Author Topic: Economic News  (Read 2121 times)

Offline Andrea ForexMart

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Economic News
« on: June 14, 2018, 08:24:02 AM »
U.   S.    Consumer Prices Rose to a Record High of 2.   8 Percent Over Six Years

The consumer price of the U.   S.    increased slightly in May despite the slower growth of gasoline costs, implying moderate inflation in the economy.   

The inflation report of the Labor Department was released prior to the two-day policy meeting on Tuesday.    With the steady growth of inflation and anticipated tightening of the labor market, the Federal Reserve is motivated to raise interest rates for the second time this year on Wednesday.   

The CPI data rise by 0.   2 percent in the previous month while the cost of food remains the same.    A similar increase of CPI was seen in April.    After a year in May, the CPI gained 2.   8 percent, which has been the biggest growth since February 2012, following its increase of 2.   5 percent in April.   

Gaining 0.   2 percent of the CPI, excluding volatile food and energy components, was due to the rebound of new motor vehicle prices and a pickup in the cost of health care, after rising to 0.   1 percent in April.    In turn, this raised the year-on-year gain of the core CPI by 2.   2 percent from 2.   1 percent in April.    It was the largest growth since February last year.   

After the weak reading last week, the annual inflation measures are adjusting higher.    Both the CPI and core CPI growth in the previous month met the expectations of economists.   

The Federal Reserve moves on a different inflation measure which is just lower than the two percent target.    Economists have different perspectives on whether policymakers will implement more rate hikes in the statement following the rate decision on Wednesday.   

Meanwhile, the dollar is moving steadily against a basket of currency which is immediately after the data fell slightly than the U.   S.    Treasury yields, which is trading lower compared a slightly higher U.   S.    stock index futures.   

Post Merge: June 20, 2018, 05:49:00 AM
SNB Keeps an Ultra Loose Monetary Policies

The Swiss National Bank announced the decision to maintain an ultra-loose monetary policy on Thursday and analysts expectations matched from the survey by Reuters giving a unanimous answer. 

They reiterated the fragility or exchange rates after the strengthening of the Swiss franc in the past few weeks and began low this year. 

At the same time, Chairman Thomas Jordan said that it would be too early to raise rates in Switzerland amid low inflation. 

Another issue is the political uncertainty in Italy which will affect the eurozone in the future and it is important for the central bank to be heedful in this situation, according to an analyst. 
Forty experts expect the SNB to maintain the target range to be 1.  25 percent to minus 0.  25 percent in three months on the offered rate of London Interbank, which has been the ongoing target for the past three-and-a-half years. 

Also, they expect a negative interest rate of 0.  75 percent deposits to be sustained where the commercial bank held a certain value as one of the important tools used by the bank. 

Changes in the LIBOR target range is anticipated to happen soonest at the end of the year based on the UBS, while the median consensus deems to set at the end of next year. 

Analyst of Credit Suisse initially thought the central bank to raise their rates as early as 2019 based on the economic strength of Switzerland, with a forecast growth of 2.  2 percent this year. 

The Global Head of Investment Strategy & Research at Credit Suisse Group AG, Nannette Hechler-Fayd?herbe said, ?Our base case scenario is where the ECB is considering a first interest rate increase themselves by mid-2019, and the SNB could move a quarter before.  ? Connoting the reaffirmation of central bank?s decision.    However, she added that these two would move together as they are ?economically interlinked?. 

Her expectation is a gradual increase of rates until it reached around 1.  20 against the euro in a year. 

Post Merge: June 22, 2018, 07:40:07 AM
France?s Economic Growth Sharp Decline in 2018

The economy of France dropped from 2. 3 percent to 1. 7 percent this year, according to the forecast of National statistics, which is another financial problem of President Emmanuel Macron in reducing costs of the government.

Macron?s administration aims to reduce spending and maintain the deficit targets of the European Union with 2. 0 percent target growth for 2018.

Growth has been steady and there are no particular concerns, remarked by Finance Minister Bruno Le Maire on Monday.

However, statistics agency through that the government would fail to meet the target as it would be pulled lower by a strong euro and increasing oil prices as some of the influential factors.

Gross Domestic Product increased by 0. 3 percent in the second quarter, higher than the previous quarter?s rate of 0. 2 percent.  Further increased by 0. 4 percent in both the remaining two factors in twelve months with  1. 7 percent.

