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Economic News

Postby Andrea ForexMart » Thu Nov 17, 2016 1:20 am

The Highest-Ranking Russian Official Accused for Receiving $2M Bribe


The Economy Minister of Russia, Ulyukayev were accused for accepting payments after he approved the takeover of 50% stake of Bashneft to a giant oil company, Rosneft. According to the investigators, the Russian minister collected $2m (£1.6m) worth of bribe, however, Ulyukayev pleaded not guilty on the allegation.


Alexei Ulyukayev is considered to be the highest-ranking Russian official to be dismissed and arrested since the failed coup in 1991.


The minister was arrested Tuesday morning and expected to face eight to 15 years of imprisonment but he continued to denied the blame and described it as “an act of provocation against a state official”. Moreover, the court allowed him to take a house arrest until January 15.
President Vladimir Putin take an immediate action and impeached Mr. Ulyukayev since the 60-year-old minister broke the trust of Putin. The acting economy minister recently appointed was Yevgeny Yelin.

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Postby Andrea ForexMart » Thu Nov 17, 2016 6:59 am

US Dollar Drops, Asian Stocks Bounce Back as Trump Victory Shock Fades


For the first time in nearly four days, Asian stocks increased in value while the USD dropped from its five-month high against the Japanese yen due to investors questioning the possible overreaction of the financial market to Donald Trump’s recent win during the US elections. The MSCI Asia Pacific Index increased due to energy shares after crude oil prices rose to its highest levels in seven months after the OPEC finally agreed on proposed output cutbacks. For the major currencies, the KRW had the most gains after rebounding from its near-record lows since June 2016. The Japanese 10-year bond yields were also able to maintain its zero value after staying within negative territory for a total of eight weeks.
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Economic News

Postby Andrea ForexMart » Fri Nov 18, 2016 6:14 am

Dollar Falls, Bonds Increase, Asian Stocks Fluctuate Prior to Yellen Statement


The USD lost a significant amount of its value as compared to other major currency pairs while Treasury yields surged and Asian stocks experienced fluctuations prior to the release of the US inflation data, as well as a testimonial from Fed Chairwoman Janet Yellen which is expected to determine market expectations on the US interest rate. Meanwhile, the EUR edged higher after a nine-day slump as the dollar index reverted back from its highest level reached in nine months. New Zealand and Australian stocks extended its gains, while benchmark Treasuries also inched higher. Crude oil prices fell as American stockpiles incurred more gains in the market.

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Economic News

Postby Andrea ForexMart » Fri Nov 18, 2016 7:04 am

The Number of Jobless Claimants in UK Grew by 9.8K


The office for National Statistics of UK presented mixed data of unemployment rate which fall to 4.8% from the previous 4.9%, it is considered the lowest since the third quarter of 2005.. The Claimant Count Change presented a negative outlook as the number climb up to 9.8k in the month of October, the result is greater than the expected which is 2K only.


Moreover, the data released last September got affected and modified as it rise to 5.6k with only 0.7K on the previous result. This occurrence showed some signals about the worsening conditions in the labor ministry. This complication further stirred the GBP/USD as it insignificantly slid downside.

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Economic News

Postby Andrea ForexMart » Tue Nov 22, 2016 5:09 am

Asian Stock Market Traded Mixed Due to Dollar Easing


The Asian market were trading mixed yesterday morning as the U.S Dollar strengthen along with the bond yields that increased as well, consequent to the victory of Donald Trump that further stimulated fund flows from various developing markets.


Despite of the softening of the yen, the Japan's Nikkei 225 rose up to 0.51% on the back of the broad based strengthening of the greenbacks after the election. While the benchmark Kospi Index of South Korea were able to bounce back and gain 0.05% following the prosecutor’s affirmation that President Park Geun-hye is associated in the political scandal.


On the other hand, the Chinese shares is in an upbeat as its global benchmark, Shanghai composite expand to 0.65%. The Hang Seng Index of Hong Kong moved higher up to 0.46%.
While Major economic news were released on Monday morning as the trade data of Japan for the month of October had dipped, the exports declined and the imports dropped 16.5%. The South Korea’s exports for the first 20 days of November had decreased with 0.25, imports plunged to 3.1%


While the petroleum products and other commodities made an upward momentum, the crude add up 0.83% and the Brent grew by 0.9%.

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Economic News

Postby Andrea ForexMart » Tue Nov 22, 2016 5:59 am

U.S. Treasury Yields Soar with Strong Dollar


The U.S. Dollar reached a six-month record high on Monday's Asian trading session because of Trump's planned fiscal policies and goals to drive growth. The uncertainty brought by the so called “Trumponomics” has made the financial market to buy dollars and sell U.S.


Treasuries which is expected to persist for some time. Although there might be correction near Thanksgiving.


For five years, the U.S. Treasury yields have reached a highest two-week gains. This includes all types of maturities which is an after-effect of U.S. Presidential election. People waiting what will happen next after Trump's victory has further boosted the greenback to thirteen and half year highs compare to basket of currencies.

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Economic News

Postby Andrea ForexMart » Tue Nov 22, 2016 7:26 am

Thai Economy Slows Down as International Risks Increase, Investments Weaken


The economic growth of Thailand slowed down during the previous quarter due to a relative weakness in the performance of private investments which is now compelling the Thai government to increase spending in order to shield the economy from an increase in international risks as well as burgeoning political uncertainties in the region following the death of King Bhumibol. Thailand is now expected to deal with added volatility in the financial market due to the unexpected results of the US elections as well as the death of the Thai king. On the other hand, the military junta has already guaranteed assistance with regards to infrastructure as well as financial support for farmers.

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Economic News

Postby Andrea ForexMart » Thu Nov 24, 2016 5:56 am

Australia’s Mining Investments Fosters growth to Economy


Mining improves the economy of Australia with recovery of investments and increase in commodity prices. Furthermore, the high demand for Aussie boosts the economy specifically in Queensland and Western Australia since the inflation rates are going back to normal levels.


The unemployment rate has decreased since the peak in 2015 which also slowed down the population growth where the past reports saying it has improved were overstated . Nevertheless, this slow growth is not as bad as it shown a less than expected results.


On the bright side, it is the progress of trades mainly the pricing between imports and exports that gives a promising outlook for the mining investment and the increasing demand for money gives buoyancy in the economy.

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Economic News

Postby Andrea ForexMart » Thu Nov 24, 2016 6:58 am

CBI’s Latest Industrial Trends Survey Showed an Increase on Manufacturing Orders But Remained to be Weak.


The manufacturing order books heightened although the export orders and economic growth eased within this month as indicated in the order results of the Industrial Trends Survey.
The survey includes 430 manufacturers and assessed that the total order books restored its previous level which prevails during the whole period of summer and seen on top of the long-term average. Moreover, the orders for exports dropped down slightly but managed to sustain an above average result.


The volume for output made a slow growth which is about three months later. There is hope that the production for the upcoming quarter appeared to be in good shape yet its highest level was recorded last February 2015. In light of the steep decline of the sterling pound, manufacturers await for the possible extension of the average selling prices for the succeeding months.

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Economic News

Postby Andrea ForexMart » Thu Nov 24, 2016 10:54 pm

Canadian Stocks Reaches Highest Levels in 17 Months Due to Massive Retail Sales Profits

Canadian stocks continued its increasing trend for a total of four days and has already reached its highest levels in 17 months as a result of massive retail sales gains, with retail sales clocking in its biggest profits incurred since April 2016. Canada’s retail sales data showed gains worth 0.6% in September 2016, its biggest gains posted since April and an indicator of the spending of the Canadian government’s recently-minted child benefits. Meanwhile, the Canadian equity benchmarks scored more gains as the DJIA reached up to 19,000, while the MSCI index for both developing and developed markets increased by up to 3.6% for 2016 and could possibly hit its record highest yearly increase since 2013.

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