Company News by ForexMart

[Andrea ForexMart]

 

Consumer Confidence of the Eurozone Plummeted

 

The consumer confidence of UK for this month declined while the British currency weakened. The prices rose and wage growth dwindled which influenced the Britain’s economic powerhouse.

 

The monthly household sentiment of GfK had a dipped and stayed below zero for the 10th month. The level for major purchases also decreased which implied that British citizens probably controlled their expenditures.

 

Another assessment by YouGov coupled with the Centre for Economics and Business Research is the job security index which further decline reaching its lowest result three years ago.

 

After the Brexit referendum, the private consumption as well as the services industry have compelled the economy, however, it set out some signs of economic strain. During the EU exit, the inflation increased as the energy cost climb higher together with the 16 percent cut in the sterling pound.

 

Furthermore, the growth of credit had a steep decline in December whilst retail sales inched up at its slowest pace since January 2014.

[Andrea ForexMart]

 

Investors Shift Focus from Trump Statement to Fed Movements

 

Investors are now shifting their focus from Donald Trump’s Congress address to the timing of the Federal Reserve’s interest rate hike in spite of Trump’s speech lacking significant details. This has been a cause of relief for Japanese investors, since a shift in the market focus would offer some sort of buffer for the Japanese yen, whose value seems to be consistently weakening during the past trading sessions. The JPY increased its losses for the third consecutive day, while Japanese equities posted rallies during the past session.

[Andrea ForexMart]

 

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

 

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

 

Note:

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

 

[Andrea ForexMart]

 

Philip Hammond to Allocate $676 Million to Boost UK Tech

 

UK Chancellor Philip Hammond has announced that he will be utilizing Wednesday’s budget to offer more than 550 million pounds or over $676 million sourced from the National Productivity Fund in order to improve the country’s technology and innovation sector. The said funds will be directed to developments in robotics, artificial intelligence, and even electric vehicles, according to a statement released by the Treasury. In addition, Hammond also plans to improve 5G mobile network coverages in UK by way of this particular funding.

[Andrea ForexMart]

 

$1000 Draw

 

ForexMart clients can now get a chance to win $1,000 by joining ForexMart’s Chance Bonus offer. Simply deposit at least $300 or more in your trading account and you will automatically become qualified for the raffle.

 

Winners of the Chance Bonus offer will be chosen via random electronic draws. The $1000 is automatically credited every Monday to one of the eligible accounts which met the conditions of the raffle during the previous week. The Chance Bonus offer can also be mixed with other types of ForexMart bonuses. Clients can also opt to cancel their Chance Bonus eligibility by sending us a notification e-mail at [email protected].

[Andrea ForexMart]

 

Australia's Interest Rate Remained on Hold

 

Australia kept its interest rates steady on Tuesday, March 7, because the property prices of Sydney continued to increase its risk which exceeded a much-lowered inflation rate.

 

The Governor of Reserve Bank of Australia Philip Lowe concluded together with his board to remain the cash rate at 1.5 percent after a positive growth and optimistic performance in trading for the last three months of 2016. According to the poll led by Bloomberg, the decision were already projected by all 29 economists.

 

Moreover, the housing demand in Sydney remained stable since buyers settled a property in the city which further ratcheted up debt records.

 

The central bank decided to maintain its policy despite an extremely high house prices which partially stirred by the increasing population size coupled with the absence of family dwellings constructions.  

 

Furthermore, the country’s economy rose by 1.1 percent in Q4 versus the past three months and the 2.4 percent gained from a year ago.

[Andrea ForexMart]

 

Launching of Czech Version of ForexMart

 

ForexMart team have upgraded the website by adding a Czech version using the country’s native language. We are glad to introduce the newest Czech translation on (Date), which could help Czech and Slovakian citizens to easily interpret and find important information about the company’s special offers, partnerships and pool of trading instruments.

 

Clients could simply select the Czech language (or any other required language) by clicking the Czech flag on the language selector found in the upper right of the site.

