Company News by ForexMart

[Andrea_ForexMart]

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

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

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

 

[Andrea_ForexMart]

Economic News

Miscalculation of ONS Affected BoE’s Possible Rate Hike

The Office for National Statistics of UK further put pressure on the Bank of England over the issue of the rate hike next month after it lacks confidence to the pacing of the labor costs. On Monday, the official statistics agency admitted the mistakes made on its initial estimates for the growth of wage costs unit. The calculation is shown an annualized 2.4 percent in three months to June against the earlier published 1.6 percent on Friday.

The upward revision indicates that growth wages in Britain could be a driving force closely examined by Threadneedle Street, while there is a possible rate increase for the first time in the past decade. Moreover, the growing labor costs imply the strengthening of the economy, confirming a raise in interest rates.

The borrowing cost would likely boost from 0.25% to 0.5% and the committee for the monetary policy should decide whether the economy is capable to come up with the increase.

Regardless of the optimistic signs of the economy, there are varying prospects for a weaker scenario. As reports from the construction sector revealed signs for a possible downturn. While the Organisation for Economic Co-operation and Development, on the other hand, predicted that UK economy will slow-up in 2018.

Furthermore, analysts from Swiss bank UBS mentioned that the rate hike could worsen the potential reversal of the British economy due to Brexit procedures.

The wages of British laborers were not able to surge over inflation rate since the 1970s in spite of low levels of unemployment. However, salary growth is improving but fail to keep its pace due to a high cost of living brought by imports value relative to the sluggish pound.

 

[Andrea_ForexMart]

Economic News

Rise in German Exports and Bigger Trade surplus in August

Exports from Germany surpassed imports in August bringing the gap of the trade surplus wider and reflects the performance of the Europe’s biggest economy where it appears to be robust in the third quarter on Tuesday.

The exports were seasonally adjusted and climbed by 3.1 percent for October while imports got higher by 1.2 percent according to the data from the Federal Statistics Office. This has been the highest growth of exports in twelve months.

Overall, both exports and imports had operated better than anticipated. A poll from Reuters noted that the exports increased by 1.0 percent and imports ascended by 0.5 percent. On the other hand, the seasonally adjusted trade surplus gapped much bigger at 21.6 billion euros or $25.42 billion after adjustment on 19.3 billion euros in July. The reading from August was much elevated than the predicted figure of 20.0 billion euros from Reuters.

The wider account surplus shows the exchange of goods, services, and investment as it dropped to 17.8 billion euros and revised upwards to 19.6 billion euros in July which is not modified.

 

[Andrea_ForexMart]

Economic News

Expected Positive Recovery on World Economy, says IMF

On Tuesday, the comprehensive global economic growth is expected to remain this year until 2018, according to the International Monetary Fund (IMF). While the gains of most countries around the globe were able to countervail weak data from India, United Kingdom, and the United States.

The IMF revised higher its predictions for the current economic upswing by 0.1 percentage points, showing 3.6 percent increase and 3.7 percent for next year. The upgraded forecast was steered by the increase in consumer confidence, investment, and trades.

Moreover, projections for China, Japan, and the euro area, including emerging markets, Europe and Russia, also skyrocketed.

The economic development in the United States remained unchanged at 2.2 percent in 2017 and 2.3 percent next year based on Fund’s July statistics. The tax reduction imposed by Trump administration is still not accomplished, as expected.

As indicated in the Fund’s report for April, the 2017 growth outlook for the United States was trimmed by 0.1 percentage points and 0.2 percentage points in 2018, and suddenly raise in July with the same points.

The Republican party had laid out three tax proposals seeing that Trump governs since January and the administration's most recent action is stuck in a political dispute in Congress.

The Fund affirmed that America’s economy would slow down due to changing demographics and weak productivity development in the longer term. It further mentioned that the potential growth of the state will only be at 1.8 percent, which is lower than the government’s target at 3.0 percent.

