shinzo Abe has stated that he is currently open to a possible bilateral trade deal with US after President Trump formally exited from the Trans-Pacific Partnership Agreement. Abe stated on Thursday that the PM is completely open to one-on-one talks with US for a possible trade deal, and also added that the Prime Minister is currently in the process of finalizing the details of his summit with Trump. Trump and Abe will be having a conversation via phone before finally seeing each other in Washington this coming February 10. Shinzo Abe is a known proponent of the TPP and is constantly looking for ways to boost Japan’s relationship with US.

    AppleFX

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    Post  AppleFX on Fri Jan 27, 2017 2:41 am



    EUR/USD Fundamental Analysis: January 27, 2017

    The EUR/USD pair finally experienced some substantial correction after the USD was able to regain its strength during the previous session. The EUR/USD pair dropped by over 120 pips from its previous level of 1.0770 points and is currently trading at 1.0680 points. This move in the currency pair was mostly caused by heightened risk in the stance of the euro after a number of world leaders voiced out their concerns regarding the EUR’s strength, while other world leaders stated their confidence in the current situation of the euro currency. However, speeches like these from government leaders would usually cause general unrest in the market especially since these kinds of speeches are usually uncalled for.

    The dollar also received support from the fact that the Trump administration seems to be working on most of its campaign platforms and are actually following realistic targets instead of going haywire, and since this is generally good news for the market, this has created an upward support for the US dollar. The dollar seems to have finally broken its wild careening movement and is expected to steadily increase in value over the next coming sessions.

    US will be releasing its advanced GDP data as well as its Durable Goods data during today’s session, and these sets of data will be closely monitored by the market since these will either make or break the US economy’s current show of strength. If these data comes out as positive, then this could possibly lead to the USD increasing further in value up until the weekend, and the EUR/USD could correct up to its range lows of 1.0400 points.

    AppleFX

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    Post  AppleFX on Mon Jan 30, 2017 3:27 am


    January 30, 2017

    BB to keep rates on hold, Kabir Said

    The central bank of Bangladesh maintained its key policy rates on January 29, Sunday according to Governor Fazle Kabir, noting the comprehensive Macro stability coupled with a stable inflation forecast. As mentioned by the bank’s governor, the predicted average inflation was estimated from 5.3 to 5.6 percent in June which is lower than the 5.8 percent goal for the fiscal year of 2016-17.

    Kabir also added that the increasing value of the global commodities for this year would probably weigh an upward pressure on the domestic prices, he said in a press conference, marking the quantitative measure of the monetary policy from the month of January to June. Moreover, the Bangladesh Bank (BB) have trimmed its interest rates with a half percentage point in January 2016.

    The average rate of inflation reached 5.92 percent during the fiscal year 2015-2016 which is the lowest recorded in 12 years. It is because of the steep decline in the commodity prices and the output in agriculture from South Asian countries, approximately 160 million individual.

    AppleFX

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    Post  AppleFX on Mon Jan 30, 2017 3:36 am

    January 30, 2017

    USD Drops, Asia Stocks Slump after Trump’s Immigration Ban Causes Unrest


    The US dollar inched lower and asian stocks declined after the market suffered repercussions brought about by President Trump’s various implementing policies, including an immigration which has sparked outrage from a number of the world’s most influential leaders as well as some tech giants. Meanwhile, bonds rose in value along with gold prices. The US dollar traded within its lowest levels in over two months and has weakened significantly against all other major currencies. Oil prices also decreased in value for the second consecutive day this week.

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