Forexmart's Forex News

Discussion in 'Forex - Currencies Forums' started by Andrea ForexMart, Jan 18, 2018.

  1. KostiaForexMart

    KostiaForexMart Senior Investor

    Joined:
    Mar 2019
    Posts:
    1,311
    Likes Received:
    2
    August 16. Gold falls on expectations of the next move by the US Federal Reserve

    On Tuesday, the price of gold continues to decline moderately – pressure on prices is exerted by expectations of further tightening of monetary policy by the US Federal Reserve.

    During yesterday's trading, the precious metal fell from $1818 to $1789 per ounce. The current gold quote is $1791.

    Analysts believe that the further dynamics of gold prices will depend on the policy of the US Federal Reserve. Investors expect further growth of the discount rate, which is negative for the precious metal quotes. Tomorrow, the minutes of the July meeting of the US Federal Reserve will be published, which should clarify the issue of how the monetary policy of the regulator will change. If the central bank's rate is raised by 75 basis points in September, gold may continue to fall.

    The «hawkish» policy of the American regulator is holding back gold from rising in price, which explains the inability of the asset to gain a foothold at a price above $1800 per ounce. At the same time, some experts say that the process of reducing the rate will not begin even next year.

    Additional pressure on gold quotes yesterday was exerted by data from China. According to recent statistics, the country's economic recovery is on the decline, which may lead to a decrease in physical demand for gold from the world's largest consumer.
     
  2. emelyblunt

    emelyblunt Active Member

    Joined:
    Aug 2020
    Posts:
    36
    Likes Received:
    0
    When you start developing an app, it is important to list the features that you need to develop. Your core code should be focused on these features, and then you can add other features to it later. By building around your core features mlsdev.com, you'll be able to make your app faster and lighter. It's also important to think about the end product before deciding on a new feature or functionality. Otherwise, you'll end up building an app with a lot of features, which isn't needed in the first place.
     
  3. KostiaForexMart

    KostiaForexMart Senior Investor

    Joined:
    Mar 2019
    Posts:
    1,311
    Likes Received:
    2
    August 17. Macroeconomic events of the day | August 17

    New Zealand

    The Central bank of New Zealand has introduced a policy to combat high inflation in the country, increasing the interest rate by 0.50 basis points – from 2.5% to 3%. This is the fourth year that the New Zealand central bank has raised interest rates.

    Great Britain

    Inflation in the UK reached double digits for the first time in 40 years: consumer prices rose by 10.1% in annual terms in July. Analysts note that the last time inflation in the UK was above 10% was in 1982. Compared to June, consumer prices increased by 0.7%. At the same time, economists predicted an increase in annual inflation to 9.8%.

    Eurozone

    According to the second estimate of the European statistical agency Eurostat, the GDP of 19 eurozone countries in the second quarter of 2022 grew by 3.9% year-on-year and by 0.6% quarter-on-quarter. Analysts expected growth of 4% in annual terms and 0.7% in quarterly terms.

    The United States

    According to the US Department of Commerce, the volume of retail sales at the end of July remained at the level of the previous month – 0.8%. At the same time, analysts expected sales to increase by an average of 0.1%. On a monthly basis, sales increased by 0.7% (excluding gasoline and car sales from calculations).

    Oil

    According to the official report of the US Department of Energy, commercial oil reserves in the country decreased by 7,056 million barrels per week after an increase of 5 million a week earlier.
     
  4. KostiaForexMart

    KostiaForexMart Senior Investor

    Joined:
    Mar 2019
    Posts:
    1,311
    Likes Received:
    2
    August 18. UBS: oil prices will recover to $125 this year

    UBS bank experts have presented a forecast according to which the price of Brent oil may recover to the level of $125 per barrel by the end of this year.

    Analysts are confident that despite the fact that Brent has declined by 25% since mid-June due to fears of a recession, limited global oil reserves will lead to an increase in hydrocarbon prices. Two months ago, oil quotes were located near the level of $125 per barrel, today Brent is trading at $96 per barrel.

    In addition to concerns about a possible recession in the United States and China, oil prices are being pressured by the risks of an increase in oil exports from Russia and OPEC member countries, as well as progress in nuclear negotiations with Iran, which could lead to more oil on the market.

    However, despite all these factors, UBS still believes that the current decline in oil prices does not fully take into account the limitation of global supply, and by the end of the year the price will be able to recover to $125 per barrel.