 

[Andrea_ForexMart]

Economic News

Canada Ahead Against G7: IMF Economic Growth Estimate for 2017

The Canadian economic growth increased the estimated value until next year of the International Monetary Fund. It was placed in a higher ranking amongst developed countries.

The projected value of the country’s Gross Domestic Product for this year is 3.0 percent which is half a percent higher than the prediction in July. This makes Canada be on top of other advanced seven nations with the United States ranks at 2.2 percent growth since last year.

The figures from the IMF were similar to the quotation issued in the previous month by the Organisation for Economic Co-operation and Development and assumed that the country would lead the G7 countries for 2017.

It was said that the reason for an increase in growth was the drop in oil and gas prices and further supported by the government and the central bank policies. For next year, the Canada is anticipated to move at a slower rate with an estimated figure of 2.1 percent growth year-on-year in 2018. Yet, this is still higher than 0.2 percent than the IMF July update and second-highest among the G7 with the United States at 2.3 percent.

 

[Andrea_ForexMart]

Economic Calendar

Know what will happen next in the financial markets with ForexMart's Forex Economic Calendar.

ForexMart's Forex Economic Calendar is a real-time, customizable, and multifunctional, forex tool that allows traders to be updated with the latest and most relevant market events. All information that could be potentially impact your trading will be listed and analyzed here.

A trader that knows more, profits more. Use ForexMart's Forex Economic Calendar and become a better trader today.

 

[Andrea_ForexMart]

ForexMart Cements New Partnership with HKM Zvolen

ForexMart has added a new industry giant in its growing list of partnerships with established sports companies: HKM Zvolen.

Hokejový Klub mesta Zvolen or HKM Zvolen for short is one of the most celebrated hockey teams in Slovakia. The professional hockey club has established a long rich history that can be traced back as early as 1927. The club has two Slovak league championship under its belt and the 2005 IIHF Continental Cup.

The partnership between ForexMart and HKM Zvolen has been an awaited collaboration with both companies enthusiastic for a prosperous relationship.

Executives of ForexMart expressed their optimism with the new partnership.

"Gaining a new partner in this business is a sign of enduring success for both parties. I am excited at the prospects of cooperation with HKM Zvolen because I see a future full of possibilities. We are ready to win not only in the hockey rink but also in business."- Savvas Patsalides, ForexMart CEO

"I've always believed that winning can only be achieved through hard work and solid teamwork, qualities that are the essence of both ForexMart and HKM Zvolen. We are proud of this partnership because just like them, we are in the business not only to win, but also to grow as a team with our clients."- Ildar Sharipov, ForexMart President

ForexMart and HKM Zvolen will launch collaborative projects that intend to promote both companies. ForexMart will also stand as sponsor of the hockey team with the HKM Zvolen players bearing the official ForexMart logo in their upcoming games.

ForexMart and HKM Zvolen awaits a bright future with this collaboration.

 

[Andrea_ForexMart]

Economic News

Japan’s LNG Infrastructure Offered to Asia

The government of Japan will disclose a public-private initiative amounting to $10 billion, its goal is to draw on the rapid expansion of liquefied natural gas infrastructure due to high consumption of fuel all through Asia.

The Nippon Export and Investment Insurance (NEXI) and Japan Bank for International Cooperation (JBIC) will serve as agents in engaging Japanese firms to investment plans aiming to establish LNG infrastructure as power plants and offloading terminals.

The minister of economy, trade and industry, Hiroshige Sekō, is scheduled to unveil the project in Wednesday during the LNG Producer-Consumer Conference. Leading officials such as the prime minister and cabinet members would likely be in the event, promoting relevant projects to different regions. Moreover, the plan is formed to improve the partnership between the United States and Japan. As shale gas production was withdrawn in the U.S which further caused an issue for finding buyers for the natural gas.

The arrangement between America and Asia to expand shale gas exports is anticipated to tackle at U.S.-Japan economic dialogue meeting on October 16 in Washington, hence the initiative is expected to achieve this goal.

