Company News by ForexMart

[Andrea ForexMart]

 

South Korea Growth Outlook Revised to 3 Percent in 2017

 

The growth forecast of South Korea for 2017 was changed on Tuesday pledged to maintain an expansionary fiscal policy that would boost employment. The projected data is an expansion of 3 percent which is already the quickest since the 3.3 percent three years ago. The latest was revised was higher from the previous 2.6 percent and the Bank of Korea outlook of 2.8 percent.

 

The rise in global demand of goods supporting growth in the latter six months of the year has progressed which includes fiscal spending worth 11 trillion won ($9.85 billion) as the additional budget on July 22nd. There is high hopes that this would raise growth by 0.2 percent this year as the country’s potential growth rate of 3 percent which seems possible as the government implements reforms towards “consumption-led growth” according to the finance minister.

 

[Andrea ForexMart]

 

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.

[Andrea ForexMart]

 

The current Money Fall contest has already started on July 31, 2017 and will end on August 4, 2017.

 

You can register for the next competition which will take place from August 7, 2017 to August 11, 2017

 

Note:

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

[Andrea ForexMart]

 

Winners for the week July 10 to July 14, 2017.

Contest Prizes:

 

1st Place - 300 USD

2nd Place - 90 USD

3rd Place - 75 USD

4th Place - 70 USD

5th Place - 65 USD

6th Place - 60 USD

7th Place - 55 USD

8th Place - 50 USD

9th Place - 45 USD

10th Place - 40 USD

 

 

[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 contest has already started on August 7, 2017 and will end on August 11, 2017.

 

You can register for the next competition which will take place from August 14, 2017 to August 18, 2017

 

Note:

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

 

[Andrea ForexMart]

 

Economic Calendar (Tuesday, August 8, 2017)

 

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 August 14, 2017 and will end on August 18, 2017.

You can register for the next competition which will take place from August 21, 2017 to August 25, 2017

Note:

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

 

[Andrea ForexMart]

 

Japanese Trade Surplus Decline in July as Exports Rise

 

The merchandise trade surplus in Japan reduced lower than the anticipated in July while the growth of exports and imports gained double-digit percentage. According to the Ministry of Finance, the trade balance came in at  ¥418.8 billion ($3.8 billion) last month, after the  ¥439.9 billion surplus in June. The country was able to maintain its trade surplus in five of the last six months.

 

Exports rose at annual rate of 13.4% in the previous month, after a 9.7% increase in June. On one side, imports grew by 16.3 earlier this year, next to 15.5% expansion a month before.

 

Tokyo reported that the trade surplus last month accounts to ¥337.4 billion ($3.07 billion) based on a seasonally adjusted basis, as the surplus prior that month is  ¥81.4 billion ($740.6 million), according to the official figures released.

 

The Japanese economy showed its highest level of economic growth in more than two years, despite the external demand decrease the GDP by 0.3 percentage point. This is considered significant as the economy tend to depend on exports to resume expansion. Japan’s economy increased by 1% versus the previous quarter and surge by 4% yearly. The development occurs every last six quarters which indicates the longest duration after 10 years. Moreover, exports from the world’s third largest economy are projected to continue its rise due to the momentum attained by the global economy. As imports also have the potential to boost because the domestic production mounted.

[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 Calendar for August 25, 2017, Friday

 

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]

 

Mexican Second Stock Exchange Starts Operation In 2018

 

The second stock exchange, Institutional Stock Exchange that is more commonly known by its Spanish acronym called as BIVA, in Mexico target commencement date of operations by the start of 2018 according to the new exchange president on Monday. It hopes to get the existing market in the second top economy of Latin America against the Mexican Stock Exchange also known as BMV or BOLSAA.MX.

The president of BIVA sees the prospect in the new public offering from companies with an annual sales ranges between 500 million pesos ($28 million) and 21 billion pesos ($56 million). They are said to be supported by the technology from Nasdaq which is the second-biggest U.S. exchange and accessed by more than 70 markets worldwide.

It is predicted by the president of the financial infrastructure provider, CENCOR, that the volume of publicly traded companies in the country will significantly increase as much as 30 percent to 200 percent in three years time while the daily volumes could rise close to 50 percent to 20 billion pesos in Mexican stocks.

