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Company News by ForexMart
#61
Countermeasures of China to Curb Yuan in 2017

Yuan rallied this year especially the offshore trading and China is creating its contingency plan to curb the capital outflows for 2017. The offshore yuan climbed 0.9 percent to 6.8958 against U.S. dollar which is the highest increment since January 2016.

This plan was thought to counter recovering U.S. dollar while country’s capital outflow increases. Moreover, the ongoing threat from changes in U.S. policies regarding exports under Trump’s presidency. China might also sell U.S. Treasuries this year if necessary to secure the currency. This is predicted to expand the supply for foreign exchange within the onshore market and in return would support yuan in the short term.
Andrea ForexMart, Official Representative
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#62
Inflation Rate in the Eurozone Rack Up

The inflation rate in the European region had increased, reaching its highest pace after three years. The surge is driven by the price hike for alcohol and tobacco, energy and food.

Based on the report from the Eurostat, the inflation percentage for December gained 1.1% which is notably higher from November’s result of 0.6%.

The highest rate occurred last 2013 in the month of September by which the result is also 1.1%. The final outcome is higher-than-expected which made the ECB’s target less than 2%.
The energy prices surge by 2.5% yearly, while the value of food and intoxicants grew by 1.2% year over year. Moreover, the energy costs rose due to OPEC’s resolution to decrease the production output.

The sharp jump lessened the fears of Europe regarding the possible deflation which could weakened the eurozone’s economic growth. Meanwhile, other core prices compelled by world markets had a limited rise from 0.8% to 0.9% only, this little progress would mean that the December’s inflation is “short-lived” according to analysts.
Andrea ForexMart, Official Representative
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#63
The current Money Fall contest has already started on January 9, 2017 and will end on January 13, 2017.

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

Note:
Registration for the next competition finishes 1 hour before the contest starts.
Andrea ForexMart, Official Representative
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#64
World Economy Could Receive Boost from Tax Cuts, Says World Bank

The World Bank has stated that Trump’s proposed tax cuts and other spending policies could possibly help in boosting the global economy in spite of the concerns surrounding his proposed trading policies. The international development lender further added that the incoming administration could possibly endanger the recent gains caused by various economic stimuli once it implements the setting up of certain trading boundaries which could trigger counter-policies from neighboring countries such as Canada and the UK.
Andrea ForexMart, Official Representative
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#65
China Exports Dropped in December

According to the official data released on Friday, the exports of world’s second biggest economy worsen trader’s expectation in December since the global trade kept its weak stance unchanged, while the imports growth were reduced.

Moreover, the exports for the month declined by 6.1 percent on-year in terms of dollar-denominated circumstances. Compared with the previous month of 0.1 percent hike as per report from Reuters on Friday cited in the official stats as well.

Last year, imports rose by 3.1 percent versus 6.7 percent increase in November. Whereas, the trade balance on December reached $40.82 billion against $44.61 billion for the past month.
However, economist polled by Reuters assessed the exports will lose 3.5 percent, imports will rise 2.4 percent and the monthly trade balance will arrive at $46.50 billion.
Andrea ForexMart, Official Representative
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#66
Oil Records Highest 6-Week Gains as KSA Cuts Back on Oil Production

Oil prices increased in value and has recorded its largest two-day gains within the six-week mark as Saudi Arabia prepares to cutback on its oil production way more than what was initially required as stated in the OPEC meeting a few weeks ago. Saudi’s Energy Minister has already stated that the country has already minimized its oil output to only less than 10 million barrels per day which is more than what was previously agreed on between OPEC and non-OPEC oil producers as part of efforts to curb down oil production across the globe.
Andrea ForexMart, Official Representative
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#67
The current Money Fall contest has already started on January 16, 2017 and will end on January 20, 2017.

You can register for the next competition which will take place from January 23, 2017 to January 27, 2017

Note:
Registration for the next competition finishes 1 hour before the contest starts.
Andrea ForexMart, Official Representative
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#68
Oil Prices Amp Up as the Dollar Weakens

Oil prices edged higher as the dollar weaken and the expectations about Organization of the Petroleum Exporting Countries (OPEC) en masse with other producers will reduce its output since it's part of the deal in curbing the worldwide overproduction.

According to traders the prices appears to be buoyant due to the sluggish stance of greens which made fuel cost cheaper for countries that utilize foreign currencies

The oil further accumulated support from the issued reduction for crude production which includes major producers in Russia.

OPEC also mentioned that they would cut down the quantity they produced with 1.2 million barrels each day to 32.5 million bpd starting 1st of January. However, there are assumptions that the Austria-based company will not totally execute the declared cutback whereas the agreement of 50 to 80 percent are adequate to support petroleum purchase.
Andrea ForexMart, Official Representative
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#69
Economic Assessment Shows A Moderate Growth of Japan’s Economy

The Bank of Japan economic assessment shows a positive outlook in its quarterly report on Monday. Three out of nine regions saying giving a moderate economic recovery while other regions stay the same because of higher private consumption and increase in demand from Emerging Asian countries. On the other hand, retails sales increased in November with the tightening of the labor market as wages rises as well.

This the first time after seven quarters passed with BOJ raising its assessment for different regions implying that the country is in its way to recovery at a moderate pace. It is anticipated by the analysts that the central bank will delay its planned stimulus in the next months as the economy moves having an optimistic future for the country.
Andrea ForexMart, Official Representative
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#70
Chinese Government’s Countermeasure for Decline in Home Prices

Residential property in Guangzhou climbed by 0.7 percent in December according to the report from Bureau of Statistics’ data. It is the only city who opposed the deflation program of residential properties in China.

Twenty local and provincial officials have seeked out counter measures to control loans and restrict second-home buyers to lessen the risk of elevated prices that may lead into dire repercussions. When this countermeasure has been implemented home prices from first and second tier cities steadied implying a positive change for the economy. As for the city of Beijing, he pledged that the prices of new homes will be kept unchanged for this year.
Andrea ForexMart, Official Representative
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#71
India’s Demonetization Impacts the Economy

India presented consecutive growth for less than 7 percent in the past three-quarters during December 2012 and June 2013 based on the statement from an India economist at Soc Generale, Kunal Kumar Kundu.

SocGen also mentioned the fiscal growth rate of the country for 2017 is 6.6 percent versus the previous result of 7.3 percent. The bank further expects for a 7.2 percent, lesser than the earlier prediction of 7.7 percent, for the fiscal year 2018 which will end on March 2019.
India laid out its demonetization program since November with more than 50 days from now, causing an 86% impact on the currency circulation within the country. The 500 ($7.35) and 1,000 ($14.70) rupees were replaced with 500 and 2,000 rupee notes.

The Jakarta-based investment firm reviewed the research from All India Manufacturers' Organization (AIMO), which showed that there are 35% job losses within the small scale and micro industries and suffered 50% decline in the revenue, 34 days after the demonetization program is set forth. However, in March 2017, the figures will likely drop into 60% in employment while 55% reduction in revenue as stated by AIMO, it’s because these sectors are highly dependent on cash transactions.
Andrea ForexMart, Official Representative
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#72
Pound Surges, USD Plummets After Trump, May Comments

The sterling pound finally increased in value after a long slump after UK PM Theresa May outlined her plans for the hard Brexit process, therefore clearing up some of the Brexit-related confusions and placating investors. Meanwhile, US president-elect Donald Trump has recently commented on the strength of the dollar, saying that the USD’s current value might be “too strong” for the US economy to handle. This has then prompted USD investors to vacate the dollar and move to riskier assets such as stock markets and has caused the dollar to drop in value.
Andrea ForexMart, Official Representative
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#73
The current Money Fall contest has already started on January 23, 2017 and will end on January 27, 2017.
You can register for the next competition which will take place from January 30, 2017 to February 3, 2017

Note:
Registration for the next competition finishes 1 hour before the contest starts.
Andrea ForexMart, Official Representative
ForexMart
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#74
Investors Cautious on Turkey’s Lira as Central Bank Meeting Nears

Lira depreciated on Monday as investors became heedful as their currency weakens before the central bank meeting. The country has been greatly affected by the attempted coup and concerns of the Central Bank of Republic of Turkey credibility.


Lira declined by 8 percent this year from double-digit decline since 2015. It closed at 3.7640 against U.S. dollar on Friday and got lower at 3.7682 on Monday despite the strengthening of Turkish currency.

Most of the analysts have forecasted for the CBRT to retain its current interest rates or less rate hike even below expectation during the MPC meeting. For now, the central bank relies on liquidity as indicators to help lift the currency value.
Andrea ForexMart, Official Representative
ForexMart
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#75
Bundesbank Posts Two Percent Inflation Rate for Germany

Based on the report of Deutsche Bundesbank, inflation is predicted to surge for this month. Earlier in December, the consumer price index rose together with the high energy cost which began 5 years ago. The German inflation marks two percent according to the report of Bundesbank published on Monday. The recent steep increase in the average prices of the oil products caused for the inflation to escalate to two percent for January.

However, the European Central Bank targets with an inflation rate below 2% because it is the most suitable percentage in order for the euro economy to further develop.

On the previous month, the price level of consumer expenditure grew by 1.7% after three and a half years which resulted for high-priced petroleum products. This also made oil companies including the OPEC to imply for production cuts in order to improve the price of the basic material for oil.

On the other hand, analysts predicted for 1.8% inflation in 2021. The German economy continued to improved according to Bundesbank as the country’s industry remained “favorable”. The 2016 GDP expanded to 1.9% after five years and for this year, the bank expects for the same result.
Andrea ForexMart, Official Representative
ForexMart
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