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Forex Forum to Share, Discuss, Communicate and Trade Forex • Company News by ForexMart
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Re: Company News by ForexMart

PostPosted: Tue Sep 12, 2017 4:24 am
by Cristiano Ramos
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Economic News

PostPosted: Wed Sep 13, 2017 8:27 am
by 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.

Re: Company News by ForexMart

PostPosted: Fri Sep 15, 2017 7:08 am
by 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.

Economic News

PostPosted: Fri Sep 15, 2017 8:28 am
by 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.

Re: Company News by ForexMart

PostPosted: Mon Sep 18, 2017 6:28 am
by 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

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

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Economic News

PostPosted: Wed Sep 20, 2017 2:01 am
by 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.

Economic News

PostPosted: Wed Sep 20, 2017 7:43 am
by 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.

Economic News

PostPosted: Fri Sep 22, 2017 3:54 am
by 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.

Re: Company News by ForexMart

PostPosted: Mon Sep 25, 2017 5:12 am
by Andrea ForexMart
The current Money Fall contest has already started on September 25, 2017 and will end on September 29, 2017.

You can register for the next competition which will take place from October 2, 2017 to October 6, 2017.

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

Re: Company News by ForexMart

PostPosted: Tue Sep 26, 2017 5:27 am
by Andrea ForexMart
Economic Calendar (September 26, 2017)

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