 

 

[Andrea ForexMart]

 

Lebanon Reforms Its Economy as It Faces Large Debt

Lebanon starts to fix its frail economy following years of stagnant phase in decision-making. Yet, this also helps inhibits further growth of the debt before it becomes too big to control.

The new president, Michel Aoun who was elected last year, after years without a leader, approved just last week regarding the increase in sector pay increases and a tax hike to support the cost. This was in line on the government’s plan to adjust its prospects for Lebanon to strengthen from adverse conditions. The country's debt largely intensified since Syria’s civil war that started in 2011.

Although, the finance ministry commented that this will have a minimal impact to the fiscal balance or the debt concern. The country is ranked as the third highest debt-to-GDP ratio which has been the main rationale why Moody’s agency has pushed the credit rating very low.

Economists are hoping for other reforms to raise revenue and cease the debt from rising more that includes approval of the budget, improve the electricity sector which is copiously subsidized, increase fuel tax and tax collection and boost the investment environment.

 

 

[Andrea ForexMart]

 

ForexMart App is Now Available on Mobile

You can now use the ForexMart application on mobile.

We are launching ForexMart application on 11 january. It can be downloaded from both App store for Apple and Play Store for Android users. This allows users to trade anytime and anywhere at their own convenience by just connecting to an Internet service provider.

More and more consumers are shifting toward mobile platforms with continuous improvement in technology. Forex trading apps simplifies trading and allows accessibility through mobile phone that makes it more convenient. There is still wide range of options in placing orders from mobile devices such as iPhone or Android.

ForexMart app offers different features. Traders can access multiple charts that give real-time quotes as well as relevant economic news and latest forex analysis. Exchange rates over 100 different currencies are also available with buy and sell options. The application is especially designed for forex trading that is easy to navigate and works glitch-free for more efficient trading.

Forex traders will find this app very useful and handy. Check out this new app from your App Store  or Play Store!

[Andrea ForexMart]

 

Private Sector Positive Growth Pushes Inflation Higher

 

The month of August has been overall positive for the service sector in Germany. Higher prices uplifted the overall growth of the private sector, according to the survey on Tuesday, The solid upsurge in Europe signals that this the pace will continue. The final composite of the Markit’s PMI that monitors both the manufacturing and services sector which represent more than two-thirds of the whole economy.

 

The statistics showed an increase to 55.8 from a ten-month low of 54.7 in July. The reading was above the 50 line that divides growth from the contraction which resulted better than the initial estimate of 55.7 as published last month. The upsurge was driven by the manufacturing sector at a fastest rate since April that lead to a sudden spurt in output with new orders and export businesses.

 

The business activity was up as it reached a two-month high of 53.5 in August with the entry of more orders in a fast pace. Hiring new employees continued although the job creation has become sluggish in more than a year.

 

On the other hand, the acceleration has also pushed up inflation which has put more pressure on prices that beset the German service providers. The rate of price inflation rose reaching a five-month high while the fees charged by service providers also increase at a quicker rate since March. Hence, the growth forecast of IHS MArket was set to 2.3 for this year and 2.1 percent for the next year.

[Andrea ForexMart]

 

French President Supports EU Ties with Turkey

 

The president of France, Emmanuel Macron, commented on Thursday that the Turkey is essentially part of the European Union and sustain its diplomatic relationships despite its distressing problems as of lately. This comment from Macron supports the recent speech of German Chancellor Angela Merkel about the membership with E.U. particularly referring to Turkey which is deemed to be terminated.

 

Macron mentioned that Turkey has been distant with the European Union in the past months and has “overstepped” their actions which pertain to the customs union that cannot be disregarded. Despite this complication, he described the country to be a “vital partner” as he is against the disunity as they all confront problems concerning immigration policy and terrorist threats.

[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]

 

Drop of Oil Prices Due to the Hurricane Damages

 

Oil prices declined on Tuesday as an aftereffect of the Hurricane Irma as it weakened the demand as it counterbalances the restart of the refineries since the Hurricane Harvey. Despite the recovery of the refineries, the repercussion of cyclone Irma was less favorable of favorable for the oil market.