    As you know, OPEC and its allies agreed to increase production by only 100 thousand barrels per day in September, which is one of the lowest rates in the history of the organization. According to the alliance itself, the actual increase in production in September will be only one third of the agreed increase in supply volumes.

    Moreover, European countries have agreed to reduce imports of crude oil and petroleum products from Russia by almost 3 million barrels per day by the end of 2022. High prices for coal and natural gas will also contribute to the increase in the cost of oil, as utility companies begin to switch from expensive fuels to cheaper ones for electricity production.
     
  5. KostiaForexMart

    KostiaForexMart Senior Investor

    Joined:
    Mar 2019
    Posts:
    1,311
    Likes Received:
    2
    August 19. The dollar index rose to highs on the signals of the US Federal Reserve

    On Friday, the US dollar shows strengthening to a one-month high in pairs with major competitor currencies. The dollar index is currently 0.17% higher than Thursday's closing level (107.65); the maximum value of the USDX index was reached on July 18 at 107.72.

    The US currency is supported by statements by the heads of the US Federal Reserve on the need for further interest rate increases. Next week, the central bank's symposium will be held in Jackson Hole, and it is expected that representatives of the regulator will give new signals about the dynamics of monetary policy.

    Earlier, the president of the Federal Reserve Bank of St. Louis, James Bullard, said that he was leaning towards a third consecutive increase in the key rate by 75 basis points at the Fed meeting in September. His colleague from San Francisco, Mary Daly, also believes that an increase of 50 or 75 points would be quite reasonable. Other representatives of the Federal Reserve are also confident that it is too early to ease monetary policy, since inflation is still at record levels.

    Additional support for the dollar was provided by yesterday's data on the labor market in the United States. The number of initial applications for unemployment benefits decreased by 2 thousand from the revised figure of the previous week – to 250 thousand. Unemployment in May remained at the April level of 3.6%, and the number of people employed in non-agricultural sectors of the economy increased by 390 thousand people.

    The USD/JPY pair has risen to a maximum since July 28 (136.69) and is preparing for the strongest weekly growth since June 10. EUR/USD is still sideways near the level of 1.0086, and the GBP/USD pair has fallen to a minimum since July 21, 1.1895.
     
  6. KostiaForexMart

    KostiaForexMart Senior Investor

    Joined:
    Mar 2019
    Posts:
    1,311
    Likes Received:
    2
    August 22. Oil prices collapsed amid progress in Iranian talks

    Oil prices are falling at the beginning of a new trading week, the current Brent quote is $93.10 per barrel. The daily low was marked at $92.97.

    Investors continue to monitor the progress of negotiations between the United States and Iran on the nuclear deal. Last weekend, the next stage of the debate took place, which resulted in the achievement of some progress in the negotiations.

    «We may be closer to concluding a deal than it was two weeks ago, but the result remains unpredictable, as some contradictions remain,» a White House spokesman said.

    At the meeting, US President Joe Biden discussed with the leaders of France, Germany and the United Kingdom the ongoing negotiations on the nuclear deal and the prospects for the return of Iranian oil to the market in the amount of 1 million barrels per day. The parties also discussed the need to strengthen the support of partners in the Middle East region.

    In addition, the market is monitoring the situation in China, where the authorities of Sichuan Province have extended restrictions on the supply of electricity to industrial enterprises to combat power outages. All this negatively affects the activity in the industrial sector of the region.
     
  7. KostiaForexMart

    KostiaForexMart Senior Investor

    Joined:
    Mar 2019
    Posts:
    1,311
    Likes Received:
    2
    August 23. Business activity in the eurozone falls for the second month in a row

    According to preliminary data from the research organization S&P Global, the composite purchasing managers index (PMI) of 19 eurozone countries in August continues to remain below the level of 50 points – the bar separating the growth of business activity from the fall. The indicator decreased from 49.9 points in July to 49.2 points, that is, business activity in the region is falling for the second month in a row.

    Nevertheless, the indicator turned out to be higher than the expectations of market participants (49 points).

    The indicator of activity in the service sector decreased to 50.2 points (from July 51.2 points), while updating the minimum since April 2021.

    The manufacturing PMI fell to 49.7 (from 49.8 points), reaching the lowest value since June 2020.

    Germany's composite PMI in August fell to 47.6 points (from 48.1 points), also to the lowest since June 2020. The indicator in the service sector fell to 48.2 (from 49.7 points), while in industry the indicator rose to 49.8 points from 49.3 points a month earlier.

    France's composite PMI was 49.8 points compared to July's 51.7 points. The index of business activity in the service sector decreased to 51 from 53.2 points, in the manufacturing industry – to 49 from 49.5 points.

