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

PostPosted: Wed Sep 27, 2017 5:37 am
by Andrea ForexMart
NZ Business Confidence Index Plunged After General Election

After the general election in New Zealand, the business confidence in the country has declined to its two-year low which is caused by the fears of manufacturers for a downturn.

Before the voting on September 23, the confidence index fell to zero against 18.3 last month as mentioned by ANZ Bank New Zealand on Tuesday.

More than three months passed after the survey of manufacturing companies issued a pessimistic forecast for business conditions within next year, higher by 2 percent in the earlier poll.

Moreover, the sector has the tendency to cut down hiring while respondents are expecting for a lower salary.

Economic News

PostPosted: Thu Sep 28, 2017 9:05 am
by Andrea ForexMart
Qatar’s Imports Surged in August Despite of Sanctions

Imports of Qatar rose in value as it bounced off abruptly during the month of August compared to the earlier month as stated in the government data on Wednesday. This could mean that the economic impact of sanctions enforced by neighboring Arab nations is ebbing.

Previously imports dropped over a third in value after several countries including the United Arab Emirates, Saudi Arabia, Bahrain and Egypt which severed their diplomatic ties with Doha on June 5. However, this affected the shipping routes to Qatar as it closed the border of its country with Saudi Arabia where food and construction materials are being imported.

However, figures showed a sudden increase of 39.1 percent to 8.68 billion riyals or $2.38 billion last month as reported by the planning and statistics ministry. Although in contrast to the statistics from a year earlier, the imports were 7.8 percent lower exhibiting a big recovery compared to the levels for the month of June and July when it plunged greater than 35 percent last year.

Re: Company News by ForexMart

PostPosted: Mon Oct 02, 2017 7:54 am
by Andrea ForexMart
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Economic News

PostPosted: Tue Oct 03, 2017 9:03 am
by Andrea ForexMart
Asian Factories Improved Activity Before Shopping Season Begins

Large factories in Asia has been more active in September along with the rise in global growth with signs if a strong demand for manufactured goods which end the shopping season very well. Yet, some regional economies who are experiencing economic struggles keep the direction slightly bent as they need to implement softer monetary policy despite western countries have pushed back their stimulus.

The central bank of China has reduced the number of cash reserves for the first time since February 2016 which aims to make it more appealing for smaller lending companies and boost the stagnant private sector. The slowdown of their economy did not meet expectations even if they started the first half strongly. Although, they have plans of easing as they prepare ahead of the shopping season. This was supported by the official Purchasing Managers’ Index from China’s vast manufacturing sector whereby data shows a high demand in the previous month which have been the fastest rate since 2012.

However, the higher cost of raw materials has affected the performance of smaller companies which was exemplified in the separate private survey of factories indicating slowed growth for the month of September.

In Japan, the factory performance also accelerated at a quicker rate in four months because of strong demand in exports that affects the economic momentum despite the unchanged inflation rate. Moreover, the Bank of Japan reported that large manufacturers have gained more confidence in business situation over a decade, driven by the low value of yen and a strong global demand. Nevertheless, the BOJ plans to maintain their rates low.

Also, the Manufacturing business in South Korea grew at the fastest rate in less than two years.

Indonesia also demonstrated a rise in factory growth although at a slower rate and the production also declined. The country eased their interest rate twice this year hoping to improve the weak domestic consumption.

Yet, India cut its rates in August to stimulate growth and inflation.

Overall, it seems that these easing of the Asian nations is not really a major move but rather mere adjustments in policies compared to the Western countries as described by Rob Carnell, Asia’s head of research of ING.

Re: Company News by ForexMart

PostPosted: Wed Oct 04, 2017 4:52 am
by Andrea ForexMart
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Economic News

PostPosted: Thu Oct 05, 2017 9:31 am
by Andrea ForexMart
Russian Services Sector PMI Reached a Three-month High in Q3

The services sector in Russia rose at the fastest rate in three months to September amid higher demand in new orders and hiring according to the survey on Wednesday.

The Markit purchasing managers index (PMI) for the said sector increased to 55.2 in September from 54.2 in August. The figure stayed higher than the 50 mark which set apart increase from contraction since the second month of 2016. The survey showed a stronger output, new orders and high export demand boosted the manufacturing activity for the first time since August 2013.

Experts that derived the conclusion that both foreign and domestic clients pushed the high demand for new orders. At the same time, a good business environment contributed in improving the business confidence and adjust the anticipated output higher to an eight-month high.

The expansion of business since the end month of 2012 has been at the fastest rate that backed up the rise of employment growth. Moreover, the workforce has significantly increased at the swiftest rate since May 2013 as mentioned by an IHS Markit economist Sian Jones.

Economic News

PostPosted: Thu Oct 26, 2017 3:43 am
by Andrea ForexMart
Unemployment Rate in France Drop in September

The total unemployment figures of France reduce in September based on the records from the Labour Ministry issued on Tuesday. This encourages French President Emmanuel Macron to execute further efforts to improve the job market.
The number of unemployed individuals in the mainland France was lowered down by 64,800 last month, this is the largest decrease since 1996.
The 1.8 percent drop after a month and 0.5 percent within a year resulted in a total of 3,475,600 jobless people which is the lowest level from the month of April.
The improvement was achieved due to reform efforts by Macron’s leadership that created more jobs and increased growth.