The Central bank of France revised lower their target growth of 1. 8 percent in a year, following a bright year in 2017.  It has changed as if covered by clouds in France and the eurozone as described by the head of Insee's economic outlook division Frederic Tallet.

This includes external factors over which the nation has less control such as global trade war, higher costs of oil prices, a strong euro, as well as, political uncertainties in Europe, notwithstanding the new far right-eurosceptic coalition in power in Italy.

Moreover, domestic concerns including sluggish household consumption and nearly three months of unabating train strikes that will likely bring down the second-quarter growth by 0. 1 percentage points.

The forecast says that the corporate investment will slow down from 4. 4 percent to 3. 1 percent over the year, while household investment would decline from 5. 6 percent in 2017 to 1. 6 percent.

On a brighter side, good progress was seen on the trade and unemployment concerns.  Unemployment will only decline slightly which is currently twice the value of Germany or Britain.  The forecast rate is 8. 8 percent at the end of the year from 9. 0 9. 0 percent at the end of last year.

A slow start of exports in 2018 is expected to change in the second quarter with the help of large demand in the aviation and shipbuilding sectors, according to the agency.  On the other hand, households will gain from the reduction in both of the residency and payroll taxes.


« Last Edit: June 22, 2018, 07:40:07 AM by Andrea ForexMart »
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Economic News
« on: June 14, 2018, 08:24:02 AM »

Offline CarlosR

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Re: Economic News
« Reply #1 on: June 28, 2018, 05:38:41 AM »
While there haven?t been any major developments in the last 24 hours, nothing we?ve heard recently fills investors with any confidence that we?re going to see a de-escalation any time soon.  With tariffs already being implemented and US President Donald Trump promising more in retaliation against the European Union and China, it seems the situation is going to get much worse before it improves.

As it stands, it?s difficult to determine just what impact recent events will have on the economies of those involved, not to mention just how much worse the situation is going to get.  What?s clear though is that it?s weighing heavily on risk appetite and if Trump keeps doubling down on his threats against the US trade partners, it could seriously take its toll.  Given how closely Trump watches the markets, it will be interesting to see whether he changes his approach if the recent declines continue.
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USD rallying as risk aversion drives safe havens higher

The dollar is continuing to be one of the biggest beneficiaries of the safe haven shift, with US 10-Year Treasury yields creeping back below 2. 9%.  The greenback had pared its gains over the last week but it appears to be back on the ascent, with the euro having run into resistance around 1. 17 against it.  The pair has run into significant support around 1. 15 on a couple of occasions over the last month, so could be a decent test of it should we slip back to those levels again.

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Offline PALM FXMart

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Re: Economic News
« Reply #2 on: July 13, 2018, 07:36:42 AM »
BoE Governor Mark Carney Warns the Risk of Disturbing Global ?Delicate Equilibrium?

Bank of England Governor Mark Carney expects a steady slower pace economic growth globally but concerns on trade war and rising protectionism can affect the ?delicate equilibrium?.   

Carney described that it is not easy not to triumph in a trade war in association with the words said by US president Trump saying, ?good, and easy to win?.   Nonetheless, he reckoned that everybody is looking for a ?solution? that benefits all.   

Britain leaving the EU is set on March 29 without a deal.   The only chance for this to turn around is if Theresa May can persuade the bloc to amend a divorce deal in November and then win the approval of wary policymakers in Europe.   

Post Merge: April 26, 2019, 05:52:57 AM
BOJ plans to keep interest rates very low until early 2020

The central bank of Japan maintained its monetary policy on Thursday.  Moreover, they elucidated their plan to keep the borrowing rates at a very low rate for a longer period of time, at least until the ?spring? season of 2020. 

In highly anticipated action, the Boj aims around minus 0. 1 percent as their short-term interest rate and extended their long-term interest rates.  At the same time, they vowed to keep the 10-year government bonds into zero percent. 

Although, the central bank did not specify the length of time in implementing very low-interest rates.  BOJ Governor Haruhiko Kuroda is scheduled to hold a news conference today at 06. 30 GMT. 
« Last Edit: April 26, 2019, 05:52:57 AM by PALM FXMart »

Offline Obasi FXMart

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Re: Economic News
« Reply #3 on: July 21, 2020, 08:39:07 PM »
July 21.                       India intends to store crude oil in the US

Authorities have announced that the country plans to store part of its crude oil reserves in the United States.                     