 

The global benchmark of Brent crude LCOc1 dropped by 35 cents to $53.49 per barrel at 08.47 GMT. On the other hand, the U.S. West Texas Intermediate (WTI) crude CLc1  declined by 30 cents at $47.77 a barrel.

 

The Goldman Sachs forewarned that there is a possibility for the demand to drop by 900,000 barrels per day for the month of September and 300,000 bpd in the succeeding month because of tropical cyclones.

 

Investors are also monitoring how the weather conditions could affect the inventories. The report from the American Petroleum Institute (API) is anticipated on Tuesday while the U.S. Department of Energy’s Energy Information Administration (EIA) will publicize the results on Wednesday.

 

Projections from experts show that the inventory reports of crude stocks will increase by 2.3 million barrels for the week of September 8. Furthermore, the prediction for the refined commodities supply will most likely decline. Despite the present problem in oversupply in oil reserves, oil producing nations particularly the Saudi Arabia and Venezuela and Kazakh counterparts with the probability of extending its lengthen of production output over the March 2018.   

[Andrea ForexMart]

 

CBA Issued $3 Bonds Despite Money-laundering Allegations

 

Bonds worth $3 billion was successfully issued by the Commonwealth Bank of Australia (CBA) in the United States amid the money-laundering allegations against the biggest lender in the country.

 

The bank had it in three-parts and sold more cheaply than anticipated that increased the funds and garnered $5.9 billion orders as reported by the Reuters on Thursday morning. It is separated into three partitions, 10-year bonds worth $700 million, 5-year bonds worth $1.15 billion and 3-year bonds worth $1.15 billion stated by the IFR magazine. Following the sudden increase in the U.S. bond market, the demand surged up with scarcity in high credit rating as it is highly applied for.

 

During the CBA meeting with the investors last week, they were able to discuss if the money-laundering issue would affect raising of debt. The Australian Transaction Reports and Analysis Centre (AUSTRAC), a financial intelligence agency of the country, filed a lawsuit against the CBA and faces anti-money and counter terrorism financing laws. At the same time, they are also confronted with a separate examination from two regulatory companies and a possible legal action. The Australian banks lost 9 percent A$14.3 billion or $11.5 billion following the AUSTRAC case.

[Andrea ForexMart]

 

Disappointing Chinese Data Weighed on Asian Shares

 

On Thursday, Asian stocks were partly lower from its 10-year highs as Chinese data showed softer than the expected figures of the markets. On one side, the dollar remained unchanged prior the release of its inflation data later this day.

 

Fixed-asset investment in China, along with the retail sales and factory output came in lower, underlining some reports that the world’s biggest economy is slowly losing its strength due to rising borrowing costs.

 

The Aussie dollar is known to a liquid proxy for China-related tradings, but its gains also reduced, reaching 0.3 percent at $0.8006 followed by the robust data on employment.

 

The shares of MSCI’s broadest index of Asia-Pacific, excluding Japan, fell by 0.1 percent on the back of reaching its highest in 2007. After the sluggish data, Chinese stocks are currently in an unprofitable financial condition and gave up its earlier gains.

 

While Nikkei Japan slid by 0.2 percent and the broader TOPIX wiped off its two-year peak along with the weakening of the Japanese yen.

 

Additionally, KOSPI index of South Korea was up by 0.1 percent while the Australian shares had a 0.2 percent dipped.

[Andrea ForexMart]

 

The current Money Fall contest has already started on September 18, 2017 and will end on September 22, 2017.

You can register for the next competition which will take place from September 25, 2017 to September 29, 2017

Note:

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

 

[Andrea ForexMart]

 

Optimistic Economic Outlook for the U.K

 

According to the Bank of England officials, the UK economy is getting quite more bullish. The Centre for Economics and Business Research revised its projection upwards for the British economy on Monday. The organization noted that the manufacturing sector rose, while the worst scenario on consumer-spending squeeze had already buttoned up.

 

Moreover, the macroeconomic consulting team predicted that the United Kingdom will grow by 1.6 percent for 2017, 1.4 percent for next year which shows an expansion of 1.3 percent versus the previous 1.2 percent.