The factor that confines growth of the LNG market is the agreements stating about the restricted reselling of fuel. Meanwhile, India and Japan are expected to sign an LNG cooperation on Wednesday making LNG supply contracts flexible.

 

[Andrea_ForexMart]

Economic News

Significant Impact of Reversing Brexit on the UK Economy is Possible

According to the world’s leading economic think-tank, the reversing Brexit is expected to cause a positive and significant impact towards the British economy, issuing an extreme warning on the possible consequences of EU exit.

Based on the report that highlighted the weak economic growth of UK since the referendum last year, the Organisation for Economic Co-operation and Development (OECD) warned of the possible risks in establishing an essential trade deal with the European Union.

The UK economy has the tendency to hinder its progress by a disorganized Brexit, in case of a failure of Brussels negotiations. This could further push the sterling pound lower resulting in a failing credit rating in the UK. Also, it underlined the uncertainty of Britain to break up whenever Northern Ireland and Scotland consider again their fate in the EU due to Brexit.

José Ángel Gurría, the OECD secretary general, advised that increasing inflation triggered by the sluggish pound would likely stall investments and expenditure. While the government should not create new barriers within EU and UK.

On the other hand, Chancellor Philip Hammond persisted that actions from the government relative to the referendum provided necessary confidence for businesses.

At the same time, British Liberal Democrat Jo Swinson addressed that the report caused vindication to the call of her party regarding a new referendum that offers an “exit from Brexit.”
While according to Shadow Chancellor John McDonnell, the report depicted a “damning picture” about the economic management by the government coupled with the Brexit process.

Moreover, the most recent United Kingdom OECD Economic survey forecasted growth in the economy by 1% next year, this projection could get worse without free trade agreements. The EU exit exacerbates the demand to renew employment productivity growth, considering the statement from the OECD that it remained steady and failed to manage any meaningful contribution to British output since 2007. Hence, this is the weakest data outside South East England and Greater London.

The differences among regions and labourers could lead to a significant distinction between people with regards to profits and resources, work and income and skills and education.

 

[Andrea_ForexMart]

Economic Calendar

Know what will happen next in the financial markets with ForexMart's Forex Economic Calendar.

ForexMart's Forex Economic Calendar is a real-time, customizable, and multifunctional, forex tool that allows traders to be updated with the latest and most relevant market events. All information that could be potentially impact your trading will be listed and analyzed here.

A trader that knows more, profits more. Use ForexMart's Forex Economic Calendar and become a better trader today.

 

[Andrea_ForexMart]

Economic News

ECB’s Asset Reduction of €40B Starting This October

On October 26, the European Central Bank is scheduled to reduce their monthly asset purchases to 40 billion euros from 60 billion euros as reported from the poll of Reuters. The results were divided on whether it will last for six or nine months following the program.

The E.U. is undergoing the “best” momentum in growth for a decade yet, the inflation is kept at 1.5 percent and it is still lower than the target of ECB at almost 2 percent. The anticipated figure is hoped to be maintained until at least 2019.

The central bank is put under pressure by some members of the ECB’s Governing Council to send some signal with the intention to take it easy and put an end to their quantitative easing program since the general economic situation in the eurozone has already improved.

Moreover, a more impactful action of the ECB is putting a limit on the amount of debt which is about to be attained by the central bank despite more than two years of purchases worth greater than 2 trillion euros consisting mainly of government bonds. The set limit on the allowed debt is permitted in some countries. This implies that the central bank would not augment the guideline and does not have much of a choice but to trim its purchases and strive to oversee the objective as much as possible.

The chief economist of ING described the October meeting to be one of the “greatest balancing act” since. The ECB needs to cut its bond purchases as a solution to the shortage problem but at the same time, they have to maintain a loose inflation target. Moreover, he said that they have to make an effort in publishing the report and to prevent from the misconception of being overly hawkish which makes easing a problem in this stance.

