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Economic News

Postby Andrea ForexMart » Tue Nov 28, 2017 1:10 am

Post-Brexit Economy Plan of UK to be Launch

The plan of the government in expanding the British industry prior the EU exit is scheduled to be launched later. According to official forecasts, the purpose of the industrial strategy is to revised growth which has the tendency to slow down because of UK’s low economic performance. As mentioned by Greg Clark, Secretary of State for Business, Energy and Industrial Strategy, Brexit indicates that the strategy could be considered as "even more important".

Moreover, an agreement with the MSD (Merck Sharp & Dohme) to start a UK research centre is included in the strategy. The investment cost more than £1bn with an expectation to generate 950 jobs. Based on the government’s announcement, there was a significant vote of confidence within the strategy in boosting the UK economic performance after the EU exit.

The launch of the strategy followed some days after the Office for Budget Responsibility (OBR) reported about the productivity outlook and the aggressive reduction of growth in Britain. While political allies and corporate groups believe that the solution is to acquire improved productivity and higher compensation is regarded as greater investments.


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Economic News

Postby Andrea ForexMart » Thu Nov 30, 2017 11:48 pm

Good US Economy to be Passed to Powell

Jerome Powell is officially getting closer to becoming the next Fed Reserve Chairman. The Fed Governor said that he is not worried about another financial crisis in the banking system. Powell was asked during the Senate hearing on Tuesday if banks remain too big to fail, and he answered “No”. He noted that regulators were able to conduct positive negotiations and there could be nobody to have an idea about the previous situation in case that a run on occurred on one of these giant financial institutions.

The incoming Fed head described that regulators were left with “no practical choice” and decided to let these huge banks to fail since the entire financial system resulted in a breakdown. In 2008, the Fed together with Treasury Department organized programs that could bring liquidity to American banks during the crunch which includes Bank of America (BAC), Citigroup and JPMorgan (JPM). Moreover, some were unable to survive like Lehman Brothers while Bear Stearns was bought by JPM at an extremely discounted price.

At the same time, the US economy is seated in a better position compared during the Great Recession. The next Fed chair stated that the country may expand nearly at 2.5% in 2018 as reported this year. The 2 percent growth is regarded below the average level according to the majority of forecasters. Goldman Sachs also has the same prediction of 2.5% growth in the economic growth of the United States, and for the world economic outlook is expected at 4% increase.

When talking about the US labor market, J.Powell expressed that the decline in the labor force participation rate among prime-age men indicates a dull employment despite the 4.1% jobless rate, as the reduced wage growth shows slack labor market. Just like Yellen, Powell stated his fears regarding low inflation rates, stressing the importance of reaching the 2% annual target.


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Re: Company News by ForexMart

Postby Andrea ForexMart » Fri Dec 01, 2017 1:48 am

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Economic News

Postby Andrea ForexMart » Mon Dec 04, 2017 4:22 am

U.K. Economy Forecasted to have a Moderate growth, CBI says

The tepid growth of the U.K. economy will remain for some time. This could weaken in the next years to come, as stated by the Confederation of British Industry.

The CCI current forecast says the development by 1.5 percent next year and 1.3 percent in 2019. This would be the worst annual operation since 2009 when the economy declined.

Yet, there is a drawback which will probably occur when the projections are high since they anticipate Brexit to proceed without a problem. The U.K. will most likely get to an agreement with the European Union regarding their transition deal early next year. This would take place when the Brexit leaves in March 2019.

The CBI also mentioned that the domestic demand will maintain its dovish stance in a definite time while there is economy support from net trade. This was based on the poll on Friday indicating that the U.K. manufacturing growth is strongest over four years time.


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Re: Company News by ForexMart

Postby Andrea ForexMart » Tue Dec 05, 2017 12:26 am

The current Money Fall contest has already started on December 4, 2017 and will end on December 8, 2017.

You can register for the next competition which will take place from December 11, 2017 to December 15, 2017.

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

Congratulations to all the winners!



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Economic News

Postby Andrea ForexMart » Thu Dec 07, 2017 2:15 am

Germany’s Optimistic Outlook due to Higher Industrial Orders

The industrial orders in Germany surged surprisingly in October because of domestic and foreign demand from non-euro zone according to the reports on Wednesday. This implies that the country will have a good momentum in the next few months.

Orders of products that are locally made increased for three consecutive months and supported by the data up by 0.5 percent in October compared last month, according to the Economy Ministry. Despite the fact that bulk orders are lower than average for the month of November.

