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Daily Economic and company news by ForexMart

Discussion in 'Forex Brokers' started by Apple ForexMart, Oct 5, 2016.

  1. Apple ForexMart

    Apple ForexMart Well-Known Member Trader

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    January 12, 2017

    Aggressive Rate Cut of Brazil Giving Positive Outlook to the Economy

    The Central Bank of Brazil reduced its Selic rate benchmark abruptly in their attempt to boost the weak economy of the country as a result of the unanimous vote on Wednesday. It lowered by three quarters of a point to thirteen percent instead of the forecasted four points. This has been the lowest rate cut since October last year.
    According to the central bank, the inflation aligns with the target although the economic growth is still poor. Even though inflation has slower pace of growth for more than two years, there are still pile of debts and wavering confidence from businesses and consumers as consumer prices increase more that hamper progress in the economy.
     
  2. Apple ForexMart

    Apple ForexMart Well-Known Member Trader

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    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.
     
  3. Apple ForexMart

    Apple ForexMart Well-Known Member Trader

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    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.
     
  4. Apple ForexMart

    Apple ForexMart Well-Known Member Trader

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    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.
     
  5. Apple ForexMart

    Apple ForexMart Well-Known Member Trader

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    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.
     
  6. Apple ForexMart

    Apple ForexMart Well-Known Member Trader

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    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.
     
  7. Apple ForexMart

    Apple ForexMart Well-Known Member Trader

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    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
     
  8. Apple ForexMart

    Apple ForexMart Well-Known Member Trader

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    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.
     
  9. Apple ForexMart

    Apple ForexMart Well-Known Member Trader

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    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.
     
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    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.
     
  11. Apple ForexMart

    Apple ForexMart Well-Known Member Trader

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    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.
     

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