A survey in a much larger stand including more than 100 economists last October 11 to 17 has indicated growth in comparison to the former polls. Although, it has been forecasted that the eurozone growth will be sluggish next year and keep the inflation forecasts the same or lowered.
A total of 45 economists mentioned as an additional question on its most recent poll saying that the ECB will push through the reduction program in the October meeting. The target amount of reduction for January is assumed to be at a bigger value ranging from 5 billion euros to 40 billion. The median was lessened up to 20 billion euros.
Forecasts

The predicted growth for the eurozone economy is 0.5 percent in the previous quarter similar to the present whilst there was 0.6 percent in the second quarter. Overall, the Average whole year growth was predicted to be at 2.2 percent for this year from 2.1 percent forecast in September.
On the other hand. the predicted inflation rate was an average of 1.5 percent for the year and 1.4 percent the year after which has been kept the same from the survey in the previous month.

As for the forecasts for big countries, they were all revised higher according to the most recent survey. The biggest economy in Europe, Germany, is anticipated to grow 2.1 percent this year and 1.9 percent the following year. This was revised up compared to the July poll estimates of 1.8 percent in 2017 and 1.7 percent and 2018. Moving to France, the prediction was also revised from the previous one with an average forecast of 1.7 percent until 2018. Nevertheless, this is still on the track of Macron’s government projections.

 

[Andrea_ForexMart]

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

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

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

 

[Andrea_ForexMart]

Economic News

Unemployment Rate in France Drop in September

The total unemployment figures of France reduce in September based on the records from the Labour Ministry issued on Tuesday. This encourages French President Emmanuel Macron to execute further efforts to improve the job market.
The number of unemployed individuals in the mainland France was lowered down by 64,800 last month, this is the largest decrease since 1996.
The 1.8 percent drop after a month and 0.5 percent within a year resulted in a total of 3,475,600 jobless people which is the lowest level from the month of April.
The improvement was achieved due to reform efforts by Macron’s leadership that created more jobs and increased growth.

President Macron is considering the reduction of unemployment in the country down to 10 percent for years, overhauling the rules of labor industry last month. This could be followed by some changes in unemployment benefits and professional training subsequently.
The business confidence of France also perked up since Macron’s victory in May elections. The French politician pro-business reform agenda tend to shift company’s activities upwards in order to manage robust demand, according to a survey published on Tuesday morning.
Moreover, the emergence of new businesses led companies to hire additional workers in October which could regulate rising backlogs, hence, this is the fastest pace recorded in a decade based on the monthly purchasing managers survey.

On the other hand, industrial firms reported that their efficiency is moving towards the highest levels prior the outset of 2008-2009 global financial crisis indicated in a quarterly survey by the INSEE statistics agency on Tuesday. The expanding number of companies seems struggling to keep up with the demand. There are 32 percent of managers who admitted facing some congestion in the production system. This could be a positive indicator for the job markets considering that companies are forced to take more laborers in order to cope the demands of the client, therefore, reducing the unemployment rate.

 

[Andrea_ForexMart]

Economic News

Possible Deflation Period of Japan to End Before the Tax Rate Hike in 2019

The government could conclude that the economy has been a steady growth to end the deflation period prior to a tax rate hike in October 2019, according to the government authorities.
This report would support Prime Minister Shinzo Abe, who just won the ruling Liberal Democratic Party in Sunday’s election. At the same time, this is in-line of the “Abenomics” stimulus policies implying that it is executed accordingly.

The government is yet to determine when it can be declared that the deflation has officially ended. Hence, the announcement of the government in ending the deflation was put aside, considering the feeble state of the economy and its recovery with the risk of price depreciating again. This can be publicized when the consumer inflation rises to levels around 1 to 15 percent while maintaining the gross domestic product (GDP) deflator, which is another measure of prices, more than 1 percent at a steady pace, stated by one of the officials.

The Core consumer prices increase by 0.7 percent in August since 2016 considering the increase for eight consecutive months. At the same time, this shows positive signs of growth in the economy.

The GDP deflator declined by 0.4 percent for three months until June in the same period from last year and an overall decline for four succeeding quarters.

