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Andrea ForexMart

Company News by ForexMart

123 posts in this topic
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GBP Hits Highest Level in Two Months as Market Hopes UK Government Loses Brexit Case

 

The sterling pound hit a two-month high after the UK Supreme Court recently concluded its second day of arguments with regards to discussing the right to commence the Brexit referendum, or the UK’s imminent separation from the EU. The GBP recorded its sixth day of increase against the USD, its second consecutive monthly gain since November. The UK government has already lost a Supreme Court case, which was about whether the Parliament should be first given the right to do a vote before the actual implementation of Theresa May’s Brexit strategies.

 

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RBA Interest Rate Decision Remained at 1.5%

 

The central bank of Australia or also known as RBA has announced their final decision during the board meeting held every month. The Reserve Bank of Australia made a resolution to keep their rates unchanged with a record low reaching 1.50 percent.

 

According to a site whose purpose is to compare mortgage rates, finder.com.au have made a survey among 75 experts in the industry and most them expected that rates will still be consistent. Furthermore, they support the RBA’s decision as there is no reason to demand the bank to employ such changes. Many professionals from the industry anticipate that the next move of the Australian financial system will be on the upcoming February 2017.

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The current Money Fall contest has already started on December 19, 2016 and will end on December 23, 2016.

You can register for the next competition which will take place from December 26, 2016 to December 30, 2016 (Terminal time). .

Note:

Registration for the next competition finishes 1 hour before the contest starts.

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Italian Government Solicits €20bn to Support Their Struggling Banks

The Italian government waiting for parliamentary approval to borrow as much as 20 billion Euro equivalent to 17 billion pound to backed up weak banking sector especially Monte dei Paschi. This puts pressure to the newly elected Italian Prime Minister Paolo Gentiloni afraid to suffer losses regards to bailout rules of European Union.

He indicated that this serves as a preventive measure to protect savings. Also, Pier Carlo Padoan the Italian economy minister said that this would be used to induce liquidity in the banking industry to support troubled banks. They are looking for ways to pay losses incurred by retail investors.

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New Section "Economical News"

 

Dear traders!

 

We have added a new section "Economic news" on our site. Every day we will publish the main news in the field of economics and finance. In this news section you will always find interesting, actual and relevant information about important economic indicators, current exchange rates and much  more. You can also learn the latest important events affecting the world and Russian economy.

 

Keep the track of the world events and stay tuned with ForexMart!

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Las Palmas VIP Ticket Raffle 2016/17

 

ForexMart clients can now have a unique opportunity to get VIP tickets and watch games in Las Palmas  for free!

 

ForexMart is pleased to announce that we will be giving away free VIP ticket passes to watch Union Deportiva Las Palmas play against the best European football teams to all of our active clients.

 

This raffle is open to all active ForexMart traders, and each client will immediately get ONE (1) entry to the ticket raffle. Winners of this particular raffle will be able to get a confirmation via their emails.

 

For more details with regards to this raffle giveaway, kindly visit ForexMart’s official raffle page.

 

If you do not have a trading account with us yet and want to join ForexMart’s VIP ticket raffle, you can sign up <here> now and have your account validated instantly! Sign up and get a chance to join and win awesome prizes from ForexMart!

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China’s Economy Remains Stable Until 2017

 

The Bureau of Statistics released the GDP of China showing 6.7% growth during the previous three quarters of 2016. The world’s second-largest economy established a stable growth which is a sign for the possible completion of the country’s target for the year.

 

The issued data further presented an economic stability under the industrial sector, consumption and investing sector from October to November. While the service industry rose because of an upbeat in agriculture. Chinese officials from the National Development and Reform Commission (NDRC) are confident that the positive trends will continue until 2017.

 

Stephen Roach, an economist told the China Daily that the attainment of the government’s target GDP growth will account for 1.2 percentage points.

 

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Vietnam Fast Economic Growth Gained More Than 6% in GDP

 

Vietnam’s economy rose by 6.21% this year being the fastest country to grow in the manufacturing sector. Its trade exports remain strong as it grew by 8.6% for this year despite sluggish global that is affecting other countries such as Singapore and China.  

 

The Gross Domestic Product climbed 6.68% in the fourth quarter last year while an improvement of 6.56% was seen since September as stated by the General Statistics Office of Hanoi. The forecasted economic growth of the country by the Asian Development Bank is 63 percent for 2017 giving a positive outlook in the next several years and standout from the rest of Asian countries.