 

The changes were applied after the BOE policy makers mentioned last week regarding their thoughts to increase interest rates for the first time after a decade. Despite the risks imposed by the Brexit, the economic statistics still showed some slightly stronger figures than expected.

 

Before the week ends, the British pound will reach 3 percent approximately as markets are pricing for a rate hike in February. Moreover, Deutsche Bank, Barclays, and Scotiabank are the banks that predicted about the increase in November.

 

 

[Andrea ForexMart]

 

Japanese Firms Expect Positive Economic Growth for US and China

 

Large number of companies in Japan have optimistic views for the American economy based on Reuters poll. This restored market confidence as they worry about the possible slow down of US growth.

 

The majority also had issued a positive forecast for the Chinese economy amid the negative outlook of few companies that prospects seem greater than for the US economy.

 

The poll made by Reuters Corporate showed that 64 percent of Japanese firms believe that the United States will continue to grow within its current momentum, while there are 19 percent who presumed that the country will further expand. The other 17 percent anticipates for a slackening growth. However, many respondents, including the manager, questioned the competence of the Trump administration in managing the main policy issues. The survey is done on August 30 until September 12, this concurred with the upward revision to U.S. GDP for Q2 which appeared to be higher than the strong consumer expenditure and business investment. Moreover, the poll started upon the arrival of Hurricane Harvey on Texas and the survey was finished when Hurricane Irma get into the shores of Florida. Even before the poll was published, experts downgraded forecasts for GDP but economic indicators showed stronger stance which led to further increase.

 

According to the survey conducted by the Reuters Corporate, there are 59 percent firms in Japan, with direct or indirect transactions with the US, stated that their business plans appeared to be running smoothly. But 33 percent claimed that there is quite delays and sluggishness while the remaining 8 percent are yet to review their plans.

[Andrea ForexMart]

 

Australian Economy Will Decline In 2018, Says Evans

 

According to some readings, Australia’s economic growth may decline in 2018, while the Reserve Bank of Australia (RBA) is planning for a rate hike and this will be the first time in late 2010.

 

The Westpac-MI Leading Index gauges the domestic and international indicators in speculating the possible outlook of Australian economy within 3-9 months. However, the composite index is down to -0.19% in the previous month and stayed in the negative zone for three consecutive months.

 

With the -0.19% result may indicate that Australian economy will decrease lower than 2.75%, this is generally known to be the current trend rate of the country. On March 2017, the rate came in at +1.13%.

 

According to Westpac chief economist, Bill Evans, the latest predictions would affect those who anticipated that the GDP growth for 2017 will reach 3%, the expectant, including the RBA may likely end up disappointed. In spite of the mixed data for this period which may further drag down the headline index, Evans remained unchanged with his views that economic growth of the county will still be lower next year.

[Andrea ForexMart]

 

US Federal Reserve Kept Interest Rates On Hold

 

The biggest crisis within the financial sector was recorded nearly a decade ago, while the Federal Reserve lead the turning point and decided to begin unwinding the stimulus in order to avoid another depression.

 

Moreover, the US Fed will begin the $4.5 trillion worth of balance sheet reduction in October and initially will start by $10bn each month. According to Fed chair Janet Yellen, the normalization process is expected to be gradual and seems foreseeable.

 

While US policymakers kept the dollar rates unchanged at 1.25% to 1.5%. The FOMC is projected to increase borrowing costs for the second time in 2017, followed by the anticipated three-time hike in 2018.

 

During the press conference, J. Yellen confirmed that the central bank has no clue regarding the failure of inflation to return to its target. In addition to, she already anticipated for the short-term damages caused by Hurricanes Irma, Harvey and Maria to the American economy. Yellen still doesn't have any plans for the future as she hasn’t met US President Donald Trump and did not even discussed whether she would pursue to have a second term after her first stint which will end on February 2018.

 

It appears that investors see the Fed’s decisions as positive, considering the shares moved slightly higher in New York. The American dollar rose amid the weakening of the US government debt. Investors are prepared with the impact of the Fed’s policies against the markets.