It is anticipated for the data to decline by 0.3 percent following an upward revision of 1.2 percent in bookings for the month of September based on the survey from Reuters.

An economist described the situation to be in a good condition, given that the economy has been robust the past few months while there is a “moderate growth” in October as a good result. Although, he said that growth would not move higher amid higher books of orders and more capacity to utilize.

The German economy has gained momentum by the third quarter and has been expanding since 2010 but there are still concerns since Germany doesn’t have a new government over two months following a national election.

Conservatives representative, Chancellor Angela Merkel, lost against the far-right in the September poll. It is presumed that Social Democrats (SPD) will hopefully approve to run again the current ‘grand coalition’ after a failed attempt of alliance with the environmentalist Greens and pro-business Free Democrats.

Nevertheless, the Economy Ministry said that there is high demand for it along with record-high business confidence and positive growth in the manufacturing sector.

The orders data increased by 0.5 percent while there is 1.6 surge in contracts beyond the eurozone as it counterbalances the 1.2 drop in the bloc. Domestic contracts rallied by 0.4 percent.

Interest for both capital and consumer goods surged in October despite the demand for intermediate goods declined a bit. Comparably, there is less volatility in the past two months where it declined by 3.4 percent which is much higher than the level two months ago.


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Economic News

Postby Andrea ForexMart » Wed Dec 13, 2017 3:02 am

U.S. Treasury Needs to Adjust their Cash Management

The U.S. Treasury Secretary Steven Mnuchin publicized that there will be cash management measures to prevent a U.S. bad debt on Monday.

A letter to House of Representatives Speaker Paul Ryan says that two retirement funds would not be funded by the Treasury anymore. This includes the Civil Service Retirement and Disability Fund and the Postal Service Retiree Health Benefits Fund as mentioned in the letter. Mnuchin said that all funds would fully be compensated when the debt ceiling has been adjusted.

The U.S. Treasury is trying to assess the limit of money that it can borrow to manage the budget loss which leads to the higher spending of Taxes more than the collection from Washington and Congress has the only power to increase the limit.

There was a short-term solution of suspending the debt limit until December 8. Nevertheless, the Treasury has the capacity of paying the bills up to January as a precautionary measure according to the department.

Selected countries require the legislature to consent the periodic increases in the legal limit on the maximum amount of money that allows the federal government to borrow.


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Economic News

Postby Andrea ForexMart » Tue Dec 19, 2017 5:58 am

NZ Business Confidence Stayed near 8-year lows

The business sentiment in New Zealand remained near the eight-year depression in December, which caused uncertainty towards policy direction led by the new labour government based on the survey presented by the ANZ Bank.

The headline measure of the survey indicates a net 37.8 percent of respondents who expect the economy will weaken in the upcoming year. This is compared with previous poll’s pessimism level of 39.3 percent, which is the lowest recorded since the global economic crisis.

The latest ANZ business survey is the second poll that included companies reactions towards the new Labour-led administration, which take control towards the end of October and almost completed a decade ruling of center-right National Party.

On the positive note, the companies projection for their respective business is an increase for 2018 with net 15.6 percent of respondents higher versus 6.5 percent last month.


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Re: Company News by ForexMart

Postby Andrea ForexMart » Wed Dec 20, 2017 5:34 am

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Stay tuned and watch the news. ForexMart always tries to make your trade even easier and more profitable!


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Economic News

Postby Andrea ForexMart » Thu Dec 21, 2017 12:03 am

BoE will Keep the Normal Rates After Brexit

The Bank of England allows the financial institutions in the country to proceed with their selling transactions in the United Kingdom without the need for expensive subsidiaries after Brexit, despite the divorce deal between London and Brussels becomes unsuccessful as reported by the BBC.

The decision of the central bank will be publicized at 1300 GMT on Wednesday. These would ease problems to be faced by the European banks as they offer wholesale services in London that follows New York as the world’s financial capital.

Concerns regarding their requests for business hours, the BoE haven’t responded out of it. There are unidentified reports saying that the government and sound sources that the decision is supported.

The proposal of BoE would affirm for goodwill from Britain in Brexit talks that seek to maintain London as the financial center and manage more banks.

There are more than 100 branches of lenders that operate in London which is headquartered in London. In the present, banks in Britain functions under EU “passporting” rules, which will end in March 2019 when Britain leaves the bloc.

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