The government notes that India needs new strategic oil reserves of its own, but building them could take several years and huge financial resources.                     

The way out of the situation was the opportunity to rent American strategic storage facilities, moreover, that this would not entail large expenses.                       The oil that will be stored in the United States can be used by New Delhi both for its own needs and for sale on the world market.                       However, if oil prices fall during storage, India will suffer losses.                     

Post Merge: July 22, 2020, 09:52:28 PM
July 22.                      US exchanges open lower on fears of conflict escalation with China

At the auction on Wednesday, American stock indices generally show a decline, reacting to the likelihood of aggravation of relations between the US and China.                     

The Dow Jones Industrial Average (DJIA) fell 0.                     13% to 26805.                     38 points, while the S&P 500 broad market index fell 0.                     03% to 3256.                     26 points.                      At the same time, the NASDAQ index of high-tech companies rose by 0.                     28%, to 10709.                     84 points.                      The index was supported by expectations of financial statements for the last quarter of such American companies as Microsoft and Tesla included in the index.                      Since the beginning of the year, Tesla shares have risen in price by 3.                     7 times, and Microsoft – by 32%.                     

Investors drew attention to the news around the relationship between the United States and China.                      It became known that Washington ordered the closure of the PRC Consulate General in Houston in order to protect the intellectual property and personal information of Americans.                      In response, China is considering the likelihood of closing the US consulate in Wuhan.                     

Post Merge: July 23, 2020, 10:06:41 PM
July 23.                     Britain and the EU have not agreed on the basic principles of relations

The UK's chief Brexit negotiator David Frost said today that Britain and the EU have failed to reach agreement on key issues for a future trade deal.                     However, the politician still hopes for a successful conclusion of the negotiations in September.                   

Michel Barnier, the EU's chief Brexit negotiator, also noted that there is a high risk of not reaching any agreements with Britain.                     He also said that the current position of Britain in negotiations on a future partnership makes the possibility of a trade agreement unlikely.                     It is about the UK abandoning open and fair competition and a balanced fisheries agreement.                   

The next stage of negotiations is scheduled for August 17.                   

Post Merge: July 24, 2020, 08:47:05 PM
July 24.                    US stock exchanges decline on geopolitical risks and fears for the country's economy

According to the trading data, the main US stock indexes are declining on Friday, as investors assess the risks of the conflict between the US and China and doubt the prospects for the recovery of the US economy.                   

The Dow Jones Industrial Average (DJIA) fell by 0.                   57%, to 26501.                   72 points, the broad market S&P 500 index – by 0.                   62%, to 3215.                   7 points, the NASDAQ high-tech index – by 1.                   47%, up to 10307.                   8 points.                   

The pessimism in the markets was fueled by growing tensions between the world's two largest economies.                    Today, China has demanded that the US Consulate General in Chengdu, Sichuan Province cease operations.                    This demand was made in response to the closure of the Chinese Consulate General in Houston, USA.                   

Additional pressure on the market is exerted by fears for the recovery of the US economy.                    Investors speculate that an increase in the number of coronavirus cases in America and a new round of quarantine restrictions may again suspend economic activity in the country.                   

Post Merge: July 28, 2020, 09:29:59 PM
July 28.                   Fed extends lending programs until December 31

A two-day meeting of the US Federal Reserve System starts today, following which the regulator will make public its decision on the rate and further monetary policy.                 

At the end of the first day, the central bank announced that it is extending operations on seven emergency lending programs by three months, until December 31, in order to maintain activity during the coronavirus pandemic.                 

These programs were initiated in March and April until September.                   Program extensions should facilitate planning for potential program participants and provide certainty that these programs will continue to be available.                 

Post Merge: July 30, 2020, 11:39:40 PM
July 30.                  German GDP and quarterly losses hit the European market

On Thursday, the European stock market crashed after the publication of the German GDP report and disappointing macroeconomic data.                 

Germany's DAX traded 2.                 4% lower, to 12.                 516, France's CAC 40 fell 1.                 15%, to 4.                 901, and Britain's FTSE declined 1.                 65%, to 6.                 031.                 