[Andrea ForexMart]

 

Canada’s Economy Lead Over other G7 Countries

 

The Canadian economy is expected to gain 2.4% this year with equal expectations as of the United States and in the lead of other countries included in the Group of 7. The estimates were based from the  Organisation for Economic Co-operation and Development

(OECD) release.

 

The international organization formerly mentioned about Canada’s possible economic improvement by 2.1 in 2017, which came in better and still appeared to be modest compared with the previous years of recoveries from economic decline.

 

The Paris-based institution hike up its projections for the selected biggest economies in the world which further includes USA and China, however, its evaluation for the world economy kept steady at 3.3% versus 3% in 2016.

 

Furthermore, the report mentioned that the US and Canada would likely outstrip other seven major economies which involve Germany as the next highest among the G7 with 1.8% growth in GDP.

 

For 2018, it is expected that the U.S. economy will earn 2.8% and 2.2% growth for Canada. Moreover, the forecast for the global economic growth is said to be 3.6%.

[Andrea ForexMart]

 

The current Money Fall contest has already started on March 13, 2017 and will end on March 17, 2017.

 

You can register for the next competition which will take place from March 20, 2017 to March 24, 2017.

 

Note:

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

[Andrea ForexMart]

 

Iceland's Jóhannesson Urges to Cut Interest Rates

 

Benedikt Jóhannesson, minister of finance in Iceland, have affirmed that the nation’s central bank had to slash interest rates another time in order to ease the pressure weighed on Icelandic krona  (ISK) together with the removal of capital controls.

 

Jóhannesson also mentioned that he does not have any “influence” regarding this decision as the government have taken these actions to lessen the pressure against the economy, as well as  to prevent overheating, to the extent of rising of budget surplus.

 

On one side, the administration hopes that the steps to cool down pressure on krona will be sufficient to realize more foreign investments for the pension funds. The ISK increased by 17 percent versus  the European currency on the previous year, it was able to climb higher due to burgeoning record of tourist inflow. On Monday, krona plummeted by 3 percent while bond yields rack up. The recovery of the currency was recorded on Tuesday in the capital city of Reykjavik with an increase of 0.6 percent.

 

The financial and legislative precautions were implemented as no one can say when will the country would experience the crisis again.

 

[Andrea ForexMart]

 

Puerto Rico G.O. Bonds Dropped to its Lowest in 2 Months

 

Puerto Rico’s General obligation (GO) bonds dropped after the financial recovery plan has been approved which is comprised less than a quarter of total unpaid debts. The revised proposal was granted by Governor Ricardo Rossello on Monday aiming to cut the chronic budget deficits.

 

Securities due 18 years from now which is the most traded has declined by 5 percent with an average of 67.5 cents on Tuesday, its lowest price in two months while those bonds due after 22 years fell to 60.2 cents from 63.8 cents on Monday.

 

This plan will mark as the benchmark as they talk through on minimizing its debts. Although the outcome is negative, the authorities are still sanguine with the end result. The governor commented that the as of now, the country has chances to deal with various bondholders at different levels and they are still in the process of evaluating the best most suited solutions in consideration of bondholders and the people of Puerto Rico.

[Andrea ForexMart]

 

Peruvian Economy Beef Up Reaching 4.81% Growth

 

In January 2017, the economy of Peru rose up to 4.81% which indicates the progressive the country’s growth for 90 months. The surge was supported by the excellent performance from the primary sectors, particularly fisheries and mining based from the National Institute of Statistics and Informatics (INEI) report released on Wednesday.

 

Head of INEI, Anibal Sanchez have said that the GDP of Peru gained 4% for the past 12 months from the months of February 2016 until January 2017.

 

During the first month of the year, the hydrocarbons and mining industry grew by 14.75%, at the same time the fishing activity boosted by 42.17%.

 

The economic development exceeded analysts estimates of 4.5% based on the Reuters poll. The upbeat figures were underpinned by the growth in foreign demand which proves 8.09% increased for total exports.