President Macron is considering the reduction of unemployment in the country down to 10 percent for years, overhauling the rules of labor industry last month. This could be followed by some changes in unemployment benefits and professional training subsequently.
The business confidence of France also perked up since Macron’s victory in May elections. The French politician pro-business reform agenda tend to shift company’s activities upwards in order to manage robust demand, according to a survey published on Tuesday morning.
Moreover, the emergence of new businesses led companies to hire additional workers in October which could regulate rising backlogs, hence, this is the fastest pace recorded in a decade based on the monthly purchasing managers survey.

On the other hand, industrial firms reported that their efficiency is moving towards the highest levels prior the outset of 2008-2009 global financial crisis indicated in a quarterly survey by the INSEE statistics agency on Tuesday. The expanding number of companies seems struggling to keep up with the demand. There are 32 percent of managers who admitted facing some congestion in the production system. This could be a positive indicator for the job markets considering that companies are forced to take more laborers in order to cope the demands of the client, therefore, reducing the unemployment rate.

Re: Company News by ForexMart

PostPosted: Fri Oct 27, 2017 4:54 am
by Nathan Fields
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Economic News

PostPosted: Mon Oct 30, 2017 6:41 am
by Andrea ForexMart
US Economy Supported by Trade and Inventories

The American economy unanticipatedly sustained the rapid momentum in Q3, as the inventory investment increased and the smaller trade deficit eased off the impact from hurricanes towards the fall in consumer expenditure and curbed in construction.

The country’s GDP gained 3.0 percent at an annualized rate during the months of July until September, which further strengthened the robust business equipment spending as mentioned by the Commerce Department on Friday. While goods inventories for sale added nearly three-quarters of percentage point growth during the previous quarter and the improved GDP underlines the economic health. This excludes the inventory investment, the economy was able to advance by 2.3 percent rate against the slow down by 2.9 percent during the second quarter. The estimates for domestic demand also declined to 2.2 percent versus 3.3 percent obtained in Q2.

The United States acquired 3.1 percent growth during the second quarter, and this was the first time that the U.S growth reached higher than 3 percent for two consecutive quarters. Forecasts from economists show that GDP will increase by 2.5 percent in the third quarter. According to the US administration, it seems difficult to determine the effect of hurricanes Harvey and Irma towards the GDP in the third quarter. Initial evaluation indicates that the subsequent storms generated losses amounted to $US10.4 billion of government-owned fixed assets and $US121.0 billion ($A157.8 billion) worth of privately owned fixed assets.

Inventories cumulated from firms came in at $US35.8 billion in the Q3, which boosted inventory investment by 0.73 percentage point to GDP growth in the said quarter. The inventories contributed an output of more than tenth of percentage point in the previous period. While economists are expecting for a decent expansion from inventories in the last quarter. Despite the drop in the fourth quarter and surpassed the sharpest decline in imports for three years which led to a smaller trade deficit and provided four-tenths of percentage point to economic development. Trade supported the output for three quarters in a row.

Economic News

PostPosted: Mon Nov 06, 2017 9:37 am
by Andrea ForexMart
RBNZ Hold Official Rates Steady

Economists are expecting that the Reserve Bank of New Zealand will maintain its official cash rate at 1.75 percent upon the publication of its monetary policy statement scheduled on Thursday. However, the schedule of future hikes appears to be dull until the new policies of the Labour-led government were already established. Either way, the rate increase still does not have specified time in the future. Most likely, the hike will happen at the end of 2018 while forecasts from the central bank show that the raise will hit at the end of 2019.
An upward pressure is expected on local monetary policy, particularly on interest rates from foreign regions since the bank aims to ease off remaining artificially low rates since the Financial crisis of 2007–2008.

In the previous week, the BOE implemented a rate hike after 10 years, raising from 0.25 percent to 0.5 percent. The Fed Reserve is known to lift its rates twice in 2017 and maintained within the range of 1 to 1.25 percent, however, some comments opposing the market expectations affected the rates and tend to increase again this December. In October, the European Central Bank mentioned that it plans to reduce the level of bond purchases for each month along with the leading yields of US 10-year bond that recently acquired 2.4 percent. Cameron Bagrie, ANZ chief economist, spoke about the slightly higher international signals compared with local rates.

On the other hand, the financial markets are dealing with the future of new policy targets agreement (PTA) between the Reserve Bank and the Government. As indicated in the contract, the bank is obliged to maintain the next annual inflation within the average range of 1-3 percent in the medium term. Its focus is to manage future average inflation around the target midpoint of 2 percent. The employment intends to expand the deal in order to create an adequate level of labor rates as part of its objective while the political party NZ First discussed the policy revision.

The total inflation for the year came in at 1.9 percent issued in September but new guidelines of the administration regarding wages and regional fuel taxes might influence prices to push higher. The greater-than-anticipated jobs figures last week highlighted a tighter labor market coupled with upside risks to inflation and surprised the RBNZ. The Reserve Bank explained that it anticipated for interest rate trends from overseas, especially from the US 10-year bond yield that serves as the major influence towards domestic rates.

On Friday afternoon, the Kiwi dollar was down to US69.2c as the head of NZ First Winston Peters declared a coalition agreement last October 19.