    The UK composite PMI in August, although it remained above 50 points, but fell to the lowest since 2021 – 50.9 points from 52.1 points a month earlier. The indicator in the services sector has updated at least in 1.5 years (52.5 points), and in the manufacturing industry – it turned out to be at the lowest level in 27 months (46 points).
     
  8. KostiaForexMart

    KostiaForexMart Senior Investor

    Joined:
    Mar 2019
    Posts:
    1,311
    Likes Received:
    2
    August 26. Macroeconomic events of the day | August 26

    On Friday, all the attention of the markets is focused on the speech of the head of the US Federal Reserve Jerome Powell at the symposium in Jackson Hole. It is expected that the regulator will confirm its intention to curb inflation, but will not announce the details of its next steps. Many expect an interest rate increase of another 0.75 percentage points in September, while others expect a smaller increase, by half a point.

    Powell's speech will take place after the publication of a block of economic data, including on the PCE index, as well as on the expenses and incomes of Americans.

    PCE Index

    The Personal Consumption Expenditure Index (PCE), the Fed's most preferred inflation indicator, will be published at 12:30 GMT. Analysts expect the underlying PCE to increase by 4.7% compared to last year and by 0.3% compared to the previous month.

    Expenses and incomes of Americans

    At the same time (12:30), statistics on personal expenses and incomes of Americans will be published. Personal expenses are projected to grow by 0.4% and personal income by 0.6%.

    It is noted that middle- and low-income households feel disadvantaged due to rising prices for all basic goods, so they are forced to reduce their expenses. At the same time, retailers are lowering prices to get rid of inventory in preparation for the holiday season.

    Powell's performance at Jackson Hole

    Despite general expectations, the speech of the head of the Fed is unlikely to bring any specifics to the market. Moreover, before the regulator announces its next decision on the rate, several more important economic data will be published, including inflation and the employment report.
     
  9. KostiaForexMart

    KostiaForexMart Senior Investor

    Joined:
    Mar 2019
    Posts:
    1,311
    Likes Received:
    2
    August 29. Powell's speech provoked the growth of the dollar

    On Monday, the US dollar reached a 20-year high against major currency competitors after the speech of the head of the US Federal Reserve Jerome Powell at a symposium in Jackson Hole on Friday. The dollar index peaked at 109.48 points today.

    In particular, Asian currencies fell: the Chinese yuan reached a new 2-year low of $6,9321, and the Japanese yen fell to 138.88 against the dollar. The Australian dollar fell to $0.6858, and the New Zealand dollar fell to $0.6109. Paired with the European currency, the dollar rose to $0.9944.

    The head of the US regulator said that the Fed does not plan to make «dovish» changes to its rhetoric and intends to further raise the base rate to combat rampant inflation. Powell also warned that the growth of the US economy could be undermined by a rate hike, as households and businesses will inevitably face a number of problems before consumer price growth can be contained.

    After the politician's speech, an increasing number of analysts began to predict a rate hike at the September meeting by 75 basis points. The rate is expected to exceed 3% by the end of the year.

    Now all the attention of the markets is focused on Friday's report on employment in the United States (Non-Farm Payrolls). A strong report on the labor market may give the Fed additional opportunities to maintain the current pace of monetary policy tightening.
     
  10. KostiaForexMart

    KostiaForexMart Senior Investor

    Joined:
    Mar 2019
    Posts:
    1,311
    Likes Received:
    2
    August 30. Oil prices are recovering moderately after yesterday's fall

    World oil prices are recovering weakly on Tuesday after falling below the level of $100 per barrel. A day earlier, Brent was trading at $103.25 per barrel.

    The possible prospects for a reduction in oil supply and a decrease in demand in the markets led to an increase in prices yesterday. Investors' fears intensified after the statement by the Saudi Energy Minister that OPEC may cut production.

    At the same time, expectations of an increase in demand appeared after the statement of the famous entrepreneur Elon Musk that humanity may soon need more oil and gas, since without fossil energy carriers «civilization will collapse.»

    In addition, the situation in Libya affects the dynamics of the oil market. Over the weekend, clashes between two armed groups took place in Tripoli, as a result of which more than 30 people were killed. This has raised fears that Libya is waiting for another full-scale conflict, as a result of which oil supplies to the world market will be reduced.

    Meanwhile, the volume of production in the country remains at the same level of 1.2 million barrels per day, as reported by the state-owned Libyan oil company National Oil Corp.
     

Share This Page