Germany's GDP report reflected a 10.                 1% decline in the German economy, the sharpest drop in history.                 

Indicators of quarterly losses of European companies also had a detrimental effect on the dynamics of the European market.                  French carmaker Renault SA fell 2.                 8%, posting a record net loss of 7.                 29 billion euros in the first half of this year.                  Its German rival Volkswagen AG plunged 5.                 3%, posting an operating loss of 800 million euros in the first half.                 

Shares of the Italian oil company ENI SpA fell 3.                 5% after the company reported a loss in the second quarter and cut dividends.                  France's Total recorded an asset impairment of $8.                 1 billion in the second quarter, but retained dividends.                 

Only pharmaceutical companies showed growth.                  In particular, AstraZeneca gained 3.                 1% after reporting a second quarter net profit growth and testing of a coronavirus vaccine.                 

Post Merge: July 31, 2020, 06:25:03 PM
July 31.                 EU GDP collapses by record 14.                4%

According to the statistical agency Eurostat, the GDP of the EU countries in the II quarter fell by 14.                4% in annual terms.                 On a quarterly basis, the indicator decreased by 11.                9%.                 In the first three months of the year, the EU economy contracted by 3.                6%.                 Figures like these signal that the European economy has entered a recession.               

Earlier in July, the European Commission presented its forecast for changes in Europe's GDP: experts expected the economy to decline by 8.                3%.               

At the same time, the economies of 19 eurozone countries contracted by 12.                1% in the second quarter and by 15% – in annual terms.                 Analysts had expected a decline of 11.                2% and 13.                9%, respectively.               

The fall in all indicators has become the sharpest and strongest since 1995 – since the beginning of statistics.               

Post Merge: August 03, 2020, 09:44:16 PM
August 03.                The PMI index of the industry of the eurozone in July rose to 51.               8 points

According to the research organization Markit Economics, the index of business activity (PMI) in industrial production of 19 eurozone countries in July rose to 51.               8 points against 47.               4 points in June.                Analysts predicted that the indicator would rise to the level of preliminary estimates of 51.               1 points.               

At the same time, industry PMI in Germany, according to final data, rose to 51 points from 45.               2 points in June.                PMI in France in July increased to 52.               4 points from 52.               3 points in June.               

Analysts had expected the German index to rise to 50 points and the French to 52.               

Post Merge: August 04, 2020, 05:40:43 PM
August 04.               Gold rises in price on increasing geopolitical risks

On Tuesday evening, the price of gold started to rise sharply, reaching $ 2.              001 per troy ounce.               The growth driver was fears of further deterioration in relations between the United States and China.             

Market participants continue to follow the news around the TikTok app, owned by the Chinese company ByteDance.               Earlier, it became known that US President Donald Trump announced plans to ban TikTok on the grounds that this Chinese company, by law, must transfer user data to the PRC authorities.             

Trump's actions are forcing TikTok to sell its US assets to an American company, which was seen by the Chinese authorities as another provocation and led to increased tensions between the two countries.             

As a result, market players prefer to ditch risky assets in favor of safer ones, which traditionally include gold.             

Post Merge: August 06, 2020, 09:27:37 PM
August 06.              US unemployment claims data are encouraging

According to the US Department of Labor, the number of Americans who filed initial applications for unemployment benefits fell to 1.             186 million last week after rising in the previous two weeks.              Economists had forecast a smaller decline to $ 1.             415 million.             

The number of secondary applications from those who continue to receive benefits dropped to 16.             107 million, down from the previous week by 1.             951 million.             

On Friday, investors await a more complete report on nonfarm payrolls.              The report is predicted to show that an additional 1.             6 million jobs were created in the labor market last month, or hiring fell sharply from a record 4.             8 million in June.             

Post Merge: August 07, 2020, 07:09:44 PM
August 07.             US: 1.            8 million jobs added in July, unemployment falls to 10.            2%

According to the US Bureau of Labor Statistics, only 1.            763 million jobs were created in the nonfarm economy.             This signals that the recovery of the American economy after the coronavirus pandemic has slowed in July.           

Forecasts assumed growth of 1.            6 million jobs.             Despite the fact that the current data exceeded analysts' expectations, there is a decrease in job growth compared to the jump in the previous month, when 4.            791 million people were hired.           