 

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US Stocks Trade Near Record High as Oil Prices Surge, Bonds Drop

 

US stocks traded within its record highs in the midst of low market liquidity after oil prices clocked in its longest gain streak within a four-month period. Meanwhile, US treasuries dropped following a weakening in the demand in a two-year notes auction. The rise in oil prices for the seventh straight day is a response to anticipation from majority of market players that the recent production cuts from both non-OPEC and OPEC member nations will be vital in the reduction of a supply surplus.

 

 

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The current Money Fall contest has already started on January 2, 2017 and will end on January 6, 2017.

 

You can register for the next competition which will take place from January 9, 2017 to January 13, 2017

 

Note:

Registration for the next competition finishes 1 hour before the contest starts.

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Countermeasures of China to Curb Yuan in 2017

 

Yuan rallied this year especially the offshore trading and China is creating its contingency plan to curb the capital outflows for 2017. The offshore yuan climbed 0.9 percent to 6.8958 against U.S. dollar which is the highest increment since January 2016.

 

This plan was thought to counter recovering U.S. dollar while country’s capital outflow increases. Moreover, the ongoing threat from changes in U.S. policies regarding exports under Trump’s presidency. China might also sell U.S. Treasuries this year if necessary to secure the currency. This is predicted to expand the supply for foreign exchange within the onshore market and in return would support yuan in the short term.

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Inflation Rate in the Eurozone Rack Up

 

The inflation rate in the European region had increased, reaching its highest pace after three years. The surge is driven by the price hike for alcohol and tobacco, energy and food.

 

Based on the report from the Eurostat, the inflation percentage for December gained 1.1% which is notably higher from November’s result of 0.6%.

 

The highest rate occurred last 2013 in the month of September by which the result is also 1.1%. The final outcome is higher-than-expected which made the ECB’s target less than 2%.

The energy prices surge by 2.5% yearly, while the value of food and intoxicants grew by 1.2% year over year. Moreover, the energy costs rose due to OPEC’s resolution to decrease the production output.

 

The sharp jump lessened the fears of Europe regarding the possible deflation  which could weakened the eurozone’s economic growth. Meanwhile, other core prices compelled by world markets had a limited rise from 0.8% to 0.9% only, this little progress would mean that the December’s inflation is “short-lived” according to analysts.

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The current Money Fall contest has already started on January 9, 2017 and will end on January 13, 2017.

 

You can register for the next competition which will take place from January 16, 2017 to January 20, 2017

 

Note:

Registration for the next competition finishes 1 hour before the contest starts.

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World Economy Could Receive Boost from Tax Cuts, Says World Bank

 

The World Bank has stated that Trump’s proposed tax cuts and other spending policies could possibly help in boosting the global economy in spite of the concerns surrounding his proposed trading policies. The international development lender further added that the incoming administration could possibly endanger the recent gains caused by various economic stimuli once it implements the setting up of certain trading boundaries which could trigger counter-policies from neighboring countries such as Canada and the UK.

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China Exports Dropped in December

 

According to the official data released on Friday, the exports of world’s second biggest economy worsen trader’s expectation in December since the global trade kept its weak stance unchanged, while the imports growth were reduced.

 

Moreover, the exports for the month declined by 6.1 percent on-year in terms of dollar-denominated circumstances. Compared with the previous month of 0.1 percent hike as per report from Reuters on Friday cited in the official stats as well.

 

Last year, imports rose by 3.1 percent versus 6.7 percent increase in November. Whereas, the trade balance on December reached $40.82 billion against $44.61 billion for the past month.

However, economist polled by Reuters assessed the exports will lose 3.5 percent, imports will rise 2.4 percent and the monthly trade balance will arrive at  $46.50 billion.

 

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Oil Records Highest 6-Week Gains as KSA Cuts Back on Oil Production

 

Oil prices increased in value and has recorded its largest two-day gains within the six-week  mark as Saudi Arabia prepares to cutback on its oil production way more than what was initially required as stated in the OPEC meeting a few weeks ago. Saudi’s Energy Minister has already stated that the country has already minimized its oil output to only less than 10 million barrels per day which is more than what was previously agreed on between OPEC and non-OPEC oil producers as part of efforts to curb down oil production across the globe.

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The current Money Fall contest has already started on January 16, 2017 and will end on January 20, 2017.

 

You can register for the next competition which will take place from January 23, 2017 to January 27, 2017

 

Note:

Registration for the next competition finishes 1 hour before the contest starts.

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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.

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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.

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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.

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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.

 

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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.

 

poundsurges.PNG

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The current Money Fall contest has already started on January 23, 2017 and will end on January 27, 2017.

You can register for the next competition which will take place from January 30, 2017 to February 3, 2017

 

Note:

Registration for the next competition finishes 1 hour before the contest starts.

 

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