Japan has been in a difficult pace for 15 years in the process of deflation since the bubble burst in inflation of assets in the late 1990s. It has been Abe’s top priority since he seated as the prime minister since 2012.

Abe mandated to halt the deflation and the governor of Japan’s central bank, Haruhiko Kuroda vowed to attain the 2 percent inflation target of the central bank through aggressive easing of monetary policies.

On the other hand, ending the deflation would stimulate the private consumption by boosting the public sentiment. Also, this would give grounds to proceed with the planned sales tax hike from 8 percent to 10 percent in the next two years as mentioned by the government officials.

Another official has supported this statement saying that it would be favorable to continue with the hike. However, these statements would not induce the Bank of Japan to reverse its huge monetary program because inflation would still be insufficient to reach the two percent target which they also noted.

 

[Andrea_ForexMart]

Economic Calendar

Know what will happen next in the financial markets with ForexMart's Forex Economic Calendar.

ForexMart's Forex Economic Calendar is a real-time, customizable, and multifunctional, forex tool that allows traders to be updated with the latest and most relevant market events. All information that could be potentially impact your trading will be listed and analyzed here.

A trader that knows more, profits more. Use ForexMart's Forex Economic Calendar and become a better trader today.

 

[Andrea_ForexMart]

The current Money Fall contest has already started on October 30, 2017 and will end on November 3, 2017.

You can register for the next competition which will take place from November 6, 2017 to November 10, 2017 (Terminal time)

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

 

[Andrea_ForexMart]

This week’s most popular deal:



Risk Warning: Foreign exchange is highly speculative and complex in nature, and may not be suitable for all investors. Forex trading may result to substantial gain or loss. Therefore, it is not advisable to invest money you cannot afford to lose. Before using the services offered by ForexMart, please acknowledge and understand the risks relative to forex trading. Seek financial advice, if necessary.

 

[Andrea_ForexMart]

Economic News

Lebanese Pound Stabilized After PM’s Resignation

The central bank of Lebanon has assured that the Lebanese pound has been steadfast, according to the state-run National News Agency even after the unexpected resignation of the country’s prime minister Saad al-Hariri

The central bank along with the financial sector has executed financial operations in the assessment of Governor Riad Salameh. The Lebanese currency is set at an approximated value of 1,500 against the dollar.

 

[Andrea_ForexMart]

The current Money Fall contest has already started on November 6, 2017 and will end on November 10, 2017.

You can register for the next competition which will take place from November 13, 2017 to November 17, 2017

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

 

[Andrea_ForexMart]

Economic News

Shenzhen Topped as the Most Innovative City in China, says HSBC

Based on the new research led by the HSBC, companies that are located at Shenzhen in Southern China are considered the most innovative, even though a lot of traditional manufacturers shifted into the new economy along with the growing start-up sectors.

For ages, policymakers in the country are expecting for further innovation in order to heightened growth. This was reiterated by President Xi Jinping during his policy address during Chinese Communist Party’s 19th Congress in October, urging for greater modernization from Chinese firms and to acquire big data as well as to improve internet technologies and artificial intelligence.

The HSBC report assessed the “innovative power” of more or less 1,200 companies in China that were included in the list, the result shows that Shenzhen-based businesses obtained the highest average score. The main category for the assessment is gauged according to the range of its research and development investment statistics, total patent applications, as well as the inventive business model compared with other features.

The city was hailed as the most competitive urban in China, and ranked sixth most competitive all over the world, as shown in a separate data from the UN and the Chinese Academy of Social Sciences released last month.

Shenzhen is composed of more than one million private companies which includes business giants such as Tencent Holdings, BYD Auto Co., and Huawei and ZTE.

Other reports also presented that few of industrial provinces take after the ranking, particularly the plateau province of Shanxi, the northern Chinese province is known for its coal mining livelihood. Also, the northeastern Liaoning province is recognized for ferrous metals production and mining. The districts gained 34 percent and 29 percent in 2016, respectively, despite low levels of inflation.

Generally, the current “innovative power” from Beijing-based companies increased by 13 percent compared with the survey last year.