The report also reflected the current state of unemployment in the country.             To date, the unemployment rate has dropped to 10.            2% of the total working-age population, after 11.            1% in June.             Analysts predicted the growth rate to 10.            5%.           

Post Merge: August 10, 2020, 05:15:33 PM
August 10.            US stock market opened with growth in hopes of new liquidity injections

The US stock market started the week in a positive mood amid hopes for a compromise on a new package of measures to support the population and the economy.           

Treasury Secretary Steven Mnuchin said a deal with House Democrats this week is still possible, despite the failure of talks last week when the parties failed to agree on a $2 trillion bailout.           

So, Donald Trump the day before decided to extend the payment of unemployment benefits in the amount of $400 per week and to suspend the income tax bypassing Congress.           

As a result, the Dow Jones Industrial Average rose 190 points, or 0.           7%, to 27.           624 points.            The S&P 500 rose 0.           3% to hit 3.           350, while the Nasdaq Composite rose 0.           2% to 10.           923.            Shares of such companies as McDonald's Corporation, Eastman Kodak Co, Simon Property Group Inc also showed growth.           

Post Merge: August 11, 2020, 06:06:50 PM
August 11.           The rise in producer prices in the United States was the highest in almost 2 years

According to the US Department of Labor, producer prices in the country (PPI) in July 2020 rose by 0.          6% compared to the previous month.           This was the highest growth rate since October 2018.           Analysts on average had expected an increase of 0.          3%.         

Such jump in prices is mainly due to the rise in energy costs amid the relaxation of restrictions imposed in connection with the coronavirus pandemic.         

Compared to July 2019, the PPI index dropped by 0.          4%.           Experts had forecast a 0.          7% decline.         

Post Merge: August 13, 2020, 05:02:39 PM
August 13.          US still can't agree on stimulus package

Negotiations between Republicans and Democrats in Congress on the next round of economic aid measures remain stalled.         

House Speaker Nancy Pelosi said yesterday that the lower house is ready to negotiate with the Senate and the administration and reduce the difference between the proposed package of measures.          The White House administration is offering $1 trillion, and the Chamber is offering $3.         5 trillion.         

However, US Treasury Secretary Steven Mnuchin called such a proposal «misleading» and said that Democratic negotiators were not yet ready for a compromise at all.         

Post Merge: August 14, 2020, 10:00:52 PM
August 14.         GDP of the European Union in the II quarter fell by a record 14.        1%

According to the second estimate of the European statistical agency Eurostat, the GDP of the EU countries in the second quarter fell by 14.        1% in annual terms.         On a quarterly basis, the indicator decreased by 11.        7%.       

In the second quarter of the year, the economies of 19 eurozone countries contracted by 12.        1% in quarterly terms and by 15% in annual terms.         All indicators were in line with analysts' forecasts and the agency's first estimate.       

Eurostat noted that the decline in all indicators was the strongest since the start of statistics in 1995.         Thus, the European economy has been declining for two quarters, which suggests that Europe has entered a recession.         In the first quarter of 2020, the decline in GDP of 19 eurozone countries amounted to 3.        6% in quarterly terms and 3.        1% in annual terms.         The EU economy contracted by 3.        2% in Q1 and 2.        5% in annual terms in Q1.       

Post Merge: August 19, 2020, 06:26:36 PM
August 19.        Gold prices dropped below $ 2,000 due to dollar stabilization

The price of gold dropped today below the level of $2,000 per ounce (to $1,987.       93) amid the stabilization of the US dollar in the market.        The American currency is awaiting details on the strategy of the US Federal Reserve to support the economy affected by the pandemic.       

However, experts note that expectations of further weakening of the dollar may lead to the fact that in the near future gold will be able to gain a foothold above the $2,000 level and reach new record highs.       

Tonight will be released the minutes of the meeting of the US Federal Reserve, which may contain hints of a shift in the forecast for monetary policy.        However, no changes in interest rates are expected until the end of 2021.       

Palladium lost 0.       33% to $2.       181.       43 an ounce, while silver slipped 0.       73% to $27.       45 an ounce.        Platinum fell 1.       15% to $945.       25.       

Post Merge: August 20, 2020, 06:28:50 PM
August 20.       The number of applications for unemployment benefits in the United States exceeded 1 million

The number of initial jobless claims rose unexpectedly to 1.      106 million, according to the US Labor Department, fueling fears that the recovery in America's labor market could be delayed.       Experts predicted a decrease in the number of applications to 925 thousand.     

The number of Americans who submitted secondary claims for benefits fell to 14.      844 million.       The total number of people claiming unemployment benefits fell by 200 thousand, to 28.      06 million.     

The US authorities note that since the labor market is still weak, additional financial assistance will be required in the near future to support vulnerable families and the economy as a whole.     

Post Merge: September 01, 2020, 08:33:54 PM
September 01.      German authorities have improved economic forecast for 2020

The German authorities have improved their forecast for the outlook for the economy in 2020 amid signs of effectiveness in efforts to support and stimulate Europe's largest economy.     

The German central bank expects the country's GDP to contract by 5.     8% this year, while back in April it was predicted that the economy would contract by 6.     3%.      At the same time, the new forecast still does not rule out the onset of one of the most significant economic recessions since the end of World War II.     

Meanwhile, the forecast for next year was downgraded.      Experts expect that the German economy in 2021 will grow by only 4.     4%, while the previous forecast assumed growth of 5.     2%.      Also, the Ministry of Economy of the country notes that Germany, most likely, will not be able to achieve pre-crisis GDP indicators until early 2022.     

Post Merge: September 03, 2020, 10:26:25 PM
September 03.     The number of applications for unemployment benefits in the United States fell more than expected

According to the US Department of Labor, the number of initial applications for unemployment benefits fell from the revised figure of the previous week by 130 thousand - to 881 thousand.   

Analysts predicted a decline in the indicator by 56 thousand applications.     The figure has dropped below 1 million for the second time since March saw a sharp increase in the number of applications.   

The total number of people receiving unemployment benefits in the United States decreased by 1.    238 million from the revised figure of the previous week to 13.    254 million.   

Post Merge: September 07, 2020, 09:08:36 PM
September 07.    Johnson calls Brexit deadline

British Prime Minister Boris Johnson said that a Brexit trade deal with the European Union should be concluded by October 15.     The politician noted that if the parties fail to reach an agreement by this time, then the free trade deal will most likely not be concluded at all.   

According to Johnson, if the negotiations are unsuccessful, the UK will have a relationship with the EU similar to that of the EU and Australia, which is also a good result.    In this case, Britain will have full control over its laws and regulations, as well as the conditions for the use of British fishing waters.   

The Prime Minister also stressed that Britain is ready to find a reasonable agreement with the EU on practical issues, including flights, freight transport or scientific cooperation, even if a trade deal is not reached.   

The post-Brexit transition period began for the UK on January 31, 2020 and will last until December 31, 2020.    During this year, the EU and Britain should reconcile their future relationship.    The next stage of negotiations is scheduled for tomorrow, September 8th.   

Post Merge: September 08, 2020, 08:58:32 PM
September 08.   US ready to hit China's economy again

The US has said it is considering a ban on Chinese cotton products from Xinjiang.   The US cited alleged human rights violations in Xinjiang as the reason for this move. 

Moreover, D.   Trump noted that if he is re-elected in the presidential elections, he will end his dependence on the Chinese economy.   In his statement, the president stressed that he «intends to turn the United States into a manufacturing superpower, independent of China.  »

According to the head of the White House, the US authorities will be able to return jobs from China, and companies that want to leave America will be required to pay large sums.   Trump also said that today the United States is losing billions of dollars in the course of economic cooperation with China. 

Post Merge: September 09, 2020, 08:02:09 PM
September 09.  In July, the number of vacancies in the United States increased to 6. 62 million

Job vacancies in the US increased in July, with more workers leaving retail and professional and business services jobs due to concerns about COVID-19 infection and childcare concerns, according to a report from the U. S.  Department of Labor (JOLTS).

The number of vacancies, which is an indicator of labor demand, jumped from 6 million to 6. 62 million on the last day of July, the highest since May.

The JOLTS report follows last Friday's news that the US economy created 1. 371 million jobs in August, after increasing 1. 734 million in July.
« Last Edit: September 09, 2020, 08:02:09 PM by Obasi FXMart »

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Re: Economic News
« Reply #3 on: July 21, 2020, 08:39:07 PM »


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