[Andrea ForexMart]

 

Germany and Japan Promotes Free Trade Deal

 

German Chancellor Angela Merkel and Japan’s Prime Minister Shinzo Abe discussed free trade between countries on Sunday’s major technology fair. Both representatives would like to aim for a faster pace regarding this matter and wanted to have an agreement in this year while G20 finance ministers and central banks commented an open trade during their two-day conference in Germany. The issue of Protectionism was avoided by both leaders in the beginning of the CeBIT technology fair, implying that people are currently more open with regards to free trade and open borders with giving importance to democratic values.

[Andrea ForexMart]

 

The current Money Fall contest has already started on March 20, 2017 and will end on March 24, 2017.

 

You can register for the next competition which will take place from March 27, 2017 to March 31, 2017

 

Note:

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

 

 

[Andrea ForexMart]

 

Denmark Repayment of Debt After 183 Years

 

The Scandinavian country, Denmark is scheduled to pay off its latest foreign currency loans with an amount of $1.5bn at the present moment. Freeing the nation from any debt obligations regarding FX which will happen for the first time in 183 years.

 

Based on the records of the Danish central bank, the government almost paid the loan back in the year 1894, that was the time when the total of FX debt was lower than 1 percent of the GDP.

 

Denmark had its first foreign debt during 1757 with a half a million worth of rigsdaler issued by Netherlands and Germany. Moreover, the external debt owed by the country expanded in order to finance 19th-century wars. Despite the repayment, the sovereign state is not fully clear from debt, except for all krone-denominated concerns.

 

The debt-to-GDP ratio of the state as a whole is considered one of the least among the list of major economies in the European region, accumulated 38 percent and projected to drop about 36 percent for next year announced by the European Commission.

[Andrea ForexMart]

 

Launch of “Analytical Reviews” Section

 

Dear clients!

 

We are glad to inform you about the launch of “Analytical Reviews” section on our website. Since then you won’t have to look for financial analytics on third-party resources – you just need to visit the relevant section on the ForexMart website.

 

In this new analytical section it will be possible to find up-to-date information about popular currency pairs, trade ideas and recommendations, as well as analytical reviews, forecasts, charts and overall description of the current market situation.

 

We hope that this innovation makes your trade more convenient and pleasant. Stay tuned and remain abreast of the latest economic trends with ForexMart!

[Andrea ForexMart]

 

South Korea’s Economic Expansion Remained Slow Amid Recovery in the Global Market

 

In spite of signs of improvement in the global economy, Yongmaan Park, Korea Chamber of Commerce & Industry (KCCI), affirmed that South Korea still lack momentum for the early recovery. The KCCI chairman announced this in a National Assembly with the four of the main South Korean political parties held in Seoul.

 

It became evident that the country is continuously suffering from a growth failure with the Bank of Korea based on the forecast of economic development at 2.5 percent for the current year, including an increase in jobless rate, high household debts and the penalties imposed by China with regards to missile row.

 

Moreover, Park also mentioned that they are currently sustaining a growth rate with a range of two percent.

 

[Andrea ForexMart]

 

Slew of Scandal Involvements Prompts Samsung to Apologize to its Investors

 

Tech giant Samsung Electronics Co. issued an apology last Friday following the firm’s involvement in several national scandals that eventually led to the impeachment and eventual ouster of former South Korean president Park Geun-hye as well as the infamous recall of the company’s flagship smartphone, the Samsung Galaxy Note 7. In addition to the said apology, Samsung has also promised to improve its internal governance amid pressure from its investors. Samsung Vice Chairman Kwon Oh-hyun delivered the said apology during its annual shareholders’ meeting. Samsung heir Jay Lee was not present at the said meeting as he is currently facing several bribery and embezzlement charges.

 

[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]

 

Nigeria and Norway Seek Opportunities to Non-oil Sector investments

 

Stakeholders from Nigeria and Norway looked for opportunities outside to increase direct foreign investments from the non-oil sector to uplift its economy and improve bilateral ties. The Nigerian Export Promotion Council (NEPC) assumed possible earnings as much as $18 billion by 2019 if properly executed.

 

The Nigerian-Norwegian Chamber of Commerce (NNCC) was established to promote trade and investment to lessen the barrier and limit transaction risks between countries.

 

Norway has an advanced industrial sector while Nigeria presents opportunities with high capital, agricultural sector, infrastructure, vast mineral resources and value added manufacturing. They complement each other moving towards the same goal of economic diversification from the conventional growth driver which is the energy sector.

[Andrea ForexMart]

 

POBA Acquires Brederode Worth W130b

 

Public Officials Benefit Association (POBA), a local authority that manages the retirement funds of functionaries, were considered to be the bidder for Belgium-based venture company, Brederode worth 130 billion won (US$117 million), as mentioned by some sources on Tuesday.

 

POBA is said to acquire 100 percent stake of the company from an unnamed real estate investment trust (REIT) for 74 billion won (US$66 million). While the other  56 billion won (US$50 million) will be used to finance a loan from a local financial organization.

 

The association expects to obtain a 5% annual return derived from the transaction after six years.

 

The office complex is made up of three 6-floor buildings comprises of  22,300 square meters. The establishment can be found at Brussel’s commercial centre city, near the Central Station and Belgian Royal Palace.

 

The building has been permeated by six corporation which involves the global law firm,

 

Linklaters LLP with more than 13 years of contract under Brederode.

 

According to an unknown official from the Seoul-based organization, the company takes its focus on the real estate market in the European mainland on the back of Brexit triggered in the previous year.

[Andrea ForexMart]

 

The current Money Fall contest has already started on April 3, 2017 and will end on April 7, 2017.

 

You can register for the next competition which will take place from April 10, 2017 to April 14, 2017.

 

Note:

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

[Andrea ForexMart]

 

Turkey Inflation Rates Reached Double Digit After 5 years

 

The price for the Annual consumer price increased as high as 11.29 percent in the month of March as the country faced with economic problems as Lira dropped down and the surge in oil market which is the worst condition since 2008. This caused the inflation rates to reach double digits for the first time in five years.

 

The policymakers are being pressured as they try to stabilize the weakened currency and at the same time sustain the growth by the start of the year. Currently, the central bank targets inflation rates from 3 to 7 percent but the March result was not as expected with the 10.7 percent reading.

 

Although, the Lira has been secured in the past few months because of tightening in its monetary policy. The economic growth also has shown signs of recovery in its recent fourth quarterly GDP as it rose by 3.5 percent after a drop of 1.8 percent in the past quarter which has been the worst decreased since the financial crisis.

[Andrea ForexMart]

 

Australian House Values Surged by 1.4 percent in March

 

The housing prices in the main cities in Australia accelerated in March with the fastest growth in annual basis nearly in seven years.

 

According to a CoreLogic, California-based property consultant, the house price index from the major towns rose to 1.4 percent in the previous month versus the gain of the other month.

 

Moreover, the annual growth rate of prices ascended to 12.9 percent from its previous figures of 11.7 percent. The result beat the past highest point in 2015 as well as the fastest pace recorded in May 2010.

 

This event triggered concerns of Reserve Bank of Australia (RBA) based on speculations that it was fueled by debt which could affect banks and consumers eventually.

 

The central bank implemented more constricted guidelines on investments and interest-only mortgages as a means to ease the market. The RBA further increased interest rates and blamed regulatory costs.

[Andrea ForexMart]

Student Debt Burden Weighs Down US Rates—Dudley

 

Fed New York President William Dudley stated that US interest rates are being weighed down by the increasing burden of student loans, and that policymakers should seriously consider implementing free tuition fee rates for college students. In addition, Dudley and several of his colleagues are saying that the US economy has already lost its potential to grow as fast as before the financial crisis in 2008 due to a number of factors, such as a steadily-aging population, diminished spending powers by households, and very dismal productivity growth.