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Economic News

Postby Andrea ForexMart » Thu Jul 20, 2017 3:44 am

ECB Expected to Hold Interest Rates on Thursday

The head of European Central Bank (ECB), Mario Draghi is possible to make a soft step since the ECB give way for stopping the monetary stimulus efforts on Thursday.

Experts assumed it will almost certainly happen that the bank will begin to trim down its €60 billion (US$69 billion) worth of monthly bond purchases, following the initial termination schedule in December. However, they are not expectant that Draghi will provide the blueprint for the exit during the news conference on Thursday.

The central bank is predicted to maintain its interest benchmark at zero and further clarification on the timeline for stimulus withdrawal is anticipated at the meeting on September 7.

Moreover, the markets had an intense reaction, sending support for the single European currency to move higher and reached US$1.15 initially since May last year while the bond prices decline. This quick decision reflects that there are still some market players that remains not yet ready for the stimulus to end. For this played a major role in buoying the economy of the eurozone through controlling the interest rates.

The market reaction triggered the “taper tantrum” which is accompanied by a speech from Ben Bernanke, head of US Federal Reserve, in May 2013.


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Economic News

Postby Andrea ForexMart » Fri Jul 21, 2017 5:23 am

Major Central Banks Policies Turn Hawkish Forecast

There is a big expectation for major central banks not to implement easing of monetary policy despite of small hints in the momentum of inflation as shown in the poll from Reuters. At the same time, it implies that there is a momentum on analysts particularly to Europe, India, and China that represents about 40 percent of the total population worldwide. They predicted that the global economy will get improve rather than “worse” next year.

Although, there is still economic risks amid a decade of monetary stimulus has passed and
aggregated asset purchases for a total of $15 trillion. Growth forecast has improved to 3.6 percent in 2018 from the current 3.5 percent for 2017. Yet, inflation prediction is declined than last year were greater than half of the central banks polled are foreseen to cut rates or tighten it.

In September, the Fed is presumed to curtail its $4 trillion worth of portfolio bonds and rate hike for the third time by the last quarter of the year while the European Central Bank plans to tighten its monetary policy after an “ultra-easy” policy actions rooted on the progress of the economic growth.


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Re: Company News by ForexMart

Postby Andrea ForexMart » Mon Jul 24, 2017 1:39 am

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Registration for the next competition finishes 1 hour before the contest starts.
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Re: Company News by ForexMart

Postby Andrea ForexMart » Tue Jul 25, 2017 2:56 am

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Economic News

Postby Andrea ForexMart » Wed Jul 26, 2017 1:19 am

IMF Cut Growth Forecast for US Economy

The International Monetary Fund downgraded its growth outlook for the United States due to concerns regarding Trump’s capacity to carry out his promises to the economy to stir the American economy.

Although the Washington-based organization provided a positive forecast in April, they had trim it down to 2.1 percent for this year and based on earlier projections for 2018, the US economy will gain 2.3 and 2.5 percent growth.

While the global growth was held at 3.5 percent in 2017 and 3.6 percent for the next year according to the prediction of IMF managing director Christine Lagarde and described it as "quite well anchored".

However, based on the World Economic Update, the IMF mentioned about the uncertainty towards the policies of President Donald Trump since it is a major factor in the leery growth projections for the US.

Pres. Donald Trump got the presidential position six months ago, citing his plans about tax reductions, looser regulation and major infrastructure spending which triggered a rally on Wall Street. But the policies were stalled in the US Congress as the government continues to battle over other issues, like health care reform.


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Re: Company News by ForexMart

Postby Andrea ForexMart » Thu Jul 27, 2017 4:48 am

Growth in UK Film Industry Lift Economy in Q2

The British economy was able to accelerate slightly during the second quarter after a lackluster growth at the beginning of 2017. The little speed of Britain is driven by the services sector and the breakthrough in the film industry, as indicated in the official data showed on Wednesday.

This quarter gained 0.3 percent growth compared with the 0.2 percent recorded in the Q1, the results could possibly trigger expectations that the Bank of England will maintain the interest rates steady next week with a record low level.

In 2016, the economy of Britain increased by 1.8 percent which is the fastest, compared with other seven largest major advanced economies in the world, regardless of the rampant projections about recession after the Brexit vote. However, the referendum caused an extensive decline towards the value of the pound and moved the inflation up, gnawed at the disposable income of consumer this year.

The services sector alone is the economic growth driver for the Q2 and supported the retailers, motion picture activities and hotels and restaurants.

According to the Office for National Statistics (ONS), the fast-growing film industry of UK rose by 72 percent on 2014, which likely raise tax credits proposed by the former finance minister George Osborne. Moreover, the movies released from April to June also helped.

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On Monday, the International Monetary Fund cut its 2017 economic forecast for the United Kingdom, showing predictions of 1.7 percent expansion versus with the 2.0 percent earlier estimate. But foresees a decline to 1.5 percent next year.
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Economic News

Postby Andrea ForexMart » Fri Jul 28, 2017 2:55 am

Japan Household Spending Grew 2.3% in June

Japan’s household expenditure in the previous month accelerated most in 2015 since the available jobs heightened to its fresh 43-year highs. This shows that as the labour market tightens, it helps push wages and consumer spending up in a gradual pace.

Last week, the BOJ retained its monetary policy, however, pushed back again to reach its price goal, underlining the gap between the weak inflation and steady growth. And further emphasized that it may take some time to scale down its massive stimulus.

The Japanese economy grew at an annualized 1.0 percent earlier this year, indicating a consecutive growth for the fifth time on strong exports and expansion in personal consumption.
According to analysts, the domestic demand is the main driver for a sustained growth in net exports but would probably reduce growth in GDP for the second quarter.

The positive signs for household consumption consist of 60 percent of the economy and gained 2.3 percent in the year until June, that jumped for the first time after 16 months and acquired the largest annual gain in August 2015. While the median estimate of the economists is 0.6 percent which is further based on the polled data of Reuters by the Ministry of Internal Affairs and Communications issued on Friday.

Moreover, the retail sales gained 2.1 percent in the year to June as shown in another set of data.

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Re: Company News by ForexMart

Postby Andrea ForexMart » Mon Jul 31, 2017 4:35 am

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Re: Company News by ForexMart

Postby Andrea ForexMart » Thu Aug 03, 2017 1:57 am

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Economic News

Postby Andrea ForexMart » Thu Aug 03, 2017 6:35 am

GST Weighed on the Economy of India

The status of businesses in India has suffered the worst scenario during the 2008 financial crisis, considering the rise in sales tax extensively that rattled the supply and distribution chains after months of implementing the cash ban on roiled markets by Prime Minister Narendra Modi.

Based on the report issued on Thursday, the Nikkei India Composite PMI Output Index shrink from 52.7 in June to 46 in July while the sharpest fall was March 2009. Activities in the services industry also decline to 45.9 from 53.1, which is the lowest since September 2013, after the data revealed the manufacturing had extremely dropped since 2009. A reading that is less than 50 reflects contraction.

According to a report, the principal economist at IHS Markit, Pollyanna De Lima said, "Private sector activity dipped for the first time since the demonetization shock" and "most of the contraction was attributed to the implementation of the goods and services tax and the confusion it caused"

The mentioned data served as an indication of the underlying weakness in the country. On Wednesday, the Indian central bank decreased its interest rates to the lowest since 2010 and appeal to the government to boost projects due to "an urgent need" to improve private investment.

Most likely, companies are convinced that the outlook will become positive as the ruling of GST (Good and Services Tax) are being clarified